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Jul 10, 2012

Rain to fall on parched Midwest by end of week: forecasters

CHICAGO (Reuters) – Corn and soybean fields in much of the Midwest will remain dry until the end of the week, with temperatures hovering in the 80s and 90s degrees Fahrenheit, forecasters predicted Tuesday.

However, the return of typical summer weather is unlikely to reverse the damage to corn and soybean crops caused by the crippling drought and heat wave that hit the Midwest during the past month.

Apr 27, 2012

Rising export demand fuels U.S. corn, soy rally

CHICAGO, April 27 (Reuters) – U.S. corn and soybean futures
rallied early o n F riday on strong export demand, with soy
topping the key threshold of $15 per bushel for the first time
in nearly four years, traders said.

Export news propelled prices above their overnight highs due
to heavy buying by investors who were already concerned about
dwindling supplies of corn in the country.

Apr 26, 2012

U.S. risks losing gains in fight against hunger: report

CHICAGO (Reuters) – The U.S. government risks losing the gains it has made in fighting world hunger unless it maintains its effort of the last three years in improving global agricultural practices and food security, a private group said on Thursday.

The Chicago Council on Global Affairs’ Global Agricultural Development Initiative evaluated the U.S. government and agencies for their leadership in global agricultural development. It also examined the impact the efforts from Washington had in Ethiopia, Ghana and Bangladesh.

Apr 4, 2012

Wheat falls nearly 3 percent on weather view

CHICAGO (Reuters) – Wheat futures fell Wednesday, with the benchmark Chicago Board of Trade contract dropping 2.9 percent, on forecasts for good crop weather in the U.S. Plains, said traders who also cited a firmer dollar.

Supply concerns buoyed soybean futures as last week’s smaller-than-expected acreage forecast from the U.S. Agriculture Department raised concerns that this year’s harvest may not provide enough soy to meet demand. Crop short falls in South America also lent support.

Apr 3, 2012

Tight stocks lift old-crop U.S. corn; plantings weigh on new-crop

CHICAGO (Reuters) – U.S. old-crop corn futures rose on Tuesday, their third straight day of gains, on worries that supplies will run thin before harvest replenishes storage bins and grain elevators, traders said.

New-crop December corn also rose, but gains were muted on expectations that farmers will plant the largest corn area in 75 years as projected by the U.S. government, setting the stage for what could be a record harvest in the fall.

Apr 2, 2012

Soy rises for second day, led by new-crop strength

CHICAGO (Reuters) – Soybean futures rallied for the second day in a row on Monday, hitting a seven-month high on follow-through buying from a government report that pegged lower-than-expected soybean acreage this year, traders said.

The soybean market has gained 4.8 percent over the past two trading sessions after the U.S. Agriculture Department’s prospective plantings report early Friday raised concerns about the possibility of tight soybean supplies during the next year.

Mar 22, 2012

U.S. wheat rallies on short covering; corn follows

CHICAGO (Reuters) – Wheat futures rose 1.6 percent at the Chicago Board of Trade on Thursday on heavy short covering after pressure from a firm dollar pushed prices to their lowest level in more than a week early in the session, traders said.

“It looked like wheat was trying to find a little bit of a bottom,” said Jason Britt, analyst with Central States Commodities. “The market had gotten a little bit oversold, a little bit overdone.”

Mar 22, 2012

Wheat rallies on short covering; corn follows

CHICAGO (Reuters) – Wheat futures rose 1.6 percent at the Chicago Board of Trade on Thursday on heavy short covering after pressure from a firm dollar pushed prices to their lowest level in more than a week early in the session, traders said.

“It looked like wheat was trying to find a little bit of a bottom,” said Jason Britt, analyst with Central States Commodities. “The market had gotten a little bit oversold, a little bit overdone.”

Feb 7, 2012

U.S. farmers to plant largest corn area in 68 years: poll

By Sam Nelson and Mark Weinraub

(Reuters) – U.S. farmers this spring will seed the largest area with corn since World War Two as a mild and dry winter has raised expectations for a quick planting this spring , a Reuters poll of 24 analysts showed, signaling a boost to razor-thin stocks and lower prices in 2012.

The survey showed that farmers were gearing up to plant 94.2 million acres, which could produce a record crop of 13.8 billion bushels based on a trendline yield of 161.4 bushels per acre. It would surpass the previous record of 13.1 billion in 2009.

Jan 18, 2012

U.S. corn, soy fall on Argentine rain

CHICAGO, Jan 18 (Reuters) – U.S. corn and soybean
futures fell on Wednesday, with corn hitting its lowest in
nearly a month as rainstorms provided relief to parched crops in
Argentina, traders said.

Wheat prices were pulled lower by the weakness in corn and
ample global supplies.

    • About Mark

      "I cover grain futures out of Chicago, with a focus on the wheat market. Examining the effects of world crop production on prices and the vagaries of export demand for U.S. supplies takes up most of my time. Previously, I was a reporter on the equities desk in New York and I got my start as a news assistant in the Washington Bureau."
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