The soft commodity complex cratered today after the U.S. Department of Agriculture’s quarterly report on grain stocks showed large stockpiles, much greater than traders anticipated. The grain markets cracked following the report that showed large supplies but may be a positive sign overall helping beef and pork producers by lowering their feed prices. After a huge summer run so far in all the grains, perhaps we have seen the top this year. While not helpful to American farmers, these deflating prices help lower food costs for average people.
| Corn | -6.05% |
| Soybeans | -4.59% |
| Wheat | -3.00% |
| Oats | -2.78% |
