15 July: US soybean, corn, and wheat futures decline due to improved Midwest crop prospects and demand concerns.
US soybean futures fell to a near 4-year low on 15 July, with corn and wheat also declining as Midwest crop prospects improved and concerns about demand for oilseeds increased. Wheat futures on the Chicago Board of Trade hit life-of-contract lows, while corn futures stayed just above contract lows. In the latest USDA report, wheat stockpiles for the 2024-2025 marketing year are expected to rise to 856 million bushels, and corn production is forecasted at 15.1 billion bushels, up from the June forecast.
July 15, 2024
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