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85% of Iowa's corn crop planted

17 Mai 2017

The fibre was little helped by some fundamental data, with the US Department of Agriculture overnight saying that farmers had god 33% of their cotton planted in the week to Sunday, closing the gap a little with the average pace (37%).

Iowa farmers took advantage of agreeable weather and made significant planting progress this past week.

Not that all observers see this as a wise idea.

The Chicago Board of Trade most-active wheat contract fell 0.7 percent to $4.29-3/4 a bushel by 0337 GMT, having closed down 0.2 percent on Friday.

"Wheat is again being weakened by prospects of big global supplies, with crops in the northern hemisphere developing overall positively, reinforcing prospects of good harvests this summer", said Stefan Vogel, head of agricultural commodity markets research at Rabobank. Statewide there were 4.5 days suitable for fieldwork, up more than a day from the previous week. Winter wheat condition was rated 7 percent very poor, 14 percent poor, 27 percent fair, 45 percent good, and 7 percent excellent.

Informa raised its forecast of US 2017 soybean plantings to 89.662 million acres, above the USDA's March figure of 89.5 million acres.

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Wheat, corn and soy USA cents/bushel.

Soybeans rose 0.2 percent to $9.64-1/2 a bushel, after ending down 0.3 percent on Friday when prices dropped to their weakest since May 1 at $9.60-1/2 a bushel.

CHS Hedging said that "the 6-10 day forecast shows temperatures moving cooler, with some areas in Colorado moving below freezing".

The USDA said on Tuesday morning that private exporters reported the sale of 132,000 tonnes of soybeans for delivery to unknown destinations during the 2016/17 marketing year.

"That has provided some support to the soybean complex".