(Oct. 26) U.S. wheat futures fell Friday on end-of-week positioning and weak export demand, traders said. The benchmark Chicago Board of Trade December soft red winter wheat contract fell nearly 1 per cent, dropping through key technical support at its 30-day moving average. For the week, CBOT December wheat fell 0.9 per cent. Ukraine wheat […] Read more
CBOT wheat, corn end lower, soy higher
Mexico raids U.S. corn market, buys 1.516 million tonnes U.S. corn
Mexico raided the U.S. corn market by making the biggest one-day purchase in over two decades this week, the first clear sign of global anxiety over the decimated U.S. crop. Mexico, the No 2 importer of U.S. corn after Japan, bought 1.516 million tonnes, the U.S. Agriculture Department said on Thursday, a move traders said […] Read more
Markets end three-day fall after jobs data
U.S. grain and soybean futures ended a three-day slide on Friday as better-than expected U.S. jobs data helped markets recover their appetite for risk. Agricultural markets felt spillover support from strong gains in crude oil and equities, with a weak dollar helping to feed the bull market sentiment. The dollar fell to a one-month low […] Read more
Farm Futures survey pegs U.S. corn crop below 10 bln bushels
A Farm Futures Magazine survey of more than 1,800 U.S. farmers projected the U.S. 2012 corn crop at 9.57 billion bushels, based on an average yield of 114 bushels per acre, the publication said Friday. The figures are well below the U.S. Department of Agriculture’s current forecast for a crop of 12.97 billion bushels with […] Read more
U.S. corn futures continue to rise on drought
Chicago Board of Trade corn futures were higher on Friday on continued deterioration of the U.S. corn crop as the worst drought in over a half a century takes a toll on crop production. Informa Economics cut its estimate for 2012 corn yield to 134.0 bushels per acre from the previous 142.5 and trimmed soy […] Read more
U.S. corn futures continue to rise on drought
Chicago Board of Trade corn futures were higher on Friday on continued deterioration of the U.S. corn crop as the worst drought in over a half a century takes a toll on crop production. Informa Economics cut its estimate for 2012 corn yield to 134.0 bushels per acre from the previous 142.5 and trimmed soy […] Read more
IGC cuts maize forecast
The International Grains Council has cut sharply its forecast for the world maize crop in 2012-13, citing the worst U.S. drought since 1956, and saw stocks of the commodity falling to a six-year low by the end of the season. World maize production in 2012-13 was put at 864 million tonnes, down from a previous […] Read more
Cargill recalls us ground beef after salmonella outbreak
Nearly 15 tons of ground beef have been recalled by a unit of agriculture conglomerate Cargill Inc in connection with a seven-state outbreak of salmonella across the northeast and Virginia, the United States Department of Agriculture said. Cargill Meat Solutions, based in Wichita, Kansas, voluntarily recalled 29,339 pounds of fresh ground beef products produced at […] Read more
Sask. sees no competition concern in Viterra takeover
Saskatchewan Premier Brad Wall, whose views could be pivotal in determining Ottawa’s stance on Glencore International’s $6.1 billion takeover bid for grain handler Viterra, said on Tuesday the proposal seems to address concerns about maintaining grain market competition. Viterra’s head office is in Regina, and the Prairie province is a major grain producer. Wall’s opposition […] Read more
Morgan Stanley cuts corn, soy, wheat price forecasts
Wall Street bank Morgan Stanley lowered on Tuesday its price forecasts for corn, soybeans and wheat, citing better-than-expected global supply and negative market sentiment regarding agricultural commodities. "Counter to our expectations in late September, agricultural prices have weakened meaningfully owing to a string of bearish U.S. data, expectations of better (2011-12) global production and the […] Read more
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