US grains fall on supply boom
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THE prices of corn, soya beans and wheat fell on Tuesday - with the corn market declining the most in two weeks - amid signs of ample supply as a record harvest advanced in the US, the world's biggest grower.
Eighty-nine per cent of corn in the main US growing areas was harvested as at Nov 16, ahead of the average pace, the US Department of Agriculture said on Monday . The agency expects farmers in the United States to produce 14.407 billion bushels, an all-time high. The soya bean harvest was 94 per cent complete, compared with an average pace of 96 per cent at this time of year, and production will reach a record 3.958 billion bushels.
