September 13, 2011

EU corn, wheat seen up

The publication of US government crop estimates states on Monday (September 12) a rise in EU milling corn and wheat.

Benchmark November corn was up 1 % at US$290.03 per tonne and November milling wheat was trading slightly higher, up US$0.68 or 0.2 % at US$282.51 per tonne by 1245 GMT after trading lower in earlier trade.

The US Department of Agriculture on Monday pegged US corn yield this year at 148.1 bushels per acre, compared with trade estimates for 149.1 bushels and its August estimate of 153 bushels.

European rapeseed fell after the benchmark November rapeseed <COMX1> was down 0.7 % at US$608.78 per tonne after trading slightly higher earlier.

In its September supply-demand report, the USDA pegged soy yield at 41.8 bushels per acre, compared with trade estimates for 41.039 bushels and its August estimate of 41.4 bushels.