Markets surprised by bigger crops

Markets surprised by bigger crops

THE U.S. Department of Agriculture's November crop report delivered a bearish blow to the crop markets as it forecast larger-than-expected U.S. corn and soybean harvests with corn at 13.65 billion bu. and soybeans at 3.98 billion bu.

Increases in corn and soybean crop sizes had been expected from the October report, but USDA's numbers topped the average trade forecast for corn and topped all estimates for soybeans.

USDA cut

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