WHEAT – Up 10 to 15 cents per bushel.
Boosted by falling dollar after U.S. Fed decided to buy bonds in a risky move to boost the struggling U.S. economy. Dry weather in the U.S. Plains HRW wheat region also supportive.
* Showers in the U.S. Delta will buoy winter wheat prospects but more rain is needed. Dry weather in the U.S. Plains continues to stress winter wheat development.
* Hot weather and dryness in west Australia continues to stress the filling and maturing wheat crop. CORN – Up 7 to 10 cents per bushel.
Falling dollar, rising crude oil and forecasts for
declining U.S. corn production this year and shrinking corn
supplies combine to lift corn futures.
* CBOT December <CZ0> last up 8 cents per bushel at $5.89 in Globex trade.
* Overall satisfactory weather is seen for the U.S. Midwest now through the weekend for rapid completion of the 2010 corn and soybean harvest. * U.S. cash corn basis steady to firm late on Wednesday amid choppy action in the futures market and slow farmer sales.
SOYBEANS – Up 15 to 20 cents per bushel.
Support from Fed move to buy bonds, which weakened the
dollar while boosting equities, crude oil and gold.
* CBOT November <SX0> last up 17-1/4 cents per bushel at $12.44-3/4 in Globex trade.
* Showers in Brazil now through the middle of next week seen buoying soy crop prospects and overall satisfactory crop weather continues in Argentina with the exception of Cordoba,
where a drying trend began in October. [
* No deliveries posted against November.
* U.S. cash soy basis steady to firm late on Wednesday and farmer selling was slow.
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