Iowa corn rating dips slightly

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The percentage of Iowa’s corn crop rated good to excellent by the U.S. Department of Agriculture dipped slightly from 75 percent a week ago to 73 percent for the week ending Sunday. The good to excellent condition rating for soybeans dropped from 76 percent last week to 75 percent in the latest report. “Soybean aphid…


Corn crop didn’t lose ground last week

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Despite unseasonably warm weather in much of the country last week, the condition of the corn crop did not lose ground. According to the U.S. Department of Agriculture’s “Crop Progress” report released Monday afternoon, 15 percent of the crop in the top 18 corn-producing states is in excellent condition and 45 percent is in good…


Evaluating corn and soybean production prospects

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The 2011-12 corn and soybean marketing year officially begins on September 1. As pointed out last week, the 2010-11 marketing year is ending with a slowdown in the consumption of both corn and soybeans, suggesting that year ending stocks could be larger than projected in the USDA’s July WASDE report. Those stocks will not be…


Goldman hikes corn, wheat, soybean price forecasts

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Goldman Sachs hiked its forecast for corn, soybean and wheat futures despite warning that an official US report next week could publish a higher yield estimates than investors expect and prompt a temporary plunge in prices. The bank raised its estimate for the price of Chicago’s near-term corn lot in three months’ time by $1.45…


July heat reduces Iowa corn’s quality

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The hottest July since 1955 has taken its toll on Iowa’s corn crop, with one forecast calling for a national corn yield this year no better than last year’s smaller yield. Iowa State University meteorologist Ellwyn Taylor said Monday that "with heat and humidity, the likely U.S. corn yield is likely to be about like…


Don’t blame ethanol for rising corn prices

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With the United States importing 65 percent of its oil, gasoline prices hovering near record levels, and a sweltering summer raising concerns about climate change, Congress is debating public policies that encourage the use of alternative fuels for our cars and trucks. Critics of renewable fuels keep claiming that the production of American ethanol threatens…


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.…


Corn prices surge as sizzling heat stresses crops

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By The Associated Press Corn prices are surging as sizzling heat is stressing crops in four of the nation’s top five producing states. Corn jumped 4.4 percent Tuesday to settle at $7.1575 a bushel. wheat and Soybean prices also rose. The U.S. Agriculture Department says about 62 percent of the corn crop was in good…


Data doubts fuel late surge in corn, wheat futures

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Grain prices put in a late burst in Chicago, taking gains above 3%, amid growing doubts over the official data which showed the US corn crop failing to deteriorate last week despite further heat. Corn for December, the most-traded contract, soared 3.7% to $7.11 ½ a bushel in late deals in Chicago, where wheat for…


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