Soybeans, corn down on bearish USDA numbers

Soybeans, corn down on bearish USDA numbers

Soybeans were sharply lower on fund and technical selling, with November falling below $12 a bushel. The USDA raised production, yield, and new crop ending stocks, all larger than expected and above a year ago. As of Sunday, 49% of U.S. beans are harvested, compared to the five-year average of 40%, and 91% are dropping leaves, compared to 89% on average, with 59% of the crop in good to excellent shape, up 1% on the week.

    

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