Wheat Falls in Chicago as Price Gains Curb Demand in Feed; Corn Unchanged

(Bloomberg) -- Wheat futures in Chicago fell for a
second day as the premium above the corn price reached the
widest ever, prompting speculation fewer livestock producers
will use wheat in feed. Corn and soybeans were little changed.

Wheat's most-active contract is almost $2.60 per bushel
more expensive than corn on the Chicago Board of Trade, about
double the average difference of $1.30 for the past year. Wheat
is used for food, such as bread and noodles, and competes with
corn and soybean meal for livestock feed.


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Corn Has Biggest Weekly Drop Since 1997 on Midwest Rains; Soybeans Fall

(Bloomberg) -- Corn fell to a two-week low in
Chicago, capping the biggest weekly loss in almost 10 years, and
soybeans dropped as Midwest rains rejuvenate U.S. crops stressed
by dry weather.

As much as 2 inches (5 centimeters) of rain has fallen in
parts of the Midwest since yesterday, according to T-Storm
Weather. Fields from Minnesota to Ohio may receive triple the
normal rainfall during the next five days, the forecaster said.
Some areas east of the Mississippi River have gotten less than
half the normal rain in the past two months.


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Corn Falls After Report Says U.S. Planting Accelerated; Soybeans Decline

(Bloomberg) -- Corn in Chicago fell the most in a
week after a government report showed that planting of the U.S.
crop had accelerated after a slow start and that plants were in
better shape than last year. Soybeans also declined.

About 78 percent of the U.S. corn was in good or excellent
condition as of May 20, compared with 66 percent a year ago at
this time, the U.S. Department of Agriculture said yesterday in
its first rating of this year's crop. Some 92 percent of the corn
was planted, and about 67 percent of the plants had emerged from
the soil, both better than five-year averages.


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