Chicago corn futures ticked up in rangebound trade on Thursday as stout export sales, weather concerns in Argentina and strong demand added support, analysts said.
As U.S. farmers grapple with soaring debt and slumping incomes, some crop producers are trading their tractors for flocks of sheep, and starting up solar grazing businesses to help make ends meet.
U.S. grains merchant Archer-Daniels-Midland is making a fresh wave of job cuts this week at its largest unit, the grain trading and oilseed processing division, according to three sources briefed on the matter.
Chicago soybean futures sank to life-of-contract lows on Tuesday as favorable crop conditions in Brazil and weak Chinese demand for U.S. soybeans hung over the market, traders said.
World food prices rose in October to an 18-month high as vegetable oils led increases seen in most food staples, United Nations' data showed on Friday.
The United Nations' world food price index rose in November to its highest level since April 2023, recording its biggest gain in 19 months on the back of surging vegetable oil prices, data showed on Friday.
Soybean futures eased on Monday on forecasts for rain in dry areas of top exporter Brazil and Argentina and on rising United States supplies as clear Midwest weather boosted harvesting.
China’s soybean imports hit the highest level ever for the month of June, a Reuters calculation of customs data showed on Monday, driven by a surge in shipments from top supplier Brazil.
Global food commodity prices edged higher in June, supported by higher meat, vegetable oil and dairy prices, the United Nations' Food and Agriculture Organization said on Friday.