Corn and soybean prices tumbled to a four-month low this week as farmers watched good weather send prices into the dust. The corn crop is almost entirely in the ground and soybeans are nearing 75% planted. Early reports estimate that these are the healthiest crops in 20 years, raising expectations for bumper crops.
Farmers are largely happy about good weather, but fears of a large crop and looming trade issues are scaring investors away from corn and soybeans. As they dumped their investments in the markets Friday, July corn and soybean futures fell to $3.73 and $9.62 per bushel, respectively.