Corn & Wheat Start Morning Higher, Soybeans Lag

Posted on August 16, 2012

Dec Corn and wheat kick-off the day higher while soybeans come out of the gate lower in very early trading (prices below). We will have to wait and see if yesterdays CNBC induced rally has legs. August usually marks a seasonal peak for fertilizer stocks as dealers restock from spring planting. Here are a few hot links about commodities from around the web that you might find useful.

Chocolate Losing to Cocaine on Colombia Cocoa Slump – Prices of cocoa beans, used to make chocolate, have dropped 40 percent this year in Colombia, South America’s third-largest supplier, as the cost of leaves processed into cocaine holds steady, according to data compiled by police and growers…Read More

Rice Harvest in India Set to Drop as Drought Curbs Sowing – The monsoon-sown harvest may be between 5 million metric tons and 7 million tons below a record 91.5 million tons a year earlier…Read more 

Early trading prices (per bushel unless otherwise stated)

Contract Commodity Last Change
Dec 2012 Corn $8.0475 +0.0075
Sept 2012 Wheat $8.5725 +0.1050
Nov 2012 Soybeans $16.2950 -0.0500
Sept 2012 Soybean Oil (Metric Ton) $53.0800 +0.0100
Sept 2012 Soybean Meal (Metric Ton) $520.1000 +0.1000

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