Founder and CEO, Teucrium Trading
Corn prices fell after a June report from the U.S. Department of Agriculture showed higher estimates for planted acreage. Many farmers planted corn late in the season instead of soybeans, with the decision undoubtedly influenced by the trade war with China, which is the largest U.S. buyer of soybeans.
Corn futures have climbed sharply in recent weeks, one of several price surges in commodities markets.
The USDA released its October Crop Production and Supply/Demand Reports at 11:00am CT.
Soybean prices give up earlier gains Thursday to end almost flat, but hold near their highest level in three months as the government cut the estimated size...