GRAIN HIGHLIGHTS : Top Stories of the Day
06/25/2012| 06:26pm US/Eastern
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TOP STORIES:
UPDATE: CME Presses On With Grain Pricing Changes Despite Lawsuit
CME Group Inc. (CME) forged ahead Monday with a new process for calculating closing prices for its benchmark grain markets, while a last-minute legal challenge by floor traders contesting the changes confronted hurdles.
STORIES OF INTEREST:
U.S. Crop Progress: Corn Ratings Slump on Stressful Weather
CHICAGO--The U.S. Department of Agriculture on Monday lowered its condition ratings for the nation's corn and soybean crops.
Commodities Market Impact Weather:Hot and Stressful in Midwest
OMAHA--Hot and stressful Midwest conditions, exhausting heat in the Delta, a hot and dry trend in the Southern Plains, limited rainfall from Tropical Storm Debby, mixed rain prospects for the Southeast, a drier stretch in the Northern Plains, a drier and milder period for the Canadian Prairies, scattered rainfall in Ukraine, showers over the former Soviet New Lands region, prospects for showers in the North China Plain, a weak India Monsoon pattern, and a mild trend in Australia's wheat areas are the main weather items for the commodity trade's attention Monday.
Ukraine Harvests 584,000 Tons Grain To June 25
MOSCOW--Ukraine harvested 584,000 metric tons of grain on 354,400 hectares, or 3% of the total area to be harvested, with the average yield of 1.65 tons a hectare to June 25, the agriculture ministry reported Monday.
Russia Agriculture Ministry: 2012 Grain Harvest Down at 85M Tons
MOSCOW--Russia's agriculture ministry expects the country's grain harvest this year to fall to 85 million metric tons, from 94.2 million tons in 2011 because of damage to crops by unusually severe frosts in winter and the current drought, Agriculture Minister Nikolai Fedorov said in Moscow Monday, according to Russia's government press service.
USDA Says 120,000 Tons of Soybeans Sold to China in 12-13
WASHINGTON--Private exporters reported to the U.S. Department of Agriculture export sales of 120,000 metric tons of soybeans to China during the 2012/2013 marketing year.
MARKETS
U.S. GRAIN AND SOY REVIEW: Corn Futures Go Limit-Up on Dryness
CHICAGO--Both nearby and deferred U.S. corn futures closed limit-up Monday, after surging on concerns that hot and dry weather could damage the U.S. crop and shrink its yield.
Write to Andrew Johnson Jr. at andrew.johnsonjr@dowjones.com
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