GRAIN HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES:

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Wheat Falls as Rain Improves Outlooks; Corn and Soybeans Steady

Wheat prices fell Monday as wet weather returned to U.S. growing regions, alleviating fears for now about the state of U.S. crops.

CBOT Wheat for July fell 1.2% to $4.50 a bushel, the fourth straight session of losses.

Nestle Unmoved by Third Point Demands

Newly minted Nestle SA Chief Executive Mark Schneider is facing the first big challenge of his short career in packaged foods.

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Mr. Schneider indicated Monday he plans to hold steady on his own push to spur growth at the maker of Stouffer's frozen food and Nesquik chocolate milk, in the face of calls for radical change by activist investor Daniel Loeb.

STORIES OF INTEREST:

Mexico's Gruma Plans to Buy Out, Delist Local Unit -- Market Talk

15:46 ET - Mexican tortilla and cornflour maker Gruma is offering 25 pesos ($1.40) a share to buy the 14.5% of local unit Grupo Industrial Maseca (MASECA.MX) it doesn't own, with plans to delist the unit from the Mexican stock exchange. Maseca accounted for 26% of Gruma's sales in 2016. The offer values the stake at around MXN3.3B. Maseca shares were recently up 9.6% at MXN24.50. Gruma also has operations in the US, Central America, Europe and Asia. (anthony.harrup@wsj.com)

Food Gluts Ease US Barbecue Expenses -- Market Talk

17:05 ET - Growing supplies of meat, dairy and other agricultural commodities will translate to cheaper July 4 barbecues for US revelers, according to the American Farm Bureau Federation. The overall cost to feed 10 people an assortment of burgers, ribs, hot dogs and potato salad with various fixings is set to decline 1% from last year's total, the Farm Bureau's annual survey shows, driven lower by cheaper pork, beef and cheese--though ketchup and corn chips went up in price versus last year. The total cost to throw a BBQ under the parameters laid forth by the Farm Bureau comes to $55.70 this year, versus $56.06 last year. (jacob.bunge@wsj.com; @jacobbunge)

THE MARKETS:

Cattle Futures End Higher on Strong Packer Demand; Hogs End Higher

Live cattle futures reversed course to end higher Monday, with traders pointing to higher-than-expected demand from packers trying to take advantage of strong margins.

CME live cattle for June was up 1.9% to end at $1.21475 a pound and August futures were up 2.6% to end at $1.18275 a pound.

(END) Dow Jones Newswires

June 26, 2017 18:31 ET (22:31 GMT)