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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Soybean futures gain amid dry weather in South America

Mar 28, 2012 02:18 PM

The price of soybean futures gained value on Wednesday as a U.S. government report projected sowing for the upcoming season will minimally change, according to Bloomberg.

Also driving up the price of soybean futures is a drought minimizing the South American harvest, which cuts down on prospects for the worldwide supply. Rabobank International forecasts U.S. growers of soybeans will plant 75.2 acres, which is a very slight change from the past year.

"We expect that lower South American production, limited U.S. acreage gain and increased imports by China will bring the 2012-13 U.S. soybean balance into a deficit and support soybean prices over corn prices over the next 12 months," states a Wednesday report authored by Goldman Sachs Group.

At 2:14 p.m. on Wednesday, soybean futures slipped 0.05 percent, a 0.75 cent slide to $13.69 per bushel.

The Des Moines Register reports the grain has performed quite strongly this year, having risen 22 percent since the beginning of the year. Chinese demand for the grain remains high while Brazil's crop is contracting because of dry and hot weather conditions.

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