Weather forecasts raise yield risk for U.S. corn, soy crops Brazil drought set to cut corn crop, hamper river logistics U.S. spring wheat stress, global demand support wheat (New throughout; updates byline, dateline previously PARIS/SINGAPORE)By Christopher WalljasperCHICAGO, June 4 (Reuters) - Chicago corn, soybean and wheat futures gained on Friday as hot, dry conditions
Argentine growers sell 20 mln tonnes of soy in 2020/21 as harvesting ends
Argentine farmers have sold 20 million tonnes of soy from the 2020/21 season, after transactions for 606,000 tonnes were registered over the past week, the Agriculture Ministry said in a report on Tuesday, including data updated through May 26.
With growers finishing this season’s harvest, the rhythm of soybean sales in Argentina is behind that of the previous season, when sales of 23.8 million tonnes had been registered by this date, according to official information.
The soybean harvest is expected at 43.5 million tonnes, according to the Buenos Aires Grains Exchange, versus 49 million tonnes estimated by the exchange to have been brought in during the 2019/20 season.
Corn, soybeans and wheat all spill lower in Thursday’s session
A strong start so far to the 2021 growing season put grain prices back on their heels Thursday. Corn prices sagged 2% lower as traders returned their focus the strong start to the 2021 growing season, despite some hot, dry weather lurking in the mid-range forecasts. Soybeans slid nearly 1% lower, meantime, while wheat prices fell as much as 1.5% today after a round of technical selling.
Very little rainfall is expected anywhere in the Midwest and Plains between Friday and Monday, with no areas expecting much more than 0.1” additional moisture during that time, according to the latest 72-hour cumulative precipitation map from NOAA. The agency’s 8-to-14-day outlook, covering June 10 to June 16, predicts seasonally dry weather spreading across most of the central U.S., with hotter-than-normal temperatures also likely for the northern half of the country.
6/2/2021 The U.S. soybean planting pace is slower than expected, but the weather forecast is enough to support the market this week. The five-day forecast shows almost no rain for the Dakotas, Nebraska, Iowa, Minnesota, and the northern half of Illinois. While rains were active last week, parts of the Dakotas did not receive ample amounts, and this could start a dry-down of soils. The six- to 10-day forecast shows hot weather for the Dakotas and northern Corn Belt with precipitation expected to be normal to below normal. The eight- to 14-day models are similar. There is not much room for error for the new crop season.
Corn gains for third session, market eyes second weekly rise U.S. output, China's appetite to provide price direction (Adds quote in paragraph 3, fund positioning)By Naveen ThukralSINGAPORE, May 28 (Reuters) - Chicago corn futures rose on Friday, with the market poised for a second weekly gain in a row as strong demand for the feed grain supported prices.Wheat eased, while