Dry weather and poorly timed planting are weighing on Brazil’s second corn crop this year, reviving fears of another surge in feed prices like the one that battered big meatpackers after a 2016 drought.
Wall Street closed lower on Wednesday with the S&P suffering its biggest one-day percentage drop since February, as inflation data fueled concerns over whether interest rate hikes could happen sooner than anticipated.
Chicago Board of Trade soybean futures jumped 1.8% on Tuesday, surging above $16 a bushel for the first time since September 2012 as traders focused on prospects for tight supplies until late 2022.
Chinese buyers bought 1.36 million tonnes of U.S. corn, matching their seventh biggest ever purchase of U.S. supplies of the grain, the U.S. Agriculture Department said on Friday.
Chicago Board of Trade corn futures extended a rally on Thursday above eight-year highs as dry weather threatened harvest yields in major exporter Brazil and kept the focus on ebbing global supplies.
The Biden administration outlined six categories for how land and water should be used as a first step toward carrying out the president’s campaign pledge to conserve 30% of U.S. land and water over the next decade.
Futures exchange operator CME Group Inc said on Tuesday it will not reopen the physical trading pits which it closed last March due to the COVID-19 pandemic.
U.S. ag commodities trader Bunge Ltd adjusted income rose more than three-fold in the first quarter from a year earlier as strong crop export demand and stout oilseed crushing margins bolstered its core segment.
U.S. President Joe Biden’s climate summit will turn to the issue of technology on Friday, featuring remarks from entrepreneurs Bill Gates and Michael Bloomberg.
