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News From 23-Jun-2009

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Soybean Planting In S.D. Nearly Complete (Yankton Press & Dakotan)     (Cached page)
SIOUX FALLS (AP) — The state’s corn crop needs some sun and hot weather to catch up to the average height for late June.

Palm Oil Surges as Soybeans Gain; JPMorgan Raises Price Target (Bloomberg)     (Cached page)
June 23 (Bloomberg) -- Palm oil futures posted their best gain in seven weeks as soybean prices climbed and investors deemed four days of declines as excessive. JPMorgan & Co. also raised its palm oil price forecast by 17 percent.

Palm Oil Gains as Much as 2.6 Percent, Tracking Soybeans Higher (Bloomberg)     (Cached page)
June 23 (Bloomberg) -- Palm oil futures gained, paring their biggest drop in more than five months yesterday, as soybeans rose. Soybean oil is a substitute for palm oil.

Ont. farmers plant record area of soybean crops this year, says survey (Kitchener - Waterloo Record)     (Cached page)
TORONTO - Ontario farmers have planted a record area of soybean crops this year, based on a survey of about 5,000 farmers this spring.

Ag Summary: Corn Develops At Slower-Than-Normal Pace, Soybean Planting Ahead Of Last Year (CattleNetwork.com)     (Cached page)
Highlights: Wet weather prevailed across much of the Midwest and eastward into the Atlantic Coast States, with precipitation totals significantly above normal in many locations.

Interpolating Those Soybean Numbers (DTN / The Progressive Farmer)     (Cached page)
OK, so USDA says 91 percent of the U.S. intended acres of soybeans were planted as of June 21, implying about 6.8 million acres left to seed. Will that really happen?




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