Soybeans Rise as Acreage Disappoints -- Market Talk

Features Dow Jones Newswires

12:28 ET - Soybean prices jump after the USDA's estimate for planted acreage misses analyst guesses, though it still marks record area for the oilseeds. USDA estimates farmers planted 89.5M acres of soybeans this year, the most ever for the crop, though shy of the 89.9M acres expected by analysts. Also good news for the soybean market: the USDA projected smaller-than-expected quarterly stockpiles of the oilseeds, pegging stocks on March 1 at 963M bushels. Analysts had expected 981M bushels. CBOT July soybeans rise 2.2% to $9.35 3/4/bu. (jesse.newman@wsj.com; @jessenewman13)

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June 30, 2017 12:43 ET (16:43 GMT)