Wheat prices fell more than one per cent on Friday to post their biggest loss in a week in reaction to month-end fund positioning, profit taking, and bearish news that Russia said it will not limit grain exports. Corn and soybeans also declined on profit-taking after corn soared to a drought-induced record high early in […] Read more
U.S. wheat falls after Russia rules out export limits
Rain from Isaac to help U.S. wheat, but not corn, soy
The drought-parched Midwest farm belt in the U.S. could get up to five inches of rain from what’s now Hurricane Isaac — but it would be a mixed blessing to farmers, as the moisture will be too late for corn and soybeans but just in time for wheat planting next month. Farmers are harvesting their […] 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
Corn and soy drop as focus shifts from drought impact
U.S. corn shed over 2 per cent of value on Thursday and soybeans eased 1 per cent as investors banked profits on a lack of fresh bullish news, analysts and traders said. "It can’t keep going up forever. Eight-dollar corn and $17 beans are pretty pricey, it got a little overdone to the upside," a […] Read more
U.S. corn hits record on eve of key crop report
U.S. corn rose one per cent to a record high on Thursday and new-crop soybeans rose three per cent a day ahead of a key U.S. government report that’s expected to slash production estimates due to damage from the worst drought in 56 years. "People are putting risk premium back in ahead of the USDA […] Read more
U.S. corn, soy rally ahead of USDA report
U.S. corn futures rose nearly two per cent on Wednesday, halting a two-day sell-off, as traders positioned for a keenly awaited U.S. government crop report that may predict the lowest U.S. corn yield in 15 years. Additional support stemmed from scattered corn harvest reports that were even worse than expected as combines began to roll […] Read more
Some showers seen for drought-stricken U.S. crops
A better chance of rain was expected late this week in portions of the drought-stricken U.S. Midwest, bringing some relief to the struggling corn and soybean crops, an agricultural meteorologist said on Wednesday. "The U.S. weather model has a little wetter forecast than yesterday, but overall it looks like a similar pattern in August that […] Read more
Hope fades for relief to U.S. drought
Midday weather updates indicated worsening stress on the U.S. corn and soybean crops for the next two weeks as the worst drought in over 50 years retains a firm hold on America’s heartland, an agricultural meteorologist said on Wednesday. "There are no soaking rains seen through Aug. 8," said Andy Karst, meteorologist for World Weather […] Read more
Rain to help crops in northern Midwest
Rainfall in the northern U.S. Midwest over the next 10 days will provide some relief for the drought-stricken corn and soybean crops, but more rain is needed to stem further crop losses, an agricultural meteorologist said Tuesday. "It’s a wetter forecast than we saw earlier. There’s a better chance of rain from Minnesota into Michigan […] Read more
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