China will accelerate the breeding of new soybean and corn varieties and prioritize yield improvements for key grains and oil crops, as part of broad efforts to ensure food security, the agriculture ministry said in a statement late on Wednesday.
Chicago corn, soy and wheat futures dipped on Wednesday as the dollar jumped on uncertainty over U.S. President-elect Donald Trump's tariff plans, and as investors squared positions and awaited supply and demand data from the U.S. Department of Agriculture.
South American weather forecasts, positioning ahead of the Jan. 10 United States Department of Agriculture supply/demand report and uncertainty over trade policies under the incoming Trump administration were all influencing the Chicago grain and oilseed markets during the first days of 2025.
Chicago Board of Trade corn futures Cv1 on Monday surged to a more than six-month high amid growing concern over dry conditions in Argentina, market analysts said.
A hot, dry austral summer is beginning to cause damage to Argentina's 2024/25 soybean and corn crops, the country's two main grains exchanges said on Friday, after abundant spring rains had until recently provided excellent growing conditions.
Chicago soybean and corn futures were higher in see-saw trading on the first trading day of 2025, supported by ongoing concerns related to dry weather in South America, especially Argentina, a leading producer of both commodities.
Chicago soybean, corn and wheat futures rallied on Tuesday on short-covering and concerns over weather conditions in South America and Russia, market analysts said.
Chicago Board of Trade corn futures turned lower on profit-taking after the benchmark contract Cv1 hit a six-month high in choppy trade ahead of the year's end, market analysts said.
Conditions for winter wheat crops will worsen in Russia's Central and Volga areas in January as warmer-than-usual weather and excess moisture causes sprouts to keep growing during the winter, the state weather agency said on Saturday.