Bin-Busting Corn Supplies Spur Biggest Price Drop in 11 Weeks

March 31, 2015 5:11 PM

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(Bloomberg) -- U.S. corn supplies are even bigger than analysts were expecting, with prices tumbling the most since January after the government pegged inventories at the highest in 28 years.

Domestic stockpiles as of March 1 were 11 percent higher than a year earlier at 7.745 billion bushels, the U.S. Department of Agriculture said Tuesday. That’s the most for the date since 1987. Analysts had predicted a gain of 8.6 percent, on average. Adding to the supply woes, farmers are set to pla...

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