Following up on Friday's "Ag Commodities: USDA Releases September Crop Production, World Agriculture Supply/Demand Estimates".
From Reuters via Successful Farming, September 13:
Forecast of big U.S. harvests return to focus.
Chicago soybeans and corn fell on Monday as the market's focus returned to forecasts of larger U.S. harvests made by the U.S. Department of Agriculture (USDA).
Wheat dropped on easing concerns about global supplies.
Chicago Board of Trade most-active soybeans were down 0.4% at $12.80-3/4 a bushel at 1054 GMT.
Wheat fell 0.5% to $6.84-1/2 a bushel, corn fell 0.9% to $5.12-1/2 a bushel.
The USDA on Friday raised its forecast of the U.S. corn harvest by 1.7% after farmers devoted more acres to the grain.
The U.S. soybean crop outlook also was raised after some timely rains in August raised expectations of record yields in key production areas.
"Corn and soybeans are being weakened by the USDA's forecasts of larger U.S. crops on Friday but the falls are moderate," said Matt Ammermann, StoneX commodity risk manager. "Some had been expecting even more bearish USDA numbers, so the fall in markets is relatively modest today."....
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Also at Successful Farming:
2. Investors Curb Net-Long Positions in Beans and Corn
Money managers cut their net-long positions, or bets on higher prices, in soybeans and corn last week, according to the Commodity Futures Trading Commission....
....MUCH MORE
