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GRAIN HIGHLIGHTS : Top Stories Of The Day

07/20/2012| 09:00am US/Eastern
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Grain futures traded on Globex overnight were generally higher at 1235 GMT Friday.

 
                   Last        Change   High       Low         Volume 
   DEC Corn        $7.87 1/2   +9       7.92       7.79         27601 
   SEP Wheat       $9.29 1/4   -5 3/4   9.38 1/2   9.21         8241 
   NOV Soybeans    $16.74      +21 3/4   16.82 3/4  16.45       28725 
   DEC Soymeal     $497.9      +10.6    500.6      484.3        6743 
   DEC Soyoil      $55.20      -0.01    55.51      54.98        9560 
 
TOP STORIES: 
 
Grain, Oilseed Prices to Rise Further on US Drought -Rabobank 

CANBERRA--Global grain and oilseed prices-some of which reached record highs Thursday-will rise further in coming months as markets increasingly factor in the full impact of the worst U.S. drought since at least 1988, agricultural lender Rabobank said Friday.

 
Australia's 2012-13 Wheat Crop Forecast 25 Mln Tons -Rabobank 

Australia's 2012-13 wheat crop could yield 25 million metric tons, Rabobank Australia forecast Friday, though concerns voiced this week about dry weather in Western Australia and the three-month rainfall outlook suggest this estimate could be optimistic.

 
India's New Tax Structure Expected to Slash Imports of Refined Palm Oil 

NEW DELHI--India's planned new import tax structure for refined palm oil will raise tax revenue and protect local refiners from a flood of cheaper refined palm oil from Indonesia, industry executives said Friday.

 
Argentine Soybean Prices Set New Record On Drought Fears In U.S. 

BUENOS AIRES--Argentina soybean prices set a new high mark Thursday as drought in the U.S. continued to scorch crops and stoke worries over global supply.

Write to Hellen Kaffaf at hellen.kaffaf@dowjones.com

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