Grain and soybean prices tumbled amid concerns about higher-than-expected crop supplies and a less-bullish outlook from Goldman Sachs Group Inc.
Soybean prices slid 2.8% to a five-month low, and corn dropped by the same percentage to a six-week low, as money managers exited bets that prices would rise. The selloff was driven in part by traders who saw the price declines as signals more selling would ensue.
Source: Wall Street Journal. Read full article. (link)