From Orange Juice to Corn, Agriculture Markets Are Going Berserk
- Grains, soybeans plunge as U.S., Brazil boost crop forecasts
- Sugar soars as hogs decline to lowest since 2009, cattle slump
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Agriculture markets from cattle to wheat went bonkers on Tuesday. Governments in the U.S. and Brazil boosted the forecasts for their biggest crops, sending corn, soybeans and wheat lower. Meanwhile, livestock futures tumbled on signs of an increasing meat glut, while sugar and orange-juice futures soared on supply concerns.
On the bearish side: