News

Rabobank Australia Thursday increased its forecast for Australian wheat production this crop year to 21.8 million metric tons, citing "outstanding" seasonal conditions in the eastern states.

Good weather and prospects for high yields in the northern areas and the central farm belt led the Buenos Aires Cereals Exchange to raise its forecast for soybean production to 54.5 million metric tons, shattering the country's previous soy output record.

Soybeans fell for the first time in three days on speculation that record acreage in the U.S. will lead to surging global inventories as South American farmers harvest their biggest crops ever.

Soybeans rose to a one-week high on speculation that China, the world’s biggest oilseed importer, will allow its currency to rise against the dollar in a move that would cut the cost of purchasing supplies from the U.S.