Chicago | Reuters –– U.S. wheat futures fell for the third straight session on Wednesday, hitting a two-week low on big global supplies and a government report that pegged U.S. winter wheat crop ratings above market expectations. Corn also slumped to a seven-month low on spillover pressure from sinking wheat and positive U.S. crop ratings, […] Read more
U.S. grains: Wheat sinks to two-week low on winter crop rating
U.S. grains: Wheat plunges on dollar rally, technical selling
Chicago | Reuters — U.S. wheat futures plunged more than four per cent on Tuesday as pressure from a strong dollar and technical selling outweighed concerns about crop damage due to heavy rain in the southern U.S. Plains. Corn prices slid about 1.5 per cent on spillover weakness from tumbling wheat and generally favourable crop […] Read more
ADM’s Q1 profit jumps on strong oilseed processing results
Chicago | Reuters –– U.S. agribusiness Archer Daniels Midland on Tuesday reported higher-than-expected quarterly profit on strong oilseed crushing margins and robust global demand for soybean meal. Revenue, however, fell 15 per cent as the strong dollar limited U.S. grain exports, and corn processing profit fell on weak ethanol margins and lower biofuel production volumes. […] Read more
U.S. grains: Corn drops to five-month low on good planting weather
Chicago | Reuters –– U.S. corn futures dropped to a five-month low on Friday in a fifth straight losing session on expectations for a rapid advance in corn planting as forecasters expect mostly clear weather across the U.S. Midwest in the coming days. Soybeans surrendered all of the previous session’s gains as worries abated that […] Read more
U.S. grains: Soybeans up on trucker strike worry
Chicago | Reuters — U.S. soybean futures snapped two sessions of declines and climbed to the highest in 2-1/2 weeks on concerns that labour strikes in South America could limit supplies to ports during the peak export season in Brazil and Argentina. Truckers in Brazil began to block roads across the country’s main farm belt […] Read more
U.S. grains: Corn touches one-month low, soy slips on bird flu concern
Chicago | Reuters –– U.S. corn futures touched a one-month low on Wednesday and soybeans dropped on concern that a bird flu outbreak in the U.S. may cut feed demand, as forecasts for favourable U.S. planting weather in coming weeks also weighed on prices. Wheat was slightly lower as early short covering support faded in […] Read more
U.S. grains: Soybeans rise on Chinese stimulus, wheat rebounds
Chicago | Reuters –– U.S. soybean futures rose for a fifth consecutive session on Monday on worries about a possible trucker strike in Brazil and as an economic stimulus move by top importer China reinforced expectations of brisk demand for the oilseed. Wheat rebounded from steep losses last week, although gains were capped by improving […] Read more
U.S. grains: Soybeans drop for third day
Chicago | Reuters — U.S. soybean futures fell for a third straight session on Wednesday as the end of a truckers’ strike in Brazil and easing concerns about a farmers’ protest in Argentina reduced fears of major South American export disruptions. Wheat fell under the combined pressure of a stronger dollar, which makes U.S. grain […] Read more
ADM profit jumps as big U.S. harvest boosts ag services
Chicago | Reuters — U.S. agribusiness Archer Daniels Midland on Tuesday reported higher quarterly earnings as a record-large U.S. harvest boosted grain volumes and supported strong exports, though revenue fell short of expectations. Earnings in agricultural services, ADM’s biggest business segment in terms of revenue, grew as bumper U.S. corn and soybean crops replenished thinned […] Read more
Cargill profit surges as lower grain prices spur demand
Reuters — Replenished grain supplies following a bumper North American harvest bolstered global commodities trader Cargill’s bottom line in its latest quarter as lower prices lifted demand for crops and padded margins on meat sales. Privately-held Cargill, based in Minnesota, reported net earnings of $784 million for the second quarter ended Nov. 30, up 41 […] Read more