Food Industry
Industry: Email Alert RSS FeedWeather Key For CBOT Corn, Soybeans - Analyst.
Resource News International, July, 2006
Byline: Phil Franz-Warkentin, Resource News International
Winnipeg, MB, Jul 13, 2006 (Resource News International via COMTEX) -- Weather conditions over the next several weeks could cause sharp swings in the Chicago Board of Trade (CBOT) soybean and corn markets, according to an analyst.
While weather forecasts for the US Midwest often change from one hour to the next, a ridge seems to be developing that could keep conditions in some key soybean growing regions hot and dry into August, according to sources.
Although nearby soybean stocks are still large, Mark Hanson of Benson Quinn Commodities in Minneapolis, thought the supplies could turn tight fairly quickly given the growing demand for vegetable oil from the biodiesel sector. He added...
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