Farmers can expect price swings in the corn and soybean markets to continue over the next few weeks as traders react to any new information that emerges about the condition of this year’s crop, according to Iowa State University grain market specialist Chad Hart.
Markets received a jolt last week in the wake of government reports on expected production and prevented planting, along with export projections and other anecdotal observations, Hart said.
"We keep getting conflicting pieces of information, which just shows what an up-and-down year it has been," he said.
The week began with the U.S. Department of Agriculture’s (USDA) August crop production report, which trimmed production estimates from the July report more than traders expected. However, it still forecast the largest corn crop and third biggest soybean crop in U.S. history.
Later in the week, a USDA report on prevented planting acres provided another boost to the market...