By Dow Jones Business News, September 23, 2013, 05:11:00 PM EDT
Corn Conditions Rise Slightly on Rainfall in the Midwest; Soybeans Unchanged
CHICAGO--Rainfall improved U.S. corn conditions in the past week as the wet weather helped crops that had been
suffering from dry weather since early August, while soybean ratings were unchanged, according to a weekly government
Soybeans Inspected for Export Increase; Corn, Wheat Inspections Decline
CHICAGO--Inspections of soybeans for overseas delivery jumped to 457,000 metric tons from 80,900 a week earlier,
according to the U.S. Department of Agriculture. Corn inspections declined 11% to 455,100 tons while the amount of wheat
inspected fell 8.9% to 1.152 million tons, the U.S. Department of Agriculture said in a report on Monday.
STORIES OF INTEREST
Archer Daniels Midland to Establish New Global Headquarters
CHICAGO--Archer Daniels Midland Co. said Monday it will move its global headquarters from Decatur, Ill., where the
agribusiness company has been based for more than four decades, as it needs to be located in a city that allows its
employees to travel more efficiently to meet with customers and colleagues around the world.
Soybeans Slip to Lowest Close in Five Weeks; Corn, Wheat Advance
CHICAGO--Soybean futures Monday fell to the lowest closing price in more than five weeks as after as much as six times
the normal amount of precipitation fell in the past seven days in parts of Iowa and Illinois. That may stabilize yields
that had been declining because of dry weather from early August through mid-September, Rich Feltes, director of
research at brokerage RJ O'Brien in Chicago, said in a report Monday.
U.S. Cattle Futures Climb to Multimonth Highs on Tight Supply View
CHICAGO--U.S. cattle futures rose to settle at their highest levels in nearly five months on a bullish supply report,
which was released Friday afternoon. CME live-cattle futures for October delivery gained 0.65 cent, or 0.5%, at $1.266 a
pound, the highest closing price for the spot contract since April 30. Most-active December cattle added 0.75 cent, or
0.6% to $1.305 a pound, the highest close for that contract in a month.
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