Corn has closed below $7.80 while soybeans tumbled to $17 per bushel heading into tommorrow’s WASDE report from the USDA. I am surprised given the speculation and hype surrounding the possible implementation of QE3. Of course this hype was created by certain financial media outlets and not the Federal Reserve.
Closing Prices (per bushel unless otherwise stated)
|Sep 2012||Soybean Oil (Metric Ton)||$55.4000||-0.7400|
|Sep 2012||Soybean Meal (Metric Ton)||$517.3000||-3.7000|
Afternoon Commodities Report from Allendale
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