BUENOS AIRES, Dec 4- Argentina's state bank has moved to bolster the country's reserves by reducing credit to soy farmers holding onto an estimated 8 million tonnes of last year's beans as a hedge against one of the world's highest inflation rates. Argentina is the No. 3 exporter of beans and the top supplier soymeal feed used to fatten up cattle and other...» Read More
*Wheat extends winning streak to five days. Wheat futures rose for the fifth day in a row on bargain buying and improving export demand. Chicago Board of Trade soybeans for August delivery fell 9-3/ 4 cents to $12.22-3/ 4 a bushel.
*Wheat falls after four-day rally. Wheat futures fell in a profit-taking setback after four straight days of gains pushed prices their highest in more than two weeks. At 10:29 a.m. CDT, Chicago Board of Trade soybeans for August delivery were down 10-1/ 2 cents at $12.22 a bushel.
Chinese importers' defaults on soybean cargos may spur debt concerns, but such defaults aren't unusual and China's soybean business has been struggling.
Beef has never been more expensive, and rarely more controversial. From top-end T-bone to Big Mac, the future of the beef industry is at stake.
Greg Smith, Group CEO, Global Commodities Ltd says that speculators are still short commodities and that investors are not picking up on the protein theme yet.
A Chinese trade delegation signed agreements with U.S. grain companies on Wednesday to buy 8.62 million metric tons of soybeans from the United States and will ink more deals on Thursday for a record-setting purchase topping 12 million metric tons.