Corn futures are little changed, set for the first weekly gain in three weeks, after the U.S. pared its forecast for the nation’s inventory of the grain to the smallest since 2007 on higher demand from ethanol producers.
The United Nation's incoming chief on climate change cautioned Wednesday it could take until 2050 to build the machinery that will ultimately tame greenhouse gases.
The French government has confirmed its estimate for soft wheat production in 2009-10 at 36.5 million metric tons, data from the Agriculture Ministry's statistics arm show Wednesday.
The China National Grain and Oils Information Center said Wednesday that it expects the country's corn output in 2010 to rise 2.5% to 168 million metric tons on the back of increased planted area.
The U.S. Department of Agriculture is expected to trim its forecast for the 2010-11 U.S. winter wheat crop from last month, with analysts projecting a drop in hard red winter wheat production.
Only a few minor tweaks are expected to old- and new-crop soybean balance sheets when the U.S. Department of Agriculture releases its June supply and demand report Thursday.
China’s corn production this year may increase 2.5 percent from 2009 to 168 million metric tons as farmers boost plantings, the China National Grain & Oils Information Center said.
Corn futures rose after yesterday’s slump to the lowest in more than two weeks may have attracted importers and investors.
The U.S. corn crop is expected to continue getting larger as farmers produce less wheat and soybeans, the U.S. Department of Agriculture said Tuesday.
Brazilian farmers harvested 99% of the upcoming 2009-10 soy crop as of May 7, local agricultural consultancy Celeres said in a weekly report.