Corn, Soybeans May Extend Gains in Chicago as Dry Weather Hurts U.S. Crops

(Bloomberg) -- Corn and soybeans may rally in
Chicago on speculation dry weather in Midwest states including
Iowa and Illinois will limit production gains in the U.S., the
world's largest grower of both crops.

Nineteen of 23 traders, farm advisers and merchants
surveyed Aug. 3 recommended buying corn, and 17 said to buy
soybeans. Corn futures jumped 6.5 cents, or 1.9 percent, to $3.43
a bushel last week on the Chicago Board of Trade, and soybeans
rose 20.5 cents, or 2.4 percent, to $8.61 a bushel.


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Corn, Soybeans May Rise as Condition of U.S. Crops Decline; Wheat May Fall

(Bloomberg) -- Corn and soybeans may rise in Chicago
after a government report said warm, dry weather caused U.S.
crops to deteriorate for the fourth straight week. Wheat may fall
as harvesting speeds up, increasing supplies.

An estimated 58 percent of the corn crop was in good or
excellent condition as of July 29, down from 62 percent a week
earlier, the U.S. Department of Agriculture said yesterday. About
58 percent of soybeans got the top ratings as of July 29, down
from 61 percent a week earlier.


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Corn, Soybeans Fall as Cool, Wet Weather May Aid Growth of Midwest Crops

(Bloomberg) -- Corn futures in Chicago headed for
the biggest weekly drop in 10 years and soybeans fell on
speculation rains and cooler weather will promote development of
the two biggest U.S. crops.

Midday forecasts from the National Weather Service showed
no threat of a heat wave and more rains likely in the Midwest, a
shift from earlier outlooks for warmer, drier weather, said Mike
Tannura, a meteorologist for T-Storm Weather in Champaign,
Illinois. Some fields received as much as four times the normal
rain this week, easing crop stress.


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Corn, Soybeans Fall as Rains May Boost Prospects for Crops in U.S. Midwest

(Bloomberg) -- Corn and soybean prices in Chicago
declined for the third day this week after rains fell from
Nebraska to Ohio, easing the threat of damage to U.S. crops
after a two-month dry spell.

The biggest storm of the summer dropped as much as 3
inches of rain (8 centimeters) overnight in some locations,
improving corn and soybean crops before drier conditions and
above-normal temperatures develop next week, said Mike Tannura,
a meteorologist for T-Storm Weather in Champaign, Illinois.


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Corn, Soybeans Fall in Chicago on Normal Rainfall Forecast in U.S. Midwest

(Bloomberg) -- Corn futures in Chicago declined
from a two-week high and soybean prices fell from a three-year
peak on a forecast for normal rainfall in the U.S. Midwest and
as investors assessed that recent gains were overdone.

The six to 10-day outlook from the National Weather Service
showed normal precipitation in the U.S. Midwest, including Iowa,
Illinois, Indiana and Ohio, according to yesterday's forecast.
Normal precipitation would help the U.S. corn crop to pollinate.


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Monsanto quarterly profit jumps 71 percent

(Reuters) - Net income rose to $570 million, or $1.03 a share, in its fiscal third quarter ended May 31, from $334 million, or 60 cents a share, a year earlier. Analysts on average were looking for $1 a share, according to Reuters Knowledge.




St. Louis-based Monsanto said strong demand for its branded corn seed products in the United States, as well as in Italy, France and Germany, contributed to the sharp profit increase. Corn prices have rallied on strong demand from the ethanol, food and livestock feed sectors.


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Corn Futures Fall to Six-Week Low as Rains Improve Prospects for U.S. Crop

(Bloomberg) -- Corn fell to a six-week low in
Chicago on speculation that rains will revive Midwest crops
threatened by hot, dry weather earlier this month.

As much as twice the normal amount of rain may fall from
Kansas to Ohio in the next five days, increasing soil moisture in
fields that had been depleted by six weeks of heat and dryness,
said Mike Tannura, a meteorologist for T-Storm Weather in
Champaign, Illinois. Cool weather this weekend also will benefit
crops next month.


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Corn, Soybean Futures Rise as Dry Weather May Slow Growth of U.S. Crops

(Bloomberg) -- Corn and soybeans rose in Chicago
on forecasts that dry weather will move into Midwest growing
areas this weekend, stressing the two biggest U.S. crops.

Chances are 12 percent or less a weekend storm will bring
rain to parts of Iowa, the country's largest producer of corn
and soybeans, according to the National Weather Service.
Temperatures are expected to reach as high as 90 degrees
Fahrenheit (32 Celsius), stressing plants already suffering
from a lack of moisture. The normal high is about 84 degrees.


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Hog Futures Rise as Farmers May Trim Herds on High Corn Costs; Cattle Gain

(Bloomberg) -- Hog futures in Chicago rose on
speculation that higher corn costs may prompt farmers to trim
herds. Cattle prices also gained.

Corn, the main ingredient in livestock feed, has gained 7.6
percent so far this week and closed over $4 a bushel yesterday
for the first time since March 23. Farmers may liquidate hog
herds to avoid paying higher feed costs, said Brian Hoops, an
analyst with Midwest Market Solutions in Yankton, South Dakota.


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Corn, Soybeans Decline in Chicago on Crop Ratings; Wheat at 11-Year High

(Bloomberg) -- Corn and soybean futures in Chicago
fell after a government report showed U.S. crop ratings were
better than expected. Wheat rose to an 11-year high, extending
gains after the U.S. government cut its production estimate.

About 77 percent of the corn crop was rated good or
excellent on June 10, compared with 78 percent the previous week
and 70 percent a year earlier, the U.S. Department of
Agriculture said yesterday in a report. About 70 percent of the
soybean crop was rated good or excellent on June 10, compared
with 71 percent last week and 67 percent a year earlier.


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Corn Falls From Three-Week High as Rains to Bolster Crops in U.S. Midwest

(Bloomberg) -- Corn futures in Chicago fell
from a three-week high on expectations rains will relieve
dryness that threatened crops in the eastern Midwest.

As much as 1.5 inches (3.8 centimeters) of rain may
fall the next three days west of a line from St. Louis to
Chicago, with up to 1 inch to the east, covering at least
75 percent of the Midwest growing region, said John Dee,
president of Global Weather Monitoring in Mohawk, Michigan.
A second storm may bring as much as 1 inch of rain to most
of the area late next week.


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Not in My Break, Dude: British Surfers Oppose Offshore Wave Energy Project

(Bloomberg) -- Champion surfer Ben Skinner casts his
eye along Perran Beach, southwest England, and, between bites of
a bacon and egg roll, contemplates the loss of his beloved waves.

Skinner, 22, is worried about the ``Wave Hub,'' a 28 million
pound ($56 million) energy project that he says may spoil the
swells on the Cornwall coast where he's honed his skills.


Read more at Bloomberg Exclusive News

Corn, Soybeans May Rise in Chicago as Dry Weather Threatens U.S. Crops

(Bloomberg) -- Corn may rise for a third straight
week in Chicago and soybeans may reach a three-year high on
speculation that hot, dry weather from Illinois to Georgia will
damage the two biggest U.S. crops.

Thirteen of 25 traders, farm advisers and merchants
surveyed on May 25 recommended buying both commodities. The rest
said to sell, noting that some forecasters are calling for more
rain. Corn futures for July delivery rose 1.3 percent last week
to $3.76 a bushel on the Chicago Board of Trade. Soybeans for
July delivery rose 2.5 percent to $8.125 a bushel, the highest
weekly close since June 2004.


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