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Corn Is Tanking

Rob WileSep 12, 2013, 21:50 IST

Corn prices were down more than 3% after the USDA unexpectedly increased its corn yield estimates.

The agency now forecasts 155.3 bu/a yield against 153.9 expected.

Futures have come back up a little bit but are still near lows.

Investing.com

Meanwhile, soybean futures shot back up to pre-report trading levels after the agency's yield forecasts basically came in in-line with expectations at 41.2 bu/a.

We are now a far way off from last summer's record highs of more than $8.