U.S. winter-wheat seedings rose for a third straight year as high prices during the September- November planting season prompted farmers in the Great Plains to boost acreage. The increase was less than analysts expected.
Corn and wheat surged the most in at least three months after a government report showed drought and rising demand eroded stockpiles more than previously forecast in the U.S., the world’s biggest grain exporter.
CME Group Inc., the world’s largest futures exchange, extended grain-trading hours today in response to the threat of competitors seeking a share of the electronic transactions that now dominate the market.
Soybean futures rose for the third time in four sessions on speculation that global demand will outpace supplies as U.S. farmers make decisions about what crops to plant starting in April. Corn also gained.