U.S. corn and soybean futures eased Wednesday after reports of some better-than-expected yield prospects encouraged profit-taking from early week highs that stemmed from the country’s worst drought in 56 years. Wheat snapped a five-session streak of increases with additional pressure from prospects for a big Canadian crop, while corn and soy exerted spillover pressure. "The […] Read more
U.S. grains slip as crop tour offers better results
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
U.S. grain markets climb on Midwest drought worries
U.S. corn and soybean futures extended their rallies on Friday, posting their biggest four-week gains in at least 3-1/2 years as rising temperatures and below-normal rainfall in the drought-parched Midwest threatened to further erode yields and tighten razor-thin supplies. Soybeans climbed 1.5 per cent, outpacing a more modest one per cent gain in corn, as […] Read more
U.S. corn resumes bull run amid drought
U.S. corn futures rose four per cent on Thursday to resume a drought-fueled bull run after forecasts for rain in parts of the Midwest were considered to be too little to reverse the worst conditions for the crop in some 25 years. These rains, however, could benefit soybeans, which enter their crucial development stage in […] Read more
U.S. grains tumble on profit-taking
Corn futures tumbled Wednesday on profit-taking and as updated forecasts called for rain in the drought-parched eastern U.S. Midwest, erasing gains of nearly three per cent earlier. Soybeans fell as corn spiralled lower, both shrugging off early gains from bullish government estimates for a lower-than-anticipated U.S. crop and tighter stocks. But both settled above session […] Read more
Corn, soy ease after rallies; eyes now on USDA
U.S. corn futures fell on Tuesday for just the second time in two and a half weeks, retreating from Monday’s 13-month high on profit-taking and forecasts for rain in some parched areas of the U.S. Midwest by the end of the week. Soybeans retreated from a brief, short-covering bounce, slipping further from the all-time, spot-month […] Read more
U.S. grain firms tighten GMO policy, eye Syngenta corn
Major U.S. grain companies have tightened curbs on genetically modified grains not yet approved by foreign markets, with some singling out one popular corn variety made by Syngenta, fearing any trace of the biotech grain in shipments could shut off export markets. The action was taken just weeks before the U.S. corn harvest, when this […] Read more
Floods to delay start of U.S. grain export season
The grain harvest in the U.S. South typically kicks off in August, and supplies are quickly grabbed by exporters to be shipped across the globe. But not this year. Massive flooding that has submerged about three million acres of crop land will delay the start of the export season in the world’s top grain supplier. […] Read more
“Once in a lifetime” flood submerges U.S. farmland
Nearly three million acres of farmland in three southern U.S. states have been submerged by flood waters from the raging Mississippi River and its smaller tributaries, adding to troubles in seeding this year’s crops in the world’s top grain exporter. Although the area constitutes one per cent land seeded with major crops in the United […] Read more
Poll sees U.S. corn at new peaks within months
U.S. corn prices will keep rising to new highs over the coming months, a new Reuters poll has found, as demand from ranchers and ethanol makers proves better able to withstand record costs than many thought. The forecasts will compound inflation concerns as higher feed costs filter through to beef and chicken prices. Analysts also […] Read more