GRAIN HIGHLIGHTS: Top Stories Of The Day

28th Jun 2010 21:49

TOP STORIES: SURVEY: US Corn Acreage, Quarterly Stocks Seen Climbing CHICAGO (Dow Jones)--A strong early start to the growing season is likely to lead to increased corn acreage in the government's June plantings report, according to analysts, who also see quarterly stocks up 8.3% from the same period a year ago. SURVEY: USDA Expected To Trim US Spring Wheat Acres CHICAGO (Dow Jones)--U.S. farmers are thought to have planted fewer acres of wheat than previously expected due to heavy rains that hit the northern Plains, according to a survey of analysts ahead of a key government crop report. UPDATE: China, India Grain Import Seen Rising On Water Shortage SINGAPORE (Dow Jones)--China and India, the world's two most populous countries, may have to import more than 200 million metric tons of food grains a year by 2030 because of glacial melting and rapid depletion of water resources, a senior analyst said Monday. STORIES OF INTEREST: Wheat Harvest Pleases Kansas Farmers, But Overall Protein Dips CHICAGO (Dow Jones)--Kansas farmers are pleased with initial results of the 2010 wheat harvest, although the average protein level for U.S. hard red winter wheat is down from last year, industry groups said. US Gulf 'Dead Zone' To Expand This Year; BP Spill Effect Unclear CHICAGO -(Dow Jones)- The U.S. Gulf of Mexico's "dead zone" is expected to be larger than average this year, although scientists said it is unclear what effect the BP (BP, BP.LN) oil spill will have. THE MARKETS: CBOT Corn Review: Makes 8-Month Low On Favorable Weather CHICAGO (Dow Jones)--U.S. corn futures fell for the sixth-straight day Monday, ending at their lowest price since October as favorable weather forecasts fuel talk of a record crop. CBOT Soy Review: Mixed, New Contracts Rise On Crop Concerns CHICAGO (Dow Jones)--Soybean futures ended mixed Monday, with the unwinding of bull spreads and concerns about falling crop ratings propelling new-crop contracts. US Wheat Review: Reaches Two-Week Lows As Harvest Advances CHICAGO (Dow Jones)--The advancing winter0-wheat harvest and technical selling pushed U.S. wheat futures to two-week lows Monday. ICE Canada Review: Weather Uncertainty Aids Canola WINNIPEG (Dow Jones)--Canola contracts on the ICE Futures Canada platform finished steady to mostly higher after trading a good portion of the day at lower levels. US Cash Grain Review: Largely Lower Prices, Gulf Storm Looms U.S. cash grain prices were largely lower Monday, owing to generally weak futures, and no more than mixed basis levels. -By Ian Berry, Dow Jones Newswires; 312-341-5778; [email protected] (END) Dow Jones Newswires June 28, 2010 16:49 ET (20:49 GMT)