USDA on Monday raised it soybean crop estimate to 4.2 billion bushels from it August number of 4.06 billion.
The increase was a little more than what the trade expected causing soybean futures to move lower.
USDA’s corn crop of nearly 15.1 billion was down slightly from its August number, but was still larger than what many in the trade expected.

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USDA report sends corn, soybean prices reeling. (Photo: peshkov/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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