GRAIN HIGHLIGHTS: Top Stories of the Day

Published September 20, 2017
Dow Jones Newswires

TOP STORIES:

Grain, Soybean Futures Rise on Bumper Oilseed Sale

Grain and soybean futures rose Wednesday on robust export demand and support from other commodity markets.

The U.S. Department of Agriculture said on Wednesday morning that private exporters reported a sale of 1.08 million metric tons of soybeans to unknown destinations, with 960,000 tons for delivery in 2017-18 and the remainder in 2018-19. Exporters sold a further 132,000 tons of oilseed to China, the agency said.

Soybean futures for November delivery rose 0.5%, to $9.70 a bushel, at the Chicago Board of Trade.

Falling Yogurt Sales Drag General Mills' Earnings--2nd Update

Yoplait yogurt is spoiling General Mills Inc.'s sales.

The company said its U.S. yogurt sales fell 22%, pushing it to its ninth straight quarter of revenue declines.

In the latest quarter, which ended in August, General Mills' global sales fell 3.5% to $3.77 billion. On a comparable basis, revenue was down 4%, worse than its projected 1% to 2% decline for the fiscal year, which ends in May.

STORIES OF INTEREST:

Pressure-treated Broccoli Is Healthier -- Market Talk

11:01 ET - On dinner plates across the US--where the average person eats about 7.4 pounds of broccoli every year--the stubby florets are a token of healthful eating, but researchers say that producers could significantly boost the vegetable's anti-cancer properties if they'd pressure treat the raw sprouts first. No country produces more broccoli than the US, with an annual crop of about 2 billion pounds worth about $750M. The conventional heat treatment used by growers to kill bacteria on produce, though, drains broccoli of its healthful glucosinolates, a group of phytochemicals that may play a role in preventing multiple types of cancer. Reporting in the Journal of Agricultural and Food Chemistry, researchers say that high-pressure processing instead increases the plants' health-promoting compounds. (lee.hotz@wsj.com; @leHotz)

THE MARKETS:

Cattle Futures Hit Six-Week High

Cattle futures touched their upper daily limit on Wednesday, hitting a six-week high as cash-market prices rose.

Meatpackers bought 636 head of cattle at the weekly online Fed Cattle Exchange on Wednesday morning for an average of $106.67 per 100 pounds, up from $104.75 last week. That was also higher than last week's total cash trade average of $105.84, according to the U.S. Department of Agriculture.

(END) Dow Jones Newswires

September 20, 2017 17:37 ET (21:37 GMT)