Soybean futures rose for the first time in four days on speculation that U.S. growers won’t swing acreage away from corn after rain slowed grain sowing.
Keith Kisling normally has 1,500 head of cattle on his land near the Oklahoma-Kansas border. Last year’s U.S. drought changed all that. For the first time in four decades as a farmer and rancher, he has none.
Wheat futures fell to the lowest since June as rain boosted prospects for the U.S. winter crop set to emerge from dormancy. Corn prices tumbled the most in five months.
Cattle futures rose the most in a month on speculation that U.S. meatpackers will increase purchases amid shrinking supplies. Hogs declined.
Wheat dropped the most in a week on speculation that exports will fall short of government estimates in the U.S., the world’s biggest shipper.
Wheat fell for the fourth time in five sessions as rain from Arkansas to Ohio boosts prospects for soft, red winter crops that are now in dormancy.
Wheat rose the most in four weeks as export sales surged to the highest in almost two years in the U.S., the world’s biggest shipper. Corn and soybeans climbed.
Wheat futures fell to a one-week low on signs that rains in the U.S. Great Plains this month have improved prospects of winter crops emerging from dormancy.
Wheat surged the most in three months after a government report showed stockpiles were lower than expected in the U.S., the world’s biggest exporter, as demand climbed.
Wheat fell, capping the longest slump in 11 months, after Egypt, the world’s biggest importer of the grain, shunned U.S. inventories and bought supplies from Russia.
"Oklahoma and Kansas wheat have shown some improvement. As we get into the dormancy-breaking stage."
- Brian Hoops on Mar 10, 2013