Hard late-March rains in Argentina have set the stage for smooth wheat and barley sowing, but the storms arrived too late to help corn and soy yields in areas that had been pounded by months of dry weather.
U.S. quarterly stock data from USDA has long been known to create waves in the market, but the recent reports have felt tsunami-like due to some unusually large and unexpected adjustments to previous numbers.
Cotton futures edged lower in choppy trading on Monday, pressured by a firmer dollar, while expectations for a reduction to forecasts for planted acreage in a federal report due later this week put a floor under prices.
The maneuvers to try to refloat the mega container ship Ever Given, stranded in the Suez Canal since last Tuesday, have been successful early this Monday.
USDA Secretary Tom Vilsack said a Mexican plan to ban imports of GMO corn would apply to grain used for human food products, not livestock feed, based on a conversation he had with Mexican Agriculture Secretary.
The container ship blocking the Suez Canal could cost global trade $6 billion to $10 billion a week, a study by German insurer Allianz showed on Friday.
Bayer AG said on Friday it had reached an “amicable settlement” in its Monsanto unit’s long-running intellectual property dispute with Indian seed maker Nuziveedu Seeds Ltd (NSL) over genetically modified cotton seeds.
The Energy Information Administration said on Thursday it will expand biofuels data in its monthly report to account for the growth in U.S. production of renewable fuels.
A container ship blocking the Suez Canal like a “beached whale” may take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday in a new setback for global trade.
U.S. wheat futures fell to their lowest level of 2021 on Thursday, pressured by improving global production prospects and a firmer dollar, which tends to make U.S. grains less competitive globally, analysts said.
