Soybeans Slide as Investors Retreat to Safe Havens -- Daily Grain Highlights marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
Wheat Higher After USDA Cuts Production and Yield Forecasts Wheat for September delivery rose 4.2% to $6.40 3/4 a bushel, on the Chicago Board of Trade Monday, in reaction to the USDA reporting lower estimates for 2021 crop yields and production than expected by analysts. Wheat futures on the CBOT charged higher following the release of the USDA s WASDE report which showed lower yields and crop production than initially anticipated. The USDA now forecasts 2021 crop yields at 45.8 bushels per acre, down from 50.7 bushels per acre projected last month. Production is now expected to total 1.75 billion bushels, down from 1.9 billion bushels last month. Analysts surveyed by The Wall Street Journal had expected production to rise. The production forecasts for durum and other spring wheat indicated a significant decline compared to last year for these two classes due to the severe drought conditions affecting the Northern Plains, said the USDA in today s report.
6/29/2021 U.S. corn, soy plantings seen up from March Canadian farmers expand canola plantings
(Adds closing prices)
By Tom Polansek
CHICAGO, June 29 (Reuters) - Chicago Board of Trade corn and
soybean futures were mixed on Tuesday as traders adjusted
positions ahead of key U.S. reports on crop plantings and
inventories.
The U.S. Department of Agriculture on Wednesday is expected
to increase its estimate for corn plantings by about 3% from
March, according to a Reuters poll of analysts. Soybean
plantings are seen up 1.5% from March.
Still, traders remain nervous about the risk for hot or dry
weather to hurt yields when grain stocks are slim.
GRAINS-Corn futures rise on U S weather worries, awaiting plantings report agriculture.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from agriculture.com Daily Mail and Mail on Sunday newspapers.
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CHICAGO Chicago Board of Trade soybean futures jumped on Monday on concerns about strong export demand tightening U.S. supplies and smaller-than-expected plantings.
The market refocused on supply worries after being closed on Friday for Good Friday.
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The U.S. Department of Agriculture shocked traders last week by reporting that U.S. farmers plan to sow 91.1 million acres with corn this spring and 87.6 million acres with soybeans. Both estimates were well below analysts’ expectations for 93.2 million corn acres and 89.996 million soybean acres.