TOP STORIES:
3rd UPDATE: USDA Cuts Corn Production Forecast Again
Federal forecasters cut their outlook for the size of the U.S.
corn crop for the second straight month, yet expect surging prices
to cool demand and prevent supplies from falling to an all-time low
next year.
UPDATE: Wheat, Barley Farmers Back Canadian Wheat Board Monopoly
A majority of wheat farmers in Canada's western prairies
supports continuing a monopoly over their crop, according to
results of an nonbinding vote released Monday.
STORIES OF INTEREST:
Monsanto Expects 5%-10% Increase In Corn Seed Prices For 2012
Monsanto Co. (MON) expects to increase prices for its key corn
seed brand by 5% to 10% in 2012, an executive said Monday.
US Corn Futures Turn Higher As Supply Worries Spread
CHICAGO (Dow Jones)--U.S. corn futures climbed at midday Monday
as traders became increasingly worried grain users will continue to
show strong demand for shrinking supplies.
USDA Says 114,300 Tons Of Corn Sold To Unknown In 11-12
WASHINGTON (Dow Jones)--Private exporters reported to the U.S.
Department of Agriculture export sales of 114,300 metric tons of
corn for delivery to unknown destinations for delivery during the
2011/2012 marketing year.
Canadian Wheat Board: Government Should Respect Farmer Vote
WINNIPEG (Dow Jones)--The Canadian Wheat Board is calling on the
federal government to respect the results of a farmer plebiscite
and back away from intentions to do away with the single-desk
marketing powers of the CWB.
MARKETS
US GRAIN AND SOY REVIEW: Supply Cut Boosts Corn Futures
CHICAGO (Dow Jones)--Federal forecasters cut their outlook for
the U.S. corn harvest for the second straight month, yet expect
high prices to cool demand and prevent supplies from falling to an
all-time low next year.
US CASH GRAIN: Soy Cash Basis Steadies On Futures Slide
CHICAGO (Dow Jones)--U.S. cash soybean basis levels steadied
Monday, supported by slower movement of supplies amid weaker
futures prices.
-By Andrew Johnson Jr.; Dow Jones Newswires; 312-750-4126;
andrew.johnsonjr@dowjones.com