Grains, soy shake off losses

US grain and soybean futures finished slightly higher Tuesday as concerns farmers will not sow enough acres this spring sparked a recovery from early losses.

Corn for May delivery, the most-actively traded contract, edged up 1/4 cent, or 0.04 percent, to US$6.86 3/4 a bushel at the Chicago Board of Trade, above the session low of US$6.73. Soybeans for May delivery rose 2 1/2 cents, or 0.2 percent, to US$13.65 1/2 a bushel after reaching a session low of US$13.44.

Market participants are nervous farmers will not plant enough corn and soybeans this spring, to replenish tight supplies due to competition for acres from high-priced cotton. Wet weather also threatens to disrupt plantings of corn, which is sown earlier in the spring than soybeans. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.