Soybeans jump after ‘blowtorch heat’ wilts US crop

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Soybean futures jumped in early deals after the US cut its production estimate by considerably more than the market had expected, signalling a squeeze on supplies which looks set to have global repercussions. The US Department of Agriculture cut its estimate for the US soybean yield this year by 2.0 bushels per acre to 41.4…


ICAC cuts world cotton harvest estimate – a little

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Cotton experts cut their forecast for world production of the fibre – but not by as much as many analysts have pencilled in. Cotton futures eased despite supportive comments from Standard Chartered. The International Cotton Advisory Committee cut by 500,000 tonnes, to 26.9m tonnes (123m bales), its forecast for world production of the fibre in…


Cattle futures defy weight of data to pare losses

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Cattle futures staged a surprise rebound on Monday despite a barrage of apparently bearish data showing a bigger US herd than had been expected – with the revival attributed by some to potentially smaller animals. Both feeder and live cattle opened weak in Chicago, running to traders’ script after a key US Department of Agriculture…


Official corn and soy harvest estimates ‘too high’

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Lanworth, the analysis group which draws crop estimates from satellite data, has pegged the US corn harvest 570m bushels below government estimates, warning of weather damage and lower sowings than officials are counting on. The prominent consultancy, which was also more downbeat that the US Department of Agriculture on prospects for the country’s soybean output,…


Record-low cattle herd could herald profits surge

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Data due on Friday expected to show the US cattle herd shrinking to its lowest on record could represent a marker on the road to a far more profitable ranching sector. The US Department of Agriculture is due later, in a twice-yearly report, to show the domestic cattle herd falling by 1.4% from July 1,…


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