GRAIN HIGHLIGHTS : Top Stories Of The Day
05/23/2012| 04:20pm US/Eastern
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TOP STORIES:
UPDATE: China Buyers Cancel Soybean Cargoes As Prices, Margins Fall - Traders
Some Chinese soybean importers have cancelled soybean import cargoes scheduled for delivery in the next few months, because they fear the recent fall in prices that has wiped out their crushing margins may extend further, separate traders said Wednesday.
STORIES OF INTEREST:
Wheat Growers Urge Govt To End Canadian Pacific Rail Strike
WINNIPEG - The Western Canadian Wheat Growers Association is urging the federal government to end the Canadian Pacific Railway Ltd. (CP) strike.
US Cash Grain Markets: Slower Demand Pressures Soy Export Basis
A drop in U.S. cash soybean basis levels at Louisiana Gulf export terminals suggests falling demand.
2nd UPDATE: Monsanto To Buy Planting Technology Company, Unveils New Platform
Monsanto Co. (MON) is paying $210 million for a maker of crop-planting technology as the agribusiness company steps up efforts to diversify beyond seed production.
THE MARKETS:
US GRAIN AND SOY REVIEW: Soy Falls On Weather, China Worries
Soybean futures fell 1.4% to a nearly two-month low, as weather forecasts improved for U.S. crops and traders worried about signs of slowing Chinese demand.
US LIVESTOCK REVIEW: Demand Fears, Market Losses Swamp Futures
CHICAGO (Dow Jones)--U.S. live cattle futures followed hog contracts lower on Wednesday as concerns about meat demand after Memorial Day added to selling tied to a sharp selloff in other stocks and commodity markets.
-By Owen Fletcher, Dow Jones Newswires; 312-750-4120; owen.fletcher@dowjones.com
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