Argentina's government applied a special law on Friday that forces wheat and flour producers to prioritize supplying the local market after shortages pushed up prices on food staples such as bread.
September Corn finished down 3/4 at 532 1/4, 7 off the high and 4 3/4 up from the low. December Corn closed unchanged at 502 3/4. This was 3 3/4 up from the low and 7 off the high.
European wheat futures rose on Thursday, with support from an upturn in export demand, but price movement was limited by a lack of direction from U.S. markets, which were closed for the Independence Day holiday.
Global food prices fell 1 percent in June due to improving supply prospects, the United Nations' food agency said on Thursday, raising forecasts for wheat and maize output in the new season.
Syngenta has announced that it will acquire MRI Seed Zambia Ltd and MRI Agro Ltd (“MRI”), a leading developer, producer and distributor of white corn seed in Zambia.
Chinese flour mills bought wheat from France in June, a rare purchase that highlights China’s concerns about its low-quality harvest amid recent declines in global prices.
Japan’s Ministry of Agriculture, Forestry and Fisheries on June 2 approved a plan to resume imports of soft white winter wheat from the U.S. Pacific Northwest.
A group of wheat-growing states has joined the U.S. Justice Department in investigating a proposed joint venture by Cargill, CHS and ConAgra, which would make the largest U.S. flour miller even larger.
USDA scientists and their partners have found a molecular tool that will help control wheat stem rust, a fungal disease threatening much of the world’s wheat supply.
Export turnover of agro-forestry and aquacultural products is expected to reach 13.5 billion USD in the first half of this year, down 1.7 per cent from the same period last year.
South Korean millers will decide this week whether to lift a ban on U.S. white wheat imports after the latest tests by authorities found no evidence of genetically engineered wheat in cargoes from the United States.
Planted area to corn, soybeans and spring wheat other than durum in 2013 was estimated up from a year ago while durum area was down sharply, the U.S. Department of Agriculture said in its June 28 annual Acreage report.
June 1 stocks of wheat were down 3%, corn down 12% and soybeans down 35% from June 1, 2012, the U.S. Department of Agriculture said in its June 28 quarterly Grain Stocks report.
Indonesian flour millers bought about 200,000 tonnes of Russian food wheat in recent deals, driven by competitive prices and tightening supplies in traditional exporter Australia.
Monsanto's fiscal third-quarter profit slipped 3% as the world's largest seed company saw weaker seed sales and higher input costs, though adjusted earnings climbed above expectations.
