Grain futures traded on Globex overnight were mostly lower at 1100 GMT Friday.
Last Change High Low Volume
December Corn $6.12 -5 1/2 6.17 6.10 3/4 5539
September Wheat $8.88 -9 1/4 8.93 1/28.81 1/2 460
November Soybeans $13.42 -6 13.48 13.36 1/4 3431
December Soymeal $360.0 +1.3 360.0 355.6 434
December Soyoil $56.07 -0.28 56.70 55.85 919
TOP STORIES:
Big Crop, New System To Pressure Australia Wheat Price
CANBERRA (Dow Jones)--Despite more competition to buy wheat following the opening up of wheat exports, Australian wheat prices could see increased volatility and significant downward pressure this year as harvesting picks up October through December.
US Cash Grain Review:Export Basis Runs Counter To Sales Trends
CENTRAL CITY, Neb. (Dow Jones)--CIF basis for cash corn and soybeans posted solid gains for a second straight session at ports in the Louisiana Gulf market on Thursday, despite issuance of a thoroughly bearish export sales report from the federal government.
STORIES OF INTEREST:
EU Soft Wheat Export Licenses Rise 413,000 Tons On Week
LONDON (Dow Jones)--European Union licenses to export soft wheat rose 413,000 metric tons for the week ended Aug. 19, E.U. data showed Friday.
Argentine Grains Rise In Line With CBOT
BUENOS AIRES (Dow Jones)--Argentine grain prices were up on the week at the Rosario Grain Exchange Thursday, in line with rising prices at the Chicago Board of Trade.
Argentina OKs 1.4M Tons More In Wheat Exports - ONCCA
BUENOS AIRES (Dow Jones)--Argentina has authorized an additional 1.4 million metric tons of 2007-08 wheat for export, Ricardo Echegaray, director of the national agricultural trade office, or ONCCA, said Thursday.
Argentina 08-09 Corn Forecast 3.6Mln To 3.8Mln Hecs-Ag Secy
BUENOS AIRES (Dow Jones)--Argentina will plant 3.6 million to 3.8 million hectares with corn in the upcoming 2008-09 season, a 5% to 10% drop from last year, the Agriculture Secretariat said in its monthly crop report Thursday.
US Crop Tour: Iowa Corn Yield Up Slightly; Soybean Pods Drop
AUSTIN, Minn. (Dow Jones)--Scouts on the 2008 Pro Farmer Midwest Crop Tour made a slightly higher Iowa corn yield estimate than they did a year ago, but soybean pod counts dropped, as the state's crop tries to recover from the historic flooding that battered the state in June.
US Crop Tour: No Disease Or Insect Problems Seen In SW Minn
PORTER, Minn. (Dow Jones)--Corn in southwest Minnesota is showing strong ear populations and a lack of disease, insect or dryness pressure, according to scouts on one western route of the 2008 Pro Farmer Midwest Crop Tour.
Source: Mark Lempp, Dow Jones