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Corn Futures Fall to 11-Month Low
Corn futures fell to the lowest point in almost a year as traders liquidated their positions ahead of the end of the month.
Analysts said buying interest waned as September-dated futures approached their first notice day for physical grain delivery, prompting farmers and traders to sell or close their positions.
Corn contracts for September delivery fell 1.2% to $3.29 1/2 a bushel at the Chicago Board of Trade on Wednesday, the lowest close since late September 2016. Prices have fallen over 10% since the USDA's production forecast earlier this month.
U.S. Farm Incomes Seen Rising, Reversing Mulityear Slump
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U.S. farm incomes will rise in 2017, halting three consecutive years of decline, as a slump in crop and animal prices eases.
The U.S. Department of Agriculture said net farm income will rise to $63.4 billion, up 3% from a year earlier but still just about half of 2013's record $124 billion.
Louis Dreyfus Appoints New Grains Chief
Louis Dreyfus Company on Wednesday said Adrian Isman has been appointed as senior head of grains and value chain platform, replacing David Ohayon.
The agricultural-goods-trading company confirmed Mr. Isman will combine the role with his current position as head of North America following the resignation of Mr. Ohayon on Tuesday.
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Buffett Shoots Down Potential Kraft-Heinz Deals -- Market Talk
11:27 ET - Warren Buffett on CNBC says that Kraft Heinz (KHC) would not buy Mondelez (MDLZ). MDLZ shares have turned negative and are now down 2.2%. He also says KHC won't go after Unilever (UN), reiterating that he is not interested in hostile deals. KHC approached UN earlier this year but was rebuffed. Berkshire is a major owner of KHC along with Brazilian private equity firm 3G. (email@example.com, @NicoleFriedman)
Restaurant Chains, Food Companies Step Up Harvey Assistance -- 2nd Update
Food companies stepped up assistance to people affected by Tropical Storm Harvey on Wednesday, feeding emergency workers and donating meals to shelters while also working to reopen restaurants and grocery stores.
Some 130 McDonald's Corp. restaurants around Houston closed as Harvey dumped record rain on the city this week. Those that had reopened by Wednesday were donating bottled water to the Red Cross and providing free meals to police and other emergency workers, the burger giant said.
Cattle Futures Steady; Auction Volume Picks Up
Cattle futures undid early losses to close largely unchanged, supported by technical factors and steady beef prices.
Wholesale beef has inched higher this week, pausing several weeks of losses. That has traders betting the broader cattle-and-beef market could stabilize in the weeks to come. A pound of beef rose to $1.9177 a pound on Tuesday, and was higher as of midday Wednesday.
(END) Dow Jones Newswires
August 30, 2017 17:07 ET (21:07 GMT)