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Soybean Futures Lead Losses on Yields, Exports
Soybean futures fell on higher yield reports and a slower pace of export sales announcements.
November soybean contracts fell 0.8% to $9.63 1/2 a bushel at the Chicago Board of Trade.
Syngenta Moves to Settle Farmers' GMO Corn Cases -- Market Talk
13:15 ET - Swiss crop seed maker Syngenta says it struck a deal to settle hundreds of lawsuits filed by US farmers over the company's 2011 release of genetically engineered corn seeds. Chinese import authorities began rejecting that corn in 2013 because it wasn't yet approved there, which farmers allege closed off China's market to US corn and depressed grain prices. Syngenta, which had fought the charges, says the courts still need to approve the settlement and establish a fund for it, and the company's not yet disclosing the size of any payout to farmers. Plaintiffs' lawyers have no immediate comment. (firstname.lastname@example.org; @jacobbunge)
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South Africa Corn Exports Surge After Record Crop -- Market Talk
1644 GMT - South Africa returns to being a net corn exporter, after good rains boosted yields, enabling Africa's top producer of the grain to recover from the devastating effects of last year's drought, says the US Department of Agriculture Bureau in Pretoria. After importing some 2.2M tons of corn last year, the first imports in 8 years, South Africa may export some 2.5M tons of corn in 2016-17. Cumulative 4-month corn exports hit 1.2M tons in the crop year which started in May and the country could have up to 4.5M tons of corn stock available for export. Total production is expected to more than double on year and hit a record 17.1M tons.(email@example.com; @Nicholasbariyo)
Wheat Futures Find Technical Strength -- Market Talk
10:39 ET - Wheat futures bounce on technical support. Traders are spreading wheat against soybeans, says Doug Bergman of RCM Alternatives, which is helping grain prices higher even as oilseed falls. CBOT December wheat futures rise 1.2% to $4.59 1/2 a bushel. Prices have technical support at current levels, Bergman says, with resistance at $4.63. CBOT November soybean futures fall 0.7% to $9.64 1/4 a bushel. December corn contracts rise 0.2% to $3.54 1/2. (firstname.lastname@example.org; @b_parkyn)
Nestle Confident About EMENA Growth Prospects -- Market Talk
1208 GMT - Marco Settembri, head of Nestle's Europe, Middle East and North Africa zone, in response to an investor question about why the company doesn't sell its EMENA zone confectionery business says he's confident about its future growth prospects. He says the business has double-digit profitability and that "overall the confectionery category remains very attractive for the company." Nestle is looking for a buyer for its U.S. confectionery business, where it has for years been a distant number four player behind Mars, Mondelez and Hershey. (Saabira.Chaudhuri@wsj.com , @SaabiraC)
Weakness in Cattle Futures Continues, Hogs Mixed
Cattle futures extended losses as traders continued to take stock of increases in supply expected early next year.
Live cattle contracts for October fell 0.9% to $1.08275 a pound at the Chicago Mercantile Exchange on Tuesday. Front-month September feeder cattle futures rose 0.1% to $1.50575 a pound while later months fell.
(END) Dow Jones Newswires
September 26, 2017 17:41 ET (21:41 GMT)