GRAIN HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES:

Continue Reading Below

Wheat Futures Sell Off as Traders Brace for Russian Supplies

Wheat futures fell to the lowest close this year, leading losses in a mixed session for grain and soybean futures.

September wheat futures at the Chicago Board of Trade fell 1.8% to $4.02 1/4 a bushel, the lowest close since late December. Prices have fallen over 25% since peaking in early July.

STORIES OF INTEREST:

Bayer, Monsanto's $57 Billion Megadeal Faces Closer EU Scrutiny -- Update

Continue Reading Below

BRUSSELS-- Bayer AG's $57 billion acquisition of Monsanto Co. will undergo an in-depth investigation by the European Union on concerns that the creation of an agrochemicals powerhouse could hurt farmers, throwing into doubt the companies' plans to complete the tie-up by the end of the year.

The European Commission, which has antitrust powers in the EU, on Tuesday said it aimed to complete its review by Jan. 8, 2018, but that date could be pushed back if there are delays or extensions. Regulators rarely complete their analyses well in advance of set deadlines.

THE MARKETS:

Frozen Pork Belly Stocks Fall in July

Ravenous U.S. appetite for bacon continues to squeeze pork belly stocks.

The U.S. Department of Agriculture said stocks of frozen pork bellies in commercial freezers as of July 31 fell to 17.55 million pounds, a record-low for the month. That was down 21% from June and 65% from a year earlier.

(END) Dow Jones Newswires

August 22, 2017 17:15 ET (21:15 GMT)