USDA on Tuesday forecast much smaller year-end stocks for the 2016 soybean crop as it expects problems with the South American crops to shift export demand to the United States. Those numbers, plus some smaller than expected forecasts for corn, sent crop prices sharply higher in the Chicago markets. Soybean futures were up more than 60 cents a bushel near midday.
 

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USDA forecast much smaller year-end stocks for the 2016 soybean crop. (Photo: maciek905/Thinkstock)

Farm Futures Senior Editor Bob Burgdorfer comes to Penton Farm Progress with experience as a reporter covering grain markets and other global news with Reuters, Inc. A journalism graduate from Kansas State University, Bob has also worked at daily newspapers and Knight-Ridder as a commodity reporter, covering grains and livestock. He has earned five writing awards for his coverage of Mad Cow Disease, immigration issues and other international breaking news stories.

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