Crops Different from Analysts’ Forecast
There are shock in the expected growth production of certain crops that did not meet analysts’ target. Corn’s acreage growth resulted in a growth while the soybeans missed the minimum crop target.
Soy beans are expected to match the estimate of 77.126 million acres, which is lowered from the targeted acreage of 77.198 million, a .1 percent decrease of the estimated acreage. Analysts’ however, were expecting a growth to about 78.351 million. Crops in India are given a break after overcoming the supposedly fear of drought.
Corn acreage reached a level of 97.339, up from the average of 97.155. Corn features has fell by .2 percent to $7.3375 a bushel; this may be a result from the high quantity of corn that are available. Soybean’s feature also dropped to $14.5275 by .1 of a percent; this may result from the uncertainty due to the incompetent of reaching the forecasted level of analysts.
Written by: Victor To