March 31, 2010

PAGING THE REVEREND MALTHUS,...:

Soybean, corn prices tumble after crop report (STEPHEN BERNARD, 03/31/10, AP)

Soybeans plunged Wednesday after the government reported that stockpiles of beans are larger than expected. Corn and wheat also fell sharply in response to the Agriculture Department report.

The department said 2010 looks to be another record year of soybean production. [...]

Feltes noted that farmers will likely end up planting even more soybeans and corn than are estimated in the initial report. That would extend the pattern of the past two years. Corn for May delivery fell 8.25 cents, or 2.3 percent, to $3.4625 a bushel.

The USDA estimates farmers will plant 88.8 million acres of corn this year, a 3 percent jump from each of the past two years.

Wheat prices also fell, dropping 20 cents, or 4.2 percent, to $4.52 a bushel.


Just wait'll you see how mad the Tea Partiers are when their gold returns to its natural level.

Posted by Orrin Judd at March 31, 2010 3:02 PM
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