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.
Wheat fell the most in a week as demand slackened for grain from the U.S., the world’s biggest shipper, because rival producers offered cheaper supplies.
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.
Sugar futures rose the most in a week on speculation that more rain may delay the harvest in Brazil, the world’s largest producer.
Cattle futures rose to the highest level in more than two weeks on signs of declining supplies available to U.S. beef processors. Hog futures also gained.
India will aim to buy a record 26.3 million metric tons of wheat for federal grain stocks in the current marketing year that started on April 1 as it is heading for a bumper harvest, a top official with the state-run Food Corporation of India said Wednesday.
Just because Brazil decided to lift import tariffs on foreign ethanol doesn't mean the U.S. should follow suit, groups representing U.S. ethanol producers said Tuesday.
Iraq's state-run Grain Board has purchased 400,000 metric tons of wheat from Russia, the U.S. and Canada for delivery in May and June this year, the third large Iraqi wheat purchase this year, the head of the board said Wednesday.
National Commodities Supply Corp., or Conab, on Wednesday estimated Brazil's 2009-10 soy crop at 67.4 million metric tons.
Sugar fell in New York for the third time in four sessions on renewed concern that output will top forecasts in India, the world’s second-biggest grower. Orange juice dropped to the lowest price in more than three months.