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Record corn crop outlook slashes prices on CBOT
A USDA report projects corn production at 6.5 billion bushels fueling fears of ample supply. Corn futures fell 4% to 6% early, closing lower, while wheat and soybeans rebounded later on rumors of purchases and strong crush figures. Analysts warn government programs and consumer prices could be affected by the record crop.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Board of Trade
Department of Agriculture
Soybean Association