Items Tagged with 'Don Roose'

The Department of Agriculture’s annual Crop Production report surprised traders with increases to the 2023 corn and soybean yield, pulling prices for both commodities lower in what could be the start of a longer trend.

A new report from the Department of Agriculture reduced the expected corn and soybean production this year, a move that also boosted the government’s expectations for commodity prices.

Department of Agriculture officials expect corn and soybean yields will average a record high this year despite lowering yield estimates from last month, and grain traders are watching to see if China keeps up ag purchases to support market prices.

Industry analysts, government officials, and insurance adjusters are trying to make sense of just how much damage was done by the heavy winds that cut through the heart of the Corn Belt in a Monday storm system.

The Department of Agriculture released market-shifting reports on Friday, largely showing robust production in 2017 adding to an already solid amount of stocks on hand around the world.