*USDA pegs soybean harvest above analyst forecasts. *Market eyes next USDA report later in the week. Corn was unchanged, despite the USDA reporting harvest progress ahead of market forecasts, while wheat fell as plantings were seen above analyst expectations.» Read More
In Illinois, we’ve experienced the sixth-driest growing season on record. Of 102 counties, 100 are disaster areas, the state's governor addresses the issue of what's been done and what still needs to happen to help his state.
The Senator from Kansas writes, "We need to approve this drought assistance to ensure livestock producers can continue providing us with the most affordable and safe food supply in the world."
Food inflation will start hurting Asian economies by the end of the year if the current high prices are sustained over the next few months, with Vietnam, China and Hong Kong the most vulnerable, economists tell CNBC.
As the U.S. drought continues and global grain prices soar, G20 leaders are considering an emergency meeting at the end of August to consider what measures to take to combat the growing food crisis. But the surge in corn, soy and wheat prices could also lead to some benefits for the agricultural sector and an opportunity for investors, according to one fund manager.
The recent dry weather affecting crops across the midwest of America will hit the reinsurance industry with perhaps the biggest loss ever, according to Nikolaus von Bomhard, Chairman at Munich Re.
The spike in crop prices this year may be an early glimpse into a chronic food crisis that could unfold over the next forty years, says well-known money manager Jeremy Grantham.
For answers, Jim Cramer looks at the technicals.
Christopher Narayanan, Head of Agricultural Commodities Research, Societe Generale says that there's no need for an ethanol mandate waiver as there is still sufficient inventories.
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.
Record high prices of corn and soybean brought on by the worst U.S. drought in 56 years may be triggering a sense of de ja vu for Asia concerned about a repeat of the food scare in 2008, but most economists are downplaying those fears, for now.
A drought-fueled rally in soybeans, corn and wheat is raising fears of another round of food price inflation, posing an unwelcome complication for policymakers, particularly in emerging Asia, where higher consumer prices may hinder their ability to ease monetary policy.
With nearly two-thirds of the US enduring drought conditions, food prices are expected to jump ahead of the November election. That could add to voter anxieties about the economy, the Christian Science Monitor reports.
Both corn and soybean prices have slid from Monday’s record highs and should be considered a buying opportunity if this pull-back continues in the short term, Erin FitzPatrick, Commodity Analyst at Rabobank, told CNBC.
The USDA slashed projections of corn production by a larger than expected amount, now predicting an average yield of 146 bushels an acre. "My concern is we're underestimating the scope of the problem," says Gulke, who also advises farmers on risk management tools like futures with The Gulke Group.
CNBC's Rick Santelli discusses the play on the USDA's cut in yield projections for corn, soybeans, and wheat, with Frank Lesh, FuturePath Trading
CNBC's Jane Wells reports on the latest trades in corn and grain after a government report predicts significant cuts in yields.
A look at why commodity prices are skyrocketing as a result of this summer's drought, with Jason Roose, U.S. Commodities analyst.
Soft commodities such as soy and corn should be used by investors to protect against inflation in the same way as gold, according to the founding partner of GAIA Capital, John Coast Sullenger.
Tom Essaye, Editor, Money and Markets says things are improving in corn & soybean markets due to hot weather concerns.
A look at the latest market moves and how to trade them, with Jack Bouroudjian, Bull and Bear Partners CEO.