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Soybean Futures Fall on Brazilian Rain
Soybean futures started the week lower, giving back most of last week's gains as fieldwork conditions improved in Brazil.
Wetter weather eased concerns about planting delays in the major South American producer, sparking bets that Brazilian farmers were on track for another year of large oilseed production. Slow planting progress, a result of dry soil conditions, had helped soybean prices higher last week.
US Harvest Pace Lags Recent Years -- Market Talk
16:26 ET - US farmers have harvested less of the country's corn and soybean crop than is usual at this time of year. The USDA said that farmers collected 11% of the corn as of Sunday, along with 10% of the soybeans, both behind the five-year average. Analysts expect swifter progress over the next week due to warmer and drier conditions in the Midwest, however. Almost a quarter of the winter wheat crop is planted, also lagging recent years. The share of soybeans in good-or-excellent condition rose to by one percentage point to 60% while corn was steady at 61%. (firstname.lastname@example.org; @b_parkyn)
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STORIES OF INTEREST:
Corn Goes from Farm Fields to Battlefields -- Market Talk
14:28 ET - The corn industry's ongoing quest to refine the most widely grown US crop into more industrial and consumer products has led farmers to the gun business. The National Corn Growers Association says it's investing with Missouri-based gun oil supplier QMaxx Products Group to develop corn-based gun oil for cleaning, lubricating and protecting firearms, which QMaxx expects to eventually submit for US Army analysis. The NCGA acknowledges any corn-based gun oil market will likely translate to just a "modest" increase in additional corn demand, but says there are other potential applications of the same base product. Corn's previously been processed to make foam packaging, carpet fibers and kitty litter. (email@example.com; @jacobbunge)
Jordanian State Grain Body Tenders for 100,000 Tons of Wheat
LONDON--The Jordanian state grain agency has issued another international tender to buy 100,000 tons of milling wheat, local traders said Monday.
The new tender will be for wheat of optional origin.
The wheat tender closes Sept. 27 and comes after Jordan failed to purchase any wheat in an identical tender on Wednesday.
Cattle Futures Fall on Higher Supply Outlook
Cattle futures tumbled Monday on expectations of higher supplies early next year.
The U.S. Department of Agriculture said on Friday that feeders placed 3% more cattle in lots for fattening in August than a year earlier, while analysts had expected the rate of placements to fall by 3%.
(END) Dow Jones Newswires
September 25, 2017 17:22 ET (21:22 GMT)