U.S. corn futures plunged to contract lows on Tuesday after the Department of Agriculture projected a record-shattering corn harvest this year as farmers planted more acres than expected and the crop faced few weather challenges this summer.
Corn at 188.8 bu./ac. soybeans at 53.6 bu./ac.
Analysts say quadrupling soybean orders is ‘highly unlikely’
Manitoba’s lack of rain is stressing crops, fuelling pest pressure and slicing yield potential in soybean and pea fields
Despite dryness, crops still in good shape
U.S. grain, soybean prices to go lower: analyst