Reading Time: 2 minutes U.S. soybean futures rebounded from a four-and-a-half-month low on Tuesday, as bargain buying snapped a four-session slide that nearly erased gains from this summer’s crippling drought. Before recovering, soybeans during the trading session had lost more than six per cent since the U.S. Department of Agriculture on Friday raised its U.S. harvest estimate more than […] Read more
Bargain buying lifts U.S. soybeans from 19-week low
Technical selloff nearly erases U.S. soy’s drought rally
Reading Time: 3 minutes Grain futures tumbled in a wave of technical selling on Monday, with soybeans sinking to a four-and-a-half-month low that nearly erased gains from this summer’s devastating drought. Prices were already under pressure after the U.S. Department of Agriculture on Friday raised its estimate of U.S. soybean production more than expected and increased its forecast for […] Read more
U.S. grain prices seen extending drop after drought rally
Reading Time: 3 minutes Grain futures will extend their setback from record highs this summer as concerns ease about the worst U.S. drought in more than half a century, according to speakers at an annual commodities conference. Corn futures at the Chicago Board of Trade (CBOT) have already pulled back 13 per cent from an all-time high of $8.43-3/4 […] Read more
U.S. soybeans recover to close higher after Fed decision
Reading Time: 2 minutes U.S. soybean futures edged higher on Thursday, shaking off early losses tied to profit-taking, after the U.S. Federal Reserve announced an aggressive new economic stimulus program. Soybeans added to Wednesday’s gains, when the market notched its biggest one-day rally in almost two weeks after the U.S. Department of Agriculture issued a tighter-than-expected supply outlook. At […] Read more
U.S. corn closes at two-month low on USDA data
Reading Time: 3 minutes U.S. corn futures tumbled one per cent to close at a two-month low on Wednesday as the U.S. government’s monthly assessment of crop damage from the worst drought in half a century fell short of trade expectations, as did its estimate of buffer stocks. Soybean futures soared 2.6 per cent for the biggest daily gain […] Read more
U.S. soybeans drop five per cent from record high
Reading Time: 3 minutes U.S. soybean futures set a three-week low on Tuesday as a swift harvest and profit-taking before key reports sparked selling that accelerated a five-day retreat from record highs. Benchmark soybeans for November delivery dropped below $17 a bushel for the first time since Aug. 21, while nearby soybeans for September delivery ended down five per […] Read more
U.S. corn at six-week low ahead of USDA reports
Reading Time: 3 minutes U.S. corn futures sank to a six-week low on Monday as traders moved out of bullish bets ahead of U.S. government reports that will give updates on crop damage from the worst U.S. drought in half a century. The U.S. Department of Agriculture’s monthly supply-demand and crop production reports on Wednesday could provide insight into […] Read more
Pro Farmer tour puts corn and soy yields under USDA’s
Reading Time: 2 minutes This summer’s historic drought ravaged corn and soybean production around the U.S. Midwest more than the government is predicting, Pro Farmer said on Friday. The farm newsletter predicted U.S. corn and soybean harvest would fall below the U.S. Agriculture Department’s most recent outlook. If their forecast is realized, the size of both crops would be […] Read more
Ego too big to fail, PFG founder admits 20-year fraud
Reading Time: 5 minutes Russell Wasendorf Sr., arrested on Friday, confessed to a 20-year fraud at his now-bankrupt Iowa brokerage, saying business troubles and his "big" ego left him no choice: "So I cheated." In the dramatic conclusion to a week-long saga that has shaken trader confidence in the trillion-dollar U.S. futures markets, authorities released parts of a detailed […] Read more
Mosaic cuts phosphate production
Reading Time: 2 minutes Fertilizer producer Mosaic Co. said Dec. 28 it will cut production of phosphate, a key nutrient used for crop production, because prices have fallen to unsustainable levels. The Minnesota-based company said it would cut its planned production of phosphate by 250,000 tonnes over the next three months, blaming economic uncertainty for a drop in prices. […] Read more