Seventeen of Russia’s wheat-growing regions reported a state of emergency as a result of temperatures that flared over 100 degrees Fahrenheit. Reports say that 20 percent of the land sown with wheat has been destroyed, with as much as 50 percent ruined in eleven of the regions. On Thursday, wheat for September delivery rose 38… Read more.
Thailand’s main rice crop may decline by as much as 10 percent next season as erratic weather could hurt crops. Bloomberg News covered a report by the Thai Rice Mills association, which said the government had warned farmers to postpone their planting because the crop could be damaged by delayed rains followed by heavy flooding.… Read more.
U.S. wheat futures pulled back from solid gains that touched record highs and settled mixed. CBOT wheat for September delivery ended down at $4.77 3/4 a bushel. Weather was once again the primary issue, as heavy rain blanketed the Great Plains region and hit Oklahoma and Kansas with particular force. The wet weather can delay… Read more.
Wheat futures hit a one-month high, corn futures reached a five-week high and soybeans rose for third time, reported Bloomberg today. The primary factor affecting the price of the crops seemed to be unusually intense rainfall across the Midwest, which disrupted both planting and harvests “from Iowa through Texas.” The National Weather Service data show… Read more.
Wheat futures for July delivery perked up a bit today after slumping yesterday to a four-year low of $4.26 a bushel. The low prices yesterday were partially the result of the summer harvest beginning on the Great Plains, swelling stocks of grain and potentially leading to fears of excess supply. Today, however, the U.S. Department… Read more.