China acknowledges need for sizeable corn imports

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China acknowledged what analysts have long proclaimed, that it will make substantial corn imports, to keep its huge hog herd in feed and meet growing demand for pork among its enriched population. The China National Grain and Oils Information Centre, China’s official crop think tank, pegged the country’s corn imports in 2011-12 at a record…


Corn frenzy grips CBOT, soybeans drop

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NEW YORK(Commodity Online): Corn frenzy has gripped the CBOT as the commodity advanced most in 16 months on the exchange when investors flocked to buy the commodity after it witnessing 23% slump last month. Corn for December delivery jumped as much as 1.2 percent to $6.525 a bushel on the Chicago Board of Trade and…


Huge Chinese corn order confirmed, but prices ease

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Corn futures eased despite confirmation of a huge Chinese import purchase, which prompted talk that US officials may have been too gloomy in downgrading expectations for US exports of the grain. US Department of Agriculture officials said that China had purchased 900,000 tonnes of American corn, with a further 292,000 booked to an "unknown" destination,…


Corn, soybeans fight back after USDA report

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After dropping as much as 10 cents per bushel in early trading on the Chicago Board of Trade after what appeared to be a bearish U.S. Department of Agriculture harvest report, corn and soybean prices fought back to end the day unchanged. Corn closed the market day down about a half-cent at $6.44 per bushel…


Corn rally changes ideas over key US crop report

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The strength of the rebound in corn prices signals that a key crop report later on Wednesday may have trouble reversing the rally, and would require far higher crop estimates than analysts are counting on. The US Department of Agriculture is expected, in its monthly Wasde report, to edge its forecast for the domestic corn…


US attack on China poultry levies sinks corn rally

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An attack by Washington on Beijing’s barriers against chicken imports was blamed for undermining a rally in corn futures – dampening hopes of China turning to the US to bolster tight supplies of the grain. Ron Kirk, the US trade representative, urged the World Trade Organization to investigate Chinese duties imposed a year ago on…


Frost dents further US corn and soybean prospects

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The North American freeze last week appears to have done more damage to crops in some areas than initially thought, with corn and soybeans in Minnesota suffering a particular downgrade. The condition rating of the soybean crop in North Dakota tumbled by nine points to 60%, in terms of the proportion rated in "good" or…


Drought, heat, high demand send corn prices soaring

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Corn is a mighty hot commodity these days. Prices soared in August after weather damage across the Corn Belt led the U.S. Department of Agriculture to predict lower yields than previously expected. Some agronomists and farmers predict yields will be even lower because the heat and drought continued. All the while, demand for corn seems…


GRAINS-Wheat & corn futures steady in cautious Asia trade

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SYDNEY, Sept 9 (Reuters) – U.S. wheat futures steadied in early Asian trade on Friday, though remained under pressure from news that big new supplies of the grain were to be offered from India. Trade was also watchful, after three days of falls and with no big surprises from U.S. President Barack Obama’s announcement of…


French wheat, corn output revised up on good summer

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PARIS (Commodity Online): The good summer growing conditions has raised the expectations of the Wheat and Cornoutput in France. In August, the forecast for the wheat crop had been raised to 500,000 tons and further raised to 1 million tons on Wednesday by farm ministry; now the total estimates has touched 33.5 million tons. The…


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