USDA Shows Bigger Crops

On Friday morning, the U.S. Department of Agriculture released its newest estimate of the size of this year’s crops. Despite some weather concerns, the USDA raised its projections for corn and soybeans, which sent markets tumbling.

By mid-session, harvest prices for corn and soybeans had fallen to two-week lows, trading for $3.75 and $8.67 per bushel, respectively.

Expectations for large crops, fewer exports, and a troubled livestock industry could keep prices in a malaise for the foreseeable future.