Grains Continue to Sink Lower

Grains continued to sink lower overnight as the weight of bigger crops continues to pressure the market. Outside markets saw crude oil and equity indices sharply lower while the US dollar turned higher.

USDA’s crop report on Monday did little to change the bearish sentiment gripping the market. Soybean production came in well above expectations, eclipsing a 4.21 billion bushel crop on a +50 bushel per acre yield. For corn, USDA was lower than their August estimate but not as low as the average analyst expectation.

USDA在玉米收获的第一个报告将美国作物占5％，在5年后。Avg。7％，这也是AVG。作者：王莹，贸易预期玉米和大豆病情评级在一周内持有公司。

In international news, Australia on Monday raised its forecast for wheat production for the 2016/17 season by 14.6% to 28.08 MMT, up from a forecast in June for 24.51 MMT .The raised forecast is in line with a Reuters survey of 10 analysts and traders who said they were expecting an Australian wheat harvest of 28 million tonnes.

Energy prices slid, weighing on currencies of commodity-producing nations, after the International Energy Agency said an oil glut will last longer than initially estimated, persisting well into 2017.

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—Kevin McNew