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News From 02-Jul-2009

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Soybeans Surge, Corn Gains as Price Drop Spurs Consumer Buying (Bloomberg)     (Cached page)
July 1 (Bloomberg) -- Soybeans rose the most in almost four weeks and corn gained on speculation that recent declines, driven by favorable crop weather in the U.S. Midwest, went too far and will boost demand for supplies from the region.

Large corn crop eases price fears (Montgomery Advertiser)     (Cached page)
ST. LOUIS -- Farmers planted an unexpectedly large crop of corn and soybeans this year, easing some fears of rising food costs.

Corn Belt holds annual meeting (Bureau County Republican)     (Cached page)
BLOOMINGTON — Charles Meisenheimer of Walnut was elected vice chairman of Corn Belt Energy Corporation’s directors at the company’s 71st annual Meeting of Members, which was held at the Interstate Center in Bloomington on June 11. He was also re-elected for a three-year term to the board for a three-year term.

Corn: Ripe For The Picking (Forbes)     (Cached page)
Higher planted acres are weighing on corn prices, which could mean lower input costs for some industries.

Soybean Prices Slide on Signs of Declining Demand; Corn Drops (Bloomberg)     (Cached page)
July 2 (Bloomberg) -- Soybeans fell for the fifth time in six sessions on speculation that demand from oilseed processors is dropping. Corn futures also declined, marking the biggest weekly drop in seven months.

Soybeans Futures Fall on Signs of Declining Demand; Corn Drops (Bloomberg)     (Cached page)
July 2 (Bloomberg) -- Soybeans fell for the fifth time in six sessions on speculation that demand from oilseed processors is dropping. Corn futures also declined, heading for the biggest weekly drop in seven months.

CBOT Corn Review: Ends Lower On Crude, Weather, Positioning (INO News)     (Cached page)
CHICAGO (Dow Jones)--Chicago Board of Trade corn futures closed lower Thursday as a drop in crude-oil prices and favorable crop weather forecasts hung heavily on the market.

MARKET TALK: US Wheat Remains Weaker With Corn, Soy (INO News)     (Cached page)
1331 EDT [Dow Jones] - U.S. wheat futures are modestly lower on spillover pressure ahead of the long weekend. Losses in CBOT corn and soy and strength in the U.S. dollar are weighing on wheat, with traders reluctant to chase the markets higher ahead of the Independence Day holiday, a trader says.

Schwieterman: Bearish Corn Acreage Numbers, Weak Cash Cattle Basis (CattleNetwork.com)     (Cached page)
Unfortunately there was not very much positive news this week. Overall, Tuesday’s Planted Acreage report was bearish. Wheat and corn acres were both much higher than expected, which sent the corn limit lower on Tuesday.

MARKET TALK: CBOT Corn Slides On Weak Crude, Weather (INO News)     (Cached page)
1240 EDT [Dow Jones] - CBOT corn futures continue to slip on crude oil's weakness, favorable crop weather forecasts and positioning.

Outlook Positive For Corn Crop (News Channel 12 New Bern)     (Cached page)
Farmers say the sign of a good corn crop is "Knee high by the 4th of July". If that's the case, we're in for some good yields this season. Ag experts say we're in much better shape than last year and if we continue to get some good rains, the corn yields could be double what they were in 2008.

CBOT Corn Outlook: Down 4-6c On High Acreage, Liquidation (INO News)     (Cached page)
CHICAGO (Dow Jones)--Chicago Board of Trade corn futures are expected to open lower Thursday as traders are likely to exit positions before the Independence Day weekend after a tumultuous week following the surprising acreage report.

What’s the weather doing to the corn? (Houston County News)     (Cached page)
The waves of heat that took temperatures well above 80 degrees last week brought a sigh of relief to area corn farmers whose crops were given a much needed kick in the stalks.




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