By Dow Jones Business News, October 02, 2013, 05:21:00 PM EDT
Asian Rice Harvests Begin; Prices at a More-Than-Three-Year Low
SINGAPORE--Asian rice prices have declined to their lowest in more than three years and are expected to fall further
as major exporters start reaping yet another bumper harvest and try to pull customers away from each other to get rid of
excess inventories. India, Thailand, Vietnam and Pakistan, the four countries that together control more than 70% of the
global rice trade will be harvesting their main rice crops through the fourth quarter and the first quarter of next
South Korea's Nofi Seeks 140,000 Tons of Corn for March Arrival
South Korea's largest animal feed manufacturer, Nonghyup Feed Inc., or Nofi, is seeking two cargoes of corn totaling
140,000 metric tons for arrival in March in a tender that closes later Wednesday, trading executives said. One cargo,
for arrival by March 5, can be sourced from the U.S., South America, the Black Sea region or South Africa and the other
for arrival by March 15 from the U.S. or South America.
STORIES OF INTEREST
Monsanto to Buy Climate Corp., Reports Wider Loss on Lower Seed Sales -- Update
Monsanto Co. (MON), the world's largest seed company by sales, agreed to buy farm-analytics firm Climate Corp. for
about $930 million, deepening its push into technology to help farmers increase productivity and manage risk. The
purchase of closely held Climate Corp. will enable Monsanto to sell farmers a wider range of tools, including weather
statistics and agronomic data, as the company seeks to expand its main business of selling genetically engineered crop
Wheat Gains 0.7% as Demand Remains Strong; Soybeans Rise
CHICAGO--Wheat futures rose 0.7%, the seventh increase in eight sessions, on speculation that Brazil will buy more of
the grain from the U.S. as crop conditions in Argentina decline. Soybeans also gained while corn was unchanged. Brazil
may purchase more wheat from the U.S., the world's biggest exporter, as dry weather in Argentina, which normally
supplies Brazil with most of its grain, threatens the crop after a freeze last month hurt prospects, analysts said.
Cattle Futures End Mostly Higher; Hogs Up on Short Covering
CHICAGO--Cattle futures ended the session slightly higher, as traders awaited demand signals from the cash market in
the absence of federal data on wholesale beef and national trends in negotiated trade. Futures remained firm on
expectations for steady cash trade this week. Many market participants are unwilling to push prices too far above or
below their recent trading range without daily price data from the U.S. Department of Agriculture.
Write to Tony C. Dreibus at email@example.com
(END) Dow Jones Newswires
Copyright (c) 2013 Dow Jones & Company, Inc.