Ending stocks of Canada’s grain and oilseed crops at the termination of the 2010-11 crop year will be slightly higher than what was projected in January but below the level forecast for 2009-10, Agriculture and Agri-Food Canada’s market analysis division said Wednesday.
Perfect growing conditions across much of Argentina’s farm belt are boosting the prospects for Argentina’s 2009-10 soy crop, the Buenos Aires Cereals Exchange said in its weekly crop report Thursday.
Wheat prices fell to a one-month low after the U.S. government said domestic inventories will climb to the highest level since 1988.
Coffee futures rose in New York, heading for the first weekly gain since last month, as inventories slid to lowest amount in seven years. Cocoa prices increased.
Wheat futures fell to a one-month low after the government forecast larger stockpiles in the U.S., the world’s biggest exporter.
Soybeans rose to a one-week high after the U.S. said inventories will be smaller than forecast and that China purchased supplies from American exporters.
Sugar futures continued their freefall, dropping to a seven-month low in New York, as output increased in Brazil and India, the top producers.
Corn fell for a fourth straight session and soybeans dropped to a three-week low on speculation that the global economic recovery is slowing and a stronger dollar will reduce investment demand.
Sugar prices tumbled to a seven- month low on signs of higher output in India, the world’s biggest consumer and second-largest grower.