Chicago | Reuters — Two of the world’s biggest agricultural trading houses bungled crop sales they made on behalf of U.S. farmers this year because of what one described as “unique” price moves for soybeans, prompting both to take rare steps to keep disgruntled customers. Every year, hundreds of U.S. farmers trust major grain traders, […] Read more
Soybeans trip up top traders, prompt rare offer to U.S. farmers
CBOT weekly outlook: Short-term pre-harvest gains likely for corn, soy
CNS Canada — Soybean and corn futures at the Chicago Board of Trade (CBOT) have moved off their nearby lows in recent sessions, and should be due for some more strength in the short-term before seasonal harvest pressure kicks in. The U.S. Department of Agriculture released relatively bearish production estimates on Friday, predicting larger-than-expected U.S. […] Read more
USDA sees record U.S. corn, soy crops after good July weather
Washington | Reuters — The U.S. soybean and corn harvests will be the biggest ever this fall, according to a U.S. Agriculture Department monthly outlook that boosted yield and production forecasts for both crops above market expectations. USDA on Friday pegged the corn crop at 15.153 billion bushels, based on an average yield of 175.1 […] Read more
China backs GMO soybeans in push for high-tech agriculture
Beijing | Reuters — China will push for the commercialization of genetically modified soybeans over the next five years as it seeks to raise the efficiency of its agriculture sector, potentially boosting output of the crop by the world’s top soy importer and consumer. China, which has spent billions of dollars researching GMO crops, has […] Read more
CBOT weekly outlook: Soy, corn stuck in place ahead of USDA data
CNS Canada — Soybean and corn markets at the Chicago Board of Trade are trading in tight ranges ahead of key data from the U.S. Department of Agriculture. But increased global demand for U.S. commodities could underpin prices going forward, one U.S. analyst says. Soybeans – “We’re all just waiting,” said Scott Capinegro of Chicago-based […] Read more
Ontario farmers ready for Roundup Ready 2 Xtend soy
CNS Canada — Soybean producers in Ontario are eager to start planting next season with new ammunition against Canada fleabane. Monsanto’s Roundup Ready 2 Xtend soybeans, genetically modified with a tolerance to dicamba and glyphosate herbicides, were recently approved for import by the European Union. Monsanto planned to introduce Xtend soybeans in Canada for the […] Read more
CBOT weekly outlook: Yield prospects key for soybeans, corn
CNS Canada — Corn and soybean futures at the Chicago Board of Trade recorded losses during the week ended Wednesday, as expectations of massive crops and high yields edge closer to becoming a reality. “Since weather isn’t a major issue anymore, (traders) will be watching for potential record crop production sizes in the U.S.,” said […] Read more
EU approves Monsanto Roundup Ready 2 Xtend beans
Reuters — The European Commission on Friday approved imports of Monsanto’s Roundup Ready 2 Xtend genetically modified soybeans, opening up an important export market for North American soybeans and easing their global rollout. The decision removes a hurdle for Monsanto in its dealings with farmers and grain traders, who have to keep track of whether […] Read more
CBOT weekly outlook: Corn, soy enter temperature-driven phase
CNS Canada — Chicago Board of Trade corn and soybean futures are entering a period that is typically driven by weather concerns and little else. The U.S. Department of Agriculture on Tuesday released its world agricultural supply and demand estimates (WASDE) report. Both corn and soybeans improved in price after the report predicted lower-than-expected stocks […] Read more
First U.S. trader convicted of spoofing sentenced to jail
Chicago | Reuters — A U.S. judge sentenced futures trader Michael Coscia to three years in prison on Wednesday, a lighter punishment than prosecutors had sought for the first person criminally convicted of the manipulative trading practice of spoofing. Coscia also was sentenced to two years of supervised release from jail, in a case that […] Read more
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