2nd UPDATE: USDA Sees Tighter U.S. Soybean Supplies on China Demand
CHICAGO--Soybean futures rose 0.7% on Tuesday, as the government cut its forecasts for U.S. soybean supplies and traders worried that dry weather could hinder development of Midwest soy crops.
Subdued Reaction To Crop Report, Expanded Grain Trading Hours
CHICAGO--Traders of agricultural commodities Tuesday had their first opportunity to make deals the instant the government released its key monthly supply and demand report.
STORIES OF INTEREST:
CBOT Soybean, Corn Inverse Narrows on Upcoming Harvest, Slow Demand
SINGAPORE--Spreads between front-month and forward-month contracts for both corn and soybeans on the Chicago Board of Trade are narrowing as near-term demand tapers off and long liquidation ahead of global harvests in the second half of 2012 draw nearer.
Iranians Hold Preliminary Talks To Sort Out Wheat Exports From India
NEW DELHI--An Iranian government delegation met with its Indian counterparts Tuesday to discuss possible wheat purchases and ways of resolving the problem of traces of a fungal disease found in the Indian wheat, two senior government officials said.
Commodities Market Impact Weather: Rains in Southeast
A focus on rain in the western Midwest, welcome rains in the Delta, brief showers in the Texas area of the Southern Plains, a continued favorable trend in the Northern Plains, helpful rains in the Southeast, sustained rain in the Canadian Prairies, scattered rainfall in Ukraine, a mixed shower pattern in the former Soviet New Lands region, very warm and dry conditions in central China, a mostly late-arriving India Monsoon, and additional rain for Western Australia are the main weather items for the commodity trade's attention Tuesday.
U.S. GRAIN AND SOY REVIEW: Soybean Futures Rise on USDA Report
CHICAGO--Soybean futures closed higher on Tuesday, as the government cut its forecasts for U.S. soybean supplies and traders worried that dry weather could hinder development of Midwest soy crops.
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