Reuters / Top U.S. agriculture officials Monday were to face questions about quarterly estimates for corn inventories that have frustrated traders and roiled markets for the past two years. Traders said they would raise their concerns about supply estimates at the U.S. Department of Agriculture’s annual meeting in Chicago for users of agricultural data. The
USDA hears earful about corn estimates at annual meeting
U.S. grain prices seen extending drop after drought rally
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
U.S. soybeans recover to close higher after Fed decision
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
U.S. corn closes at two-month low on USDA data
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
U.S. soybeans drop five per cent from record high
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
U.S. corn at six-week low ahead of USDA reports
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
Pro Farmer tour puts corn and soy yields under USDA’s
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
Futures industry shaken as another broker goes bankrupt
Reuters / Russell Wasendorf Sr., arrested last Friday, confessed to a 20-year fraud at Peregrine Financial Group (PFG), 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,
Ego too big to fail, PFG founder admits 20-year fraud
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
Millions of acres expected to exit U.S. federal conservation program
Reuters / North Dakota farmer Justin Zahradka will plant wheat this spring on 40 acres that has been off limits for two decades, protected by a government conservation program that is shrinking as high crop prices make farmland more valuable. The 18-year-old high school senior leased the land a year ago from a neighbour who
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