Bullish USDA crop report sends soybeans sharply higher: Podcast

Problems with South American crops expected to shift soybean export demand to U.S.

On Tuesday, the U.S. Department of Agriculture forecasted much smaller year-end stocks for the 2016 soybean crop as it expects problems with South American crops to shift export demand to the U.S. Those numbers, plus some smaller-than-expected forecasts forĀ corn, sent crop prices sharply higher in the Chicago, Ill., markets. Soybean futures were up more than 60 cents/bu. near midday.

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