Grain markets drop after revised global yield forecasts : co

Grain markets drop after revised global yield forecasts
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© Tim Scrivener
Grain and oilseed prices dropped sharply last week after crop reports suggested global yields for 2021-22 may be higher than previously thought.
Markets for grain and oilseed have been booming as high global demand and lower crop yield forecasts combined to push up prices.
The lower yield predictions were based on growing crops, which were thought to have been hit by dry and cold weather in key growing areas.
This added further upward impetus to prices.
However, a report by the US Department of Agriculture (USDA) on crops in both North and South America, has revised predictions.

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