Agriculture futures keep falling after crop report
CHICAGO (AP) -- Agriculture futures continued to tumble today on the Chicago Board of Trade after the Agriculture Department said it expected record grain crops.
Production estimates were higher than the government had expected in November, sending prices tumbling.
Wheat for March delivery dropped 11.75 cents to $5.24 a bushel; March corn sank 20.5 cents to $3.72 a bushel; March oats tumbled 6.5 cents to $2.46 a bushel; and March soybeans shed 2 cents to $9.76 a bushel.
Meanwhile, beef futures slipped as pork futures rose on the Chicago Mercantile Exchange.
February live cattle dropped 0.20 cent to 85.25 cents a pound; March feeder cattle lost 0.35 cent to 97.95 cents a pound; February lean hogs gained 1.05 cents to 67.45 cents a pound; and February pork bellies jumped 1.75 cents to 88.80 cents a pound.