Corn Higher as Increased Export Demand Confirmed. Corn for March delivery rose 1.2% to $4.33 1/ 4 a bushel, on the Chicago Board of Trade Monday, after the USDA confirmed more U.S. corn exports being purchased. Some 334,000 metric tons of U.S. corn exports have been sold to unknown destinations, the USDA confirmed Monday.
Cargill's CEO on Preventing Covid-19 Surge From Disrupting the Food Supply. David MacLennan steered one of the world's biggest food suppliers through Covid-19's world-wide spread in the spring. Now he is bracing for another surge.
New York cocoa hit a nine-month high on Monday as funds continued to buy given tightness in nearby supplies in the physical and futures markets, where stocks are falling. Sugar and coffee also rose. COCOA. * March New York cocoa rose $38, or 1.4%, to $2,747 a tonne by 1507 GMT, after hitting the highest level since late February at $2,774.
New York cocoa hit a new nine-month high on Monday as funds continued to buy given tightness in nearby supplies in the physical and futures markets, where stocks are falling. Sugar and coffee also rose. COCOA. * March New York cocoa rose $42, or 1.5%, to $2,754 a tonne by 1319 GMT, after hitting $2,774, the highest since late February.
U.S. chocolate maker Hershey Co (HSY) has positioned itself to receive a sizeable amount of cheap cocoa from futures exchange ICE, a move that highlights difficulties African producers are having to sell beans at a recently-agreed premium, traders said. According to several market sources, Hershey moved to take delivery of thousands of cocoa lots before the December contract expires on Dec. 15.
Smithfield Settles Lawsuits Over Noise, Smell of Hog Farms in North Carolina. Chinese-owned pork producer Smithfield Foods Inc. settled a series of lawsuits with dozens of residents in rural North Carolina over the nuisance caused by living near hog farms run by company contractors. The settlement brings an end to more than two years of litigation over the noise and odors produced by traditional methods of hog farming, which include storing waste in open lagoons.
Soybean Futures Climb But Fail to Break $12/ Bushel Barrier. Soybeans for January delivery rose 0.3% to $11.81 a bushel on the Chicago Board of Trade on Friday, paring gains after a move higher couldn't breach the $12 threshold. Corn for December delivery rose 0.2% to $4.28 1/ 4 a bushel.
* Soybeans at highest since June 2016, up 12% this month. * Strong demand and dry South American weather support. * Corn hits highest since July 2019, wheat rises. By Karl Plume. CHICAGO, Nov 20 - U.S. soybean futures rose for a sixth consecutive session on Friday and hit a four-year high on dry conditions in key South American crop areas and concerns about dwindling U.S. supplies.
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