*Corn, wheat futures advance into positive territory. CHICAGO, Aug 24- U.S. soybean futures dropped to their lowest levels in over six years on Monday and soyoil touched a nine-year low as concerns about China's faltering economy fueled selloffs in commodities and equities markets. Soybeans have dropped in six out of the last seven sessions on worries that signs...» Read More
*Corn falls for third day on fast planting pace. "I've heard some talk that China has an increased appetite for oil, said Bill Gentry, broker at Risk Management Associates." Corn was anchored by expectations that a U.S. Department of Agriculture report on Monday afternoon will show that farmers seeded huge chunks of their acreage in the past week.
Soybeans also gained at the Chicago Board of Trade, buoyed by a strike of boat captains at the main grains port in Argentina, the top exporter of soymeal and soyoil. Exporters in Russia, Ukraine and Europe have stolen away market share from shippers in the United States in recent years while a U.S. outbreak of bird flu affecting millions of turkeys and chickens also...
Ben Lichtenstein, President and Founder of Tradersaudio.com, attributes oil's plunge to oversupply and rising efficiency in refineries, instead of slowing economic growth.
Chinese importers' defaults on soybean cargos may spur debt concerns, but such defaults aren't unusual and China's soybean business has been struggling.
Stan Ryan, Vice President at Cargill Corporate says that with markets more open now, there is less chances for a repeat of the 2008 food crisis. He explains more.
As the world’s largest importer of American agricultural products, China stands to get walloped by the drought that is ravaging US croplands. Globalpost reports.
Tom Essaye, Editor, Money and Markets says things are improving in corn & soybean markets due to hot weather concerns.
Oil prices have fallen sharply in the wake of the disaster in Japan as investors have shunned risk. Nymex has declined around 5 percent since last Friday's earthquake and tsunami. However, Jim Rogers, Chairman of Rogers Holdings, who has been a long-term bull on oil, thinks it's only a matter of time before the current trend reverses.
Legendary investor Jim Rogers says the bull market in commodities is "still in place" and has a "long way to go."