GRAIN HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES:

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Soybeans Drop Lower; Wheat and Corn Bounce

Corn markets reversed course to end higher Monday after it running out of sellers who pummeled corn prices following bearish data last week from the USDA.

CBOT corn for September delivery rose 0.6% to end at $3.62 a bushel on the ICE Futures U.S. exchange. September wheat was up 0.4% at $4.41 a bushel and August soybeans fell 1.1% to $9.25 a bushel.

STORIES OF INTEREST:

Few Viable Options for US in Venezuela -- Market Talk

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13:00 ET - Speaking in Colombia this morning, US Vice President Pence continues to walk back a threat by Trump to send in the US military on Venezuela's socialist government. Pence tells MSNBC the US is instead committed to finding solutions "economically and diplomatically." This, after other Latin American nations and even Venezuela's US-friendly opposition rejected the idea of US military intervention. Meantime, the White House also rejected a request by Venezuela President Maduro for a face-to-face with Trump, saying Maduro needs to restore democracy first. And the US suggestion it may implement an oil embargo on Venezuela has also been roundly criticized, since it could starve the nation's poor. (dan.molinski@wsj.com)

In the Land of Milk and Money, Dairy Boom Feeds Environmental Fears

CHRISTCHURCH, New Zealand--This South Pacific country markets itself to international tourists as "100% pure," but a rapid expansion of its dairy industry is endangering its clean, green image.

The shift threatens to pit the nation's No. 2 export, tourism, against dairy, its No. 1.

"Agriculture is the major cause of issues we have with fresh water," said John Quinn, chief freshwater scientist at the country's National Institute of Water and Atmospheric Research. "Dairying is part of that."

THE MARKETS:

Cattle Futures Fall On Prospect of Swelling Supplies; Lean Hogs Slump

Live cattle futures fell Monday as traders anticipated swelling future supplies of beef.

CME live cattle for August fell 0.8% to end at $1.10 a pound, the sixth down day in seven sessions for the most active contract.

"Somehow the market forgot that we had eight months of very heavy placements and instead had been looking at short term issues like the spring rally in cattle," said Rich Nelson, chief strategist at brokerage Allendale Inc.

(END) Dow Jones Newswires

August 14, 2017 17:40 ET (21:40 GMT)