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USDA Reports Fuel Surge in Corn and Soybean Prices

1/14/2025

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Summary

Story summary

Corn prices surged to $4.76½ per bushel and soybeans climbed to $10.53, driven by USDA reports that trimmed yield forecasts. Wheat also saw a rise, reaching $5.45 per bushel. China's purchase of 198,000 metric tons of soybeans bolstered market optimism despite looming production worries in South America. Meanwhile, cattle prices dipped while lean hogs gained traction.

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Story summary

Corn prices surged to $4.76½ per bushel and soybeans climbed to $10.53, driven by USDA reports that trimmed yield forecasts. Wheat also saw a rise, reaching $5.45 per bushel. China's purchase of 198,000 metric tons of soybeans bolstered market optimism despite looming production worries in South America. Meanwhile, cattle prices dipped while lean hogs gained traction.