WHEAT – Up 8 to 10 cents per bushel.
Dry weather in Australia, Russia and portions of Argentina,
combined with a season-ending frost in Canada that may have
harmed some of the immature crop, boosts wheat futures to
six-week high.
* Frost kills Canada crops, Wheat Board sees quality
concerns.
* Showers in portions of Russia and Ukraine help replenish
soil moisture, but more rain is needed, especially in the
southeast areas.
* Showers in the U.S. Plains recharging soil moisture
reserves; frost in Canada ended the growing season and harmed
any immature crops; rain is needed in Argentina to support
development of wheat; west Australia remains dry.
CORN – Up 8 to 10 cents per bushel.
Reports of lower-than-expected yields in the U.S. harvest,
concerns about a freeze in China and dryness in several
important global crop areas lift corn to near two-year high.
* Traders estimating U.S. corn harvest 20 to 25 percent
complete, up from 11 percent a week ago.
* Wet weather in the western and northern U.S. Midwest seen
slowing harvest. The harvest slowdown will be most evident this
week in the central, western and northeastern portions of the
crop region.
* U.S. exporters sell 165,000 tonnes of U.S. corn to South
Korea for delivery in 2010/11. [
* China August corn imports soar to 432,191 tonnes –
* Managed funds add to record corn stake amid rally
SOYBEANS – Up 20 to 25 cents per bushel.
Concerns about dryness in portions of South America’s crop
region, a freeze in Canada that may have harmed immature
canola, and a freeze in China combine to lift soybean futures
to one-year high. China’s Dalian soy and corn up sharply on
Monday.
* Dryness in portions of Brazil and Argentina leading to
concern about seedings of the 2011 soybean crop.
Drier weather in the U.S. Delta is favoring harvest.
* Managed funds remain net long in CBOT soy –
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