Chicago | Reuters — U.S. grain farmers scrambled to find shelter for their crops and handlers hunted for alternative transportation routes, as widespread floods shut waterways from Illinois to Missouri and spurred a surge in physical prices of corn and soybeans. The sudden jump in prices could complicate a months-long stand-off between farmers who are […] Read more
U.S. grain prices soar as floods shut waterways, threaten crops
U.S. grains: Corn, wheat tumble ahead of year’s end
Reuters — Chicago corn and wheat slipped on Wednesday, as concerns about potential damage to winter wheat crops moved to the background in light year-end trading. Soybeans rose on technical buying, despite forecasts for much-needed rains in parts of Brazil next week. With a lack of fresh bullish news for the grains, traders sold futures, […] Read more
Cargill to sell crop insurance unit to Silveus
Reuters — Global commodities trader Cargill will sell its crop insurance business to the Silveus Insurance Group next month, the two companies said Tuesday. The deal will close the second week in January, said Tyler Silveus, CEO for Silveus, based in Warsaw, Indiana. “We are not disclosing terms of the deal, other than we are […] Read more
U.S. grains: Wheat rallies on bargain-buying, fund short-covering
Chicago | Reuters — U.S. wheat futures rose roughly two per cent on Tuesday to hit a one-week high on bargain buying and concerns about crop prospects in the southern Midwest, traders said. Soybeans were also higher while corn futures firmed, rallying from contract lows as wheat advanced. At the Chicago Board of Trade, March […] Read more
Rising Mississippi waters bring barge traffic near halt
Chicago | Reuters –– Rapidly rising floodwaters brought barge traffic to a near standstill on the middle section of the Mississippi River on Monday, halting shipments of goods such as soybeans, concrete and road salt, government officials and traders said. The deadly storms have killed more than 40 people in flooding and tornadoes, snarling air […] Read more
U.S. grains: Soybeans fall on improved Brazil weather forecasts
Chicago | Reuters — Chicago Board of Trade soybean futures fell for a fifth straight session on Monday as forecasts for rains across Brazil’s key producing region Mato Grosso eased concerns of potential yield losses in the world’s largest exporter. Corn futures fell to life-of-contract lows on fears of slowing export demand, and wheat followed […] Read more
U.S. grains: Rain in Brazil’s forecasts dampens soy futures
Chicago | Reuters — U.S. soybean futures touched a one-week low on Thursday as expectations for beneficial rains in top exporter Brazil overshadowed stronger-than-expected U.S. export sales. Concerns about large U.S. supplies and poor export demand pushed March corn to settle at a new contract low, while wheat futures reached a three-week low. Traders kept […] Read more
U.S. grains: Wheat drops to three-week low on supplies
Chicago | Reuters –– U.S. wheat futures closed at their lowest level in three weeks on Wednesday as grain markets came under renewed pressure from large global supplies and lackluster export demand. Egypt, the world’s top wheat importer, bought 120,000 tonnes of Argentine wheat in a tender that highlighted the intense competition U.S. sellers face […] Read more
Syngenta said talking to Monsanto, ChemChina, others
Zurich | Reuters — Swiss agrichemicals group Syngenta is in talks with Monsanto, ChemChina and other rivals but has not received a concrete takeover offer and is keeping all options open, chairman Michel Demare told a Swiss newspaper. “Given what shareholders expect for the next 12 months, going it alone is hardly possible,” he told […] Read more
U.S. grains: Prices fall on technical selling, abundant supplies
Reuters — U.S. grain and soybean prices fell on Tuesday, weighed by technical selling and abundant global supplies. Soybeans and wheat gave up earlier gains that were based on weather concerns for developing crops, while corn led the way down in choppy trading ahead of Friday’s Christmas holiday. “There’s no real bullish news, so there’s […] Read more
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