Soybeans rose after an industry report showed increased demand from U.S. makers of animal feed and vegetable oil. Corn fell for an eighth session, the longest slump since 2005, on slowing demand for U.S. grain.
Wheat fell on speculation that a stronger dollar will curb demand for U.S. supplies as favorable weather improves the outlook for the winter crop in Kansas, the country’s largest grower.
There are plenty of bearish signs for international wheat prices and little that’s bullish, yet prices are still susceptible to a short-term bounce, according to an analysis issued Friday by Commonwealth Bank of Australia (CBA.AU).
Wheat rose for the first time in four days on speculation that a slumping dollar will revive demand for grain from the U.S., the world’s largest exporter.
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.