Yield reports push crop prices up

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More reports of smaller-than-expected corn and soybean yields this year set off another rally Friday on the Chicago Board of Trade. “This is a weather-driven rally,” said Don Roose of US Commodities in West Des Moines. “We’re in a race to the bottom on yields.” Farmers, end-users and traders had hoped for bumper crops this…


Chicago wheat hikes on dry weather outlook

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CHICAGO, Aug 25, 2011 (Xinhua via COMTEX) — Chicago wheat rebounded on Thursday as the dry weather in U.S. Great Plains threatened to dampen the planting of winter crop. Corn and soybeans settled almost unchanged after choppy and two-side trading. The most active corn contract for December delivery closed at 7. 435 U.S. dollars per…


Wheat, Corn Futures Decline in Chicago, Snapping Three-Day Advance of 6.1%

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Wheat and corn futures dropped in Chicago, snapping three days of gains. Wheat for December delivery slid as much as 0.5 percent to $7.81 a bushel and traded at $7.82 at 8:07 a.m. Singapore time, after advancing 6.1 percent in three days and reaching a two- month high. Corn fell 0.1 percent to $7.425 a…


Corn Climbs in Chicago on Falling Stockpiles; Wheat, Soybeans Also Advance

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Corn climbed for the first time in three sessions as falling stockpiles revived speculation that supplies aren’t enough to meet demand. Wheat and soybeans rose. Global corn stockpiles may fall 6.8 percent in the 2011-12 marketing year to 114.5 million metric tons, the U.S. Department of Agriculture said in a report on Aug. 11. The…


Chicago grain futures climb fourth session in row

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CHICAGO, — Chicago corn and soybean futures extended gains on Monday, relying on the lingering support as U.S. government cuts it projection for grain output last week due to the heat and drought in U.S. Midwest this July. Wheat jumped more than one percent, on strong demand from Saudi Arabia and U.S. weather concerns. The…


ADM profit falls 15% on higher taxes, corn costs

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–Profits Fall 15%, Miss Analysts’ Expectations –Earnings Slip On Taxes, Corn Costs –Oilseed Processing, Grain Merchandising Businesses See Profits Increase (Updates with detail on taxes, corn prices, share price.) Archer Daniels Midland Co.’s ADM -5.36% fiscal fourth-quarter earnings fell 15% on a sharply higher tax bill and increased corn costs, even as earnings grew at…


Corn, Wheat Called to Open Lower as Demand Slows; Soybeans May Extend Gain

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What follows are opening calls for U.S. grain and oilseed markets. — Corn futures are called to open 1 cent to 3 cents a bushel lower on the Chicago Board of Trade on speculation that demand will slow after a 69 percent rally in prices during the past year and an unexpected drop in U.S.…


Wheat, Corn Gain as U.S. Agrees to Debt Deal to Avoid Default

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Aug. 1 (Bloomberg) — Wheat futures advanced for the first time in three days after President Barack Obama announced that lawmakers have reached an agreement to raise the federal debt limit and avoid a default. Corn futures also increased. December-delivery wheat gained as much as 1.1 percent to $7.235 a bushel on the Chicago Board…


CBOT Updates: Rice settles down

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CHICAGO (Commodity Online): US Rice futures finish lower on profit-taking as traders continued taking money off the table after the market reached a 2 1/2-year high Tuesday. Nervousness about deadlocked talks to raise the US debt limit accelerated losses, traders say. Rice felt additional pressure from the International Grain Council’s estimate that global rice output…


Fruit of diplomacy: Pakistani mangoes make U.S. debut in Chicago

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Trade agreement followed 2 years of dialogue, Pakistan’s ambassador says Despite a recent souring of U.S.-Pakistan relations, a new trade development promises to sweeten up things. The first shipment of Pakistani mangoes to the U.S. touched down at O’Hare International Airport last week, the fruits of what Pakistani Ambassador to the U.S. Husain Haqqani said…


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