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Grains Resume Decline on Yield Outlook

September 5, 2014 at 0:31 by Vladimir Vyun

Soybeans sank today as forecasters continue to anticipate a record harvest. Corn and wheat joined in the decline. The grains bounced last week as low prices attracted traders.

The US Department of Agriculture reported this week that about 74 percent of corn and 72 percent of soybeans were rated in good to excellent condition by the end of the last week. It was the best result for the period since 1994.

As for wheat, it fell due to peace talks between Russia and Ukraine. Both countries are major exporters of the agricultural commodity.

December contract for corn declined 1.56 percent to $3.4650 per bushel as of 00:20 GMT on CBoT today. November soybeans lost as much as 1.64 percent to $10.0325 per bushel, while December wheat tumbled 1.03 percent to $5.3025 per bushel.

If you have any questions and comments on the commodities today, use the form below to reply.

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