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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (54727)	8/12/2006 10:14:10 AM
From: RealMuLan	Read Replies (2) \| Respond to of 116555

Corn Plummets After Bigger-Than-Expected U.S. Harvest Estimate Aug. 11 (Bloomberg) -- Corn prices in Chicago plunged the most in nine years after the U.S. government predicted a larger crop than analysts expected. Soybeans also fell, capping the biggest weekly decline since mid-January. Farmers will harvest 10.98 billion bushels of corn this year, up 2.2 percent from the month-ago estimate of 10.74 billion bushels, the U.S. Department of Agriculture said today. Twenty analysts in a Bloomberg survey were expecting 10.75 billion bushels, on average. A crop of the size predicted by the USDA would be 1.2 percent smaller than last year's harves bloomberg.com