CHICAGO, July 25- U.S. soybean futures fell sharply on Monday, extending the steep declines seen last week on pressure from investment fund selling and favorable extended weather outlooks for the developing crop, traders and analysts said. Wheat and corn futures each were narrowly lower at the Chicago Board of Trade, with wheat reversing from earlier gains that... » Read More
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.
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 rising U.S. dollar is exerting major pressure on commodity prices and in turn could be setting up a prime buying opportunity in grains, energy and—yes—even gold.
Syngenta, the world's largest agrochemicals company, is aiming for higher earnings this year as price hikes and cost-cuts are expected to help it offset the impact of the strong Swiss franc and raw material prices.
Food prices and security, threatened by weather-caused production declines and relentless rising demand, will be a key issue at the conference of world business, political and social leaders.
Signs look positive for the agricultural and fertilizer industries in 2012, and U.S. companies would likely benefit the most, investor Dennis Gartman said on “Fast Money.”
Dennis Gartman, The Gartman Letter, weighs in on legendary investor, Jim Roger's Ag commodities play, and the outlook for gold.
Gold prices will rally again in 2012 to reach $2,000 to $2,500 per ounce because demand is still strong and the precious metal is still seen as a safe haven, according to Sabine Schels, a commodities strategist at Bank of America Merrill Lynch.
Despite an unexpected deterioration in macro indicators in developed markets, Goldman Sachs believes commodity prices will hold up over the coming year.
When the Chinese came looking for more soybeans in Uruaçu, Brazil, last year, they inquired about buying land — lots of it. Now some in Brazil are beginning to see those purchases as a problem.