Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact

Symbol Name
Click for Symbol Help

Larger U.S. corn sowings menaced by drought, USDA says

Reuters - Jun 29, 2012

U.S. farmers planted slightly more corn and far more soybeans than they originally planned, the government said on Friday in a report that failed to ease concerns over a Midwest drought that has jeopardized a bumper harvest.

According to the Agriculture Department's annual planting report, it has been 75 years since growers seeded so many acres with corn. They also planted the third-largest amount of soybeans on record. The plantings were slightly larger than analysts had expected, but new-crop Chicago corn prices extended gains toward its biggest weekly rally since 2008.

"Weather trumps the report," said Don Roose, analyst with U.S. Commodities in West Des Moines, Iowa. "We traded the report for probably 30 seconds and then we went back to trading the weather. These are past numbers."

Ordinarily, large plantings would be a virtual guarantee of a mammoth crop. Bumper supplies were hoped for this year to replenish near record-low inventories and end a years-long cycle of food-price inflation and supply concerns.

Read Full Article from Reuters

- Posted: 2012-06-29 13:19:25

 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008

Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2019 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise