Summary Box: Corn, wheat prices drop on weather forecast; soybeans see support on tight supply
By APTuesday, July 20, 2010
Summary Box: Corn, wheat drop as weather improves
WEATHER CHANGE: Investors had been sending wheat and corn prices higher on expectations for dry, hot weather, but forecasts are now favorable and crops are expected to be healthy. That sent prices lower.
SOYBEANS RISE: Supply for soybeans is tight, pushing those prices higher. New crops aren’t expected to be harvested for another 40 to 50 days.
NEW AND OLD CROPS: While soybeans for August delivery edged up 3.75 cents to settle at $10.1175 a bushel, November soybeans dropped 3.5 percent.
YOUR VIEW POINT
