Michael Pitts

Corn Drops Most in a Month as Drier U.S. Weather Aids Planting

Corn slumped by the most in almost a month on forecasts that parts of the U.S. will turn drier after excessive rains, helping farmers in the world’s largest producer accelerate planting and rebuild global inventories.

Wheat Climbs as China Purchases 16 U.S. Cargoes After Price Drop

Wheat futures advanced for a second day as China bought as many as 16 cargoes of U.S. wheat after prices plunged as much as 30 percent from a four-year high in July. Corn and soybeans rose.

Crop Prices Rebound as Declines May Attract Consumers, Investors

Corn rallied after plunging the most in 24 years yesterday, while wheat and soybeans advanced on speculation the slump in the past two days may attract investors, feed millers and biofuel producers.

Wheat Gains for First Time in Three Days as Drought Slows Russian Planting

Wheat rose for the first time in three days in Chicago as grain planting in Russia, the world’s third-largest producer last season, lagged behind last year’s pace and recent declines lured buyers.

Corn Heads for Best Year Since 2006 on Global Production Deficit Concerns

Corn headed for the biggest annual gain in four years in Chicago as rising demand in China and drought in Argentina, the second-largest exporter, threatened to cause a global supply deficit.

Crop Prices Fall as Corn Snaps Six-Day Advance on U.S. Plantings

Corn declined for the first time in seven days as U.S. farmers prepare to plant the most acres since the 1930s. Soybeans and wheat also fell.

Wheat Rebounds From Seven-Month Low as U.S. Exports May Increase

Wheat rose for a second day in Chicago on speculation demand will rebound for U.S. supplies after prices reached a seven-month low yesterday. Corn gained after nine sessions of declines.

Russia Lifting Grain-Export Ban May Fail to Alleviate Global Crop Shortage

Russia, once the second-biggest wheat exporter, will let a grain-shipment ban expire on July 1, a move that may fail to ease a global shortage caused by drought and flood damage to European and U.S. crops.

Corn on Course for First Weekly Decline in Four Weeks on Rainfall in China

Corn headed for the first weekly drop in four weeks in Chicago on speculation that rainfall in China will support yields, potentially reducing imports by the world’s second-largest consumer of the grain.

Wheat Declines to Two-Month Low as Slowing Global Economy May Curb Demand

Wheat slumped to the lowest price in more than two months in Chicago, and corn and soybeans also declined, on increasing concern that slowing global economic growth will weigh on demand.

"The real strength is in the old crop and concerns around old-crop tightness."

- Michael Pitts on May 19, 2013

Chicago

Singapore

China

Russia

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