Sunday, April 29, 2007

Corn May Rise as Pace of U.S. Planting Slows on Rains; Soybeans May Drop

(Bloomberg) -- Corn may rise in Chicago as rain further delays U.S. plantings that already are 50 percent behind the pace of the previous five years. Soybeans may fall as U.S. farmers sow more of the crop on freeze-damaged wheat fields.

Fifteen of 27 traders, farm advisers and merchants surveyed on April 27 said to buy corn after prices rose 0.5 percent to $3.7375 a bushel last week on the Chicago Board of Trade. Fourteen said to sell soybeans, which fell 0.2 percent to $7.385 a bushel, the fifth straight weekly drop.


Read more at Bloomberg Commodities News

No comments: