Corn and soybeans saw double digit rallies again on Monday as concerns continue to mount about the slow progress of the corn and soybean harvest, as rain continues to hamper harvest progress. The U.S. harvest of corn and soybeans is off to the slowest start since at least 1985, when the U.S.D.A. began issuing weekly harvest progress figures, the agency's latest weekly report showed. The USDA reported on Monday that only 17 percent of the U.S. corn crop has been harvested, down significantly from the 5-year seasonal pace of 46 percent. It said crop conditions remain favorable. The USDA said that only 30 percent of the US soybean crop was harvested, compared to a normal season pace of 72%.
U.S. stocks rose to fresh 12-month highs on Monday as optimistic investors rode a wave of solid quarterly earnings. The dollar hovered near a 14-month low against the euro on Monday as investors bet the Federal Reserve will hold U.S. interest rates near zero well into the coming year. The euro traded within half a cent of $1.50, a level not seen since August 2008.
Chris Spurlock
Posts
No comments:
Post a Comment