Farmers will see corn yields jump 4.1 percent this year, producing a record 13.985 billion bushels, the USDA said today in a report. Domestic inventories on Aug. 31, 2015, will reach 2.111 billion bushels, the highest since 2005 and 43 percent larger than the 1.481 billion projected for a year earlier, the government said. Prices are down 33 percent in the past yea
Corn futures for May delivery dropped 0.7 percent to close at $4.59 a bushel on the Chicago Board of Trade, the biggest decline for a most-active contract since Jan. 29. While the grain has tumbled from a record $8.49 in August 2012, prices are up 8.8 percent this year amid signs of rising demand.
Wheat futures for May delivery slid 1.3 percent to $6.055 a bushel on the CBOT, the first drop since Feb. 12. U.S. inventories will rise to 587 million bushels before the 2015 harvest, compared with 558 million projected for June 1, the government said today.
Soybean futures for May delivery advanced 0.9 percent to $13.6025 a bushel in Chicago, capping a 2.7 percent gain for the week.