Posted: September 30th, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Corn, Soybaens | Tags: Corn, corn future, corn price, soybean, soybean future, soybean price | No Comments »
Corn futures plunged to a three-year low after the U.S. Department of Agriculture boosted its inventory estimate by 25 percent.
Soybeans dropped the most in six months as supplies topped analyst estimates by 11 percent.
Corn futures dropped 2.8 percent to close at $4.415 a bushel at 1:15 p.m. on the Chicago Board of Trade. Earlier, the price touched $4.4075, the lowest for a most-active contract since Sept. 1, 2010. Corn has tumbled 37 percent in 2013.
Read the rest of Corn and Soybeans fall sharply » » »
Posted: August 28th, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, Food, Soybaens, Wheat | Tags: Corn, corn price, corn yield, drought, heatwave, soybean, soybean price, soybean yield | No Comments »
Temperatures are poised to pass 38°C (100°F) in the coming week in western corn-belt states such as Iowa. The heat revived memories of the devastating drought in the US last year, which slashed grain output and sent prices soaring.
A heat wave in parts of the Plains states and Midwest kept temperatures Monday as high as 20 degrees above normal, and it’s likely to last until the end of the week.
Heat warnings and advisories are in effect for eight states: North Dakota, South Dakota, Nebraska, Illinois, Wisconsin, Iowa, Minnesota and Missouri.
Read the rest of How will the current US heat wave impact corn and soybean prices? » » »
Posted: April 1st, 2013 | Author: Rod Sherkin | Filed under: Agricultural, Corn, Food, Soybaens, Wheat | Tags: Corn, corn outlook, corn price, soybean, wheat | No Comments »
Chicago corn prices experienced their biggest two-day drop on record, tumbling 12.6 percent, or 93 cents, as larger-than-expected U.S. stockpiles weighed on the market, causing hedge funds to sell heavily.
Pressured by corn, Chicago wheat fell to its lowest nearby price in nine months, and soybeans hit a nearly three-month low.
Read the rest of Corn posts biggest-ever two-day decline on big supply » » »
Posted: November 9th, 2012 | Author: Rod Sherkin | Filed under: Agricultural, Commodities, Soybaens, Wheat | Tags: Corn, corn price, soybean, soybean price, US drought, wheat, wheat price | No Comments »
Soybeans tumbled to a four-month low and wheat fell the most in a month after the U.S. raised its estimates for crop inventory including corn, easing concern over tight supplies following the worst drought since 1956.
Soybean futures for January delivery fell 3 percent to close at $14.5125 a bushel at 2 p.m. on the Chicago Board of Trade. Earlier, the oilseed touched $14.49, the lowest for a most-active contract since July 3. On Sept. 4, the price rose to a record $17.89.
Wheat futures for December delivery dropped 1.7 percent to $8.865 a bushel, the biggest decline since Oct. 12. The price has surged 36 percent this year. On July 23, the grain reached $9.4725, the highest since August 2008.
Read the rest of Soy, Wheat Fall as U.S. Forecasts Ease Supply Concerns » » »
Posted: October 11th, 2012 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, Cotton, Food, Soybaens | Tags: agriculture, commodities, Corn, cotton, soybean | No Comments »
USDA released today its October Crop Production report which shows corn production down slightly from September forecast, soybean production up 9% and cotton production up 1%.
Corn production is forecast at 10.7 billion bushels, down slightly from the September forecast and down 13 percent from 2011. This represents the lowest production in the United States since 2006. Based on conditions as of October 1, yields are expected to average 122.0 bushels per acre, down 0.8 bushel from the September forecast and 25.2 bushels below the 2011 average. If realized, this will be the lowest average yield since 1995. Area harvested for grain is forecast at 87.7 million acres, up less than 1 percent from the September forecast and up 4 percent from 2011. Acreage updates were made in several States based on administrative data.
Read the rest of USDA releases new Crop Production report » » »
Posted: September 21st, 2012 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn, Food, Soybaens | Tags: Corn, soybean, wheat | No Comments »
Corn, wheat and soybeans prices might have peaked after this summer drought in the US according to Macquarie Agricultural Funds Management, and it would take worsening weather elsewhere to push up futures.
Corn is still up 16 percent this year at $7.505 but has tumbled 12 percent from a record $8.49 a bushel on the Chicago Board of Trade and soybeans have jumped 34 percent to $16.24 but are now down 9.2 percent from a high of $17.89 a bushel.
Read the rest of US Drought: Corn, Wheat, Soybeans prices to go down » » »
Posted: August 8th, 2012 | Author: Pascal Blanc | Filed under: Commodities, Food, Soybaens | Tags: soybean | No Comments »
The Russian government has decided to increase customs duties on soybeans, APK Inform reported. Currently set at 5%, with a minimum of 8.5 euros per tonne, they are raised from August 23rd to 20% with a minimum of 35 euros per tonne.
These tariffs apply to all countries except members of the Custom Union, Kazakhstan and Belarus.
Read the rest of Russia wants to limit soybeans exports » » »
Posted: July 31st, 2012 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Corn | Tags: Corn, soybean | 2 Comments »
“The damage has been done to the corn crop,” Peter Meyer, a senior director of agriculture commodities at PIRA Energy Group in New York, said by telephone today. “Now the weather is starting to become more of a factor in the soybean markets.”
The condition of the U.S. corn crop worsened for an eighth straight week amid the worst Midwest drought in a generation. The worst of the drought occurred when corn plants were going through the critical pollination stage last month. Soybeans, which normally are planted later in the Midwest, are just now entering reproductive stages, so they have more time to grow.
Read the rest of US drought: Corn and soybean conditions decline further » » »
Posted: July 11th, 2012 | Author: Rod Sherkin | Filed under: Agricultural, Commodities, Corn, Food, Soybaens | Tags: Corn, food, soybean | No Comments »
U.S. corn and soybean crops, the world’s largest, are in the worst condition since the last major drought in America’s breadbasket in 1988, the government said on Monday, pushing up grain prices and raising the prospect of global food-price inflation.
Corn and soybean prices soared at the Chicago Board of Trade, based on forecasts that thirsty crops will get no relief for at least another week, although a record-shattering heatwave abated over the weekend in the eastern half of the country.
via Food price worry as US corn, soybeans in worst state since 1988 – Reuters.
Posted: June 26th, 2012 | Author: Pascal Blanc | Filed under: Commodities, Food, Soybaens | Tags: argentina, soybean | No Comments »
One month after the southwestern province of Buenos Aires, the heart of the Argentine agricultural power, has been under water, Argentina is now facing a drought, leading analysts to revise soybeans production forecast down.
The Ministry of Agriculture estimates the soybeans production at 42.9 million tons this year, but professionals from Bolsa de Comercio de Rosario, the Rosario Board of Trade, and the first international port for soybeans, are more pessimistic. They expect around 40.5 million tonnes, against 52 to 53 million tons forecasted in spring.
Read the rest of Argentina: Drought after Flood » » »