Beyond the October Production Forecasts for Corn and Soybeans
US - At 10.706 billion bushels, the USDA's October forecast of the US corn crop was about 100 million bushels larger than the average trade guess and about equal to the September forecast. The October soybean forecast, at 2.86 billion bushels was about 90 million bushels larger than the average trade guess and 126 million larger than the September forecast. Prices of both commodities increased immediately after the forecasts were released, writes Darrel Good.
16 October 2012
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