U.S. corn futures tumbled one per cent to close at a two-month low on Wednesday as the U.S. government’s monthly assessment of crop damage from the worst drought in half a century fell short of trade expectations, as did its estimate of buffer stocks. Soybean futures soared 2.6 per cent for the biggest daily gain […] Read more
U.S. corn closes at two-month low on USDA data
U.S. wheat soars on hopes of export demand shift
Chicago wheat futures soared more than two per cent on Thursday amid expectations that the world’s No. 4 exporter Russia could soon run out of supplies, forcing some demand to shift to the United States, the top shipper of the grain. The expectations stemmed from a large purchase of wheat from the Black Sea region, […] Read more
Grain trade’s eyes on Isaac, U.S. soy dips on profit-taking
Soybeans fell on Monday as investors took profits and unwound bull spreads after the market set a new peak, with traders watching for crop damage as Tropical Storm Isaac churned toward the U.S. Gulf Coast. Corn and wheat futures at the Chicago Board of Trade (CBOT) were also lower, weighed down as new-crop November soybeans […] Read more
Grains – soybeans rally ahead of tour’s final tally
U.S. soybeans rose 1 per cent on Friday, and posted the biggest weekly gain in a month, ahead of final crop estimates from the Pro Farmer tour of the Midwest this week that were released at the close of Friday’s futures trading. Following its week-long tour of the U.S. Midwest crop belt, Pro Farmer pegged […] Read more
U.S. soy hits new peak, corn rallies on drought damage
Soybeans rallied nearly three per cent Tuesday to hit another peak, while corn rose nearly two per cent on evidence of decimated crops amid the worst drought in half a century and a need to temper demand through even higher prices. Corn and soybean futures at the Chicago Board of Trade (CBOT) resumed their climb […] Read more
U.S. grains rally on drought damage; corn harvest kicks off
Soybeans rallied to a one-month high on Monday, while corn prices were the highest in 10 days as the first reports from a crop tour of the Midwest farm belt showed severe damage from the worst drought in half a century. Images, tweets and news reports from the tour reinforced trade expectations that crop production […] Read more
U.S. cattle markets gain as corn futures fall
U.S. live cattle futures closed at their highest level in nearly five months on Tuesday as corn prices continued to retreat, with analysts saying the market might be signaling that the record rally in corn is over for now. Feeder cattle futures at the Chicago Mercantile Exchange (CME) were also higher, rising even more than […] Read more
U.S. corn backs off record high, drought rally pauses
Corn futures set an all-time high Friday as the U.S. government slashed the size of the crop in the world’s top grain exporter, but the market closed lower as demand was scaled back after a drought drove prices to record peaks. Despite the 1.8 per cent drop on the day, benchmark December corn futures at […] Read more
USDA supply/demand report could fuel food inflation
The U.S. government is expected this week to slash another 15 per cent off its estimate of this year’s drought-decimated corn crop, likely adding to growing angst in nations like China and India that are fighting to tamp down inflation. In its first report based on surveys of parched Midwest fields, the U.S. Department of […] Read more
U.S. corn, soy end lower on Midwest rains
U.S. corn and soybean futures reversed course to end lower on Tuesday as investors took profits on updated weather forecasts for more rainfall in the Midwest farm belt, and on selling ahead of Friday’s key government crop report detailing drought damage. Corn and soybeans fell one per cent, erasing earlier gains and dragging wheat lower […] Read more
Cyber-Savvy Farmer
