GRAIN HIGHLIGHTS: Top Stories of the Day
Grain, Soybean Futures Slide on Harvest Pressure
Grain and soybean futures fell on pressure from the ongoing U.S. harvest.
Farmers across the Midwest are starting to collect their corn and soybean crops. While still in early stages, analysts say many farmers are reporting better-than-expected yields.
That weighed down futures on Thursday, despite signs of strong demand for those crops. The U.S. Department of Agriculture said that private exporters reported sales of 233,800 metric tons of corn and 132,000 tons of soybeans to what it called unknown destinations for 2017-18.
November soybean futures fell 0.6% to $9.59 1/2 a bushel at the Chicago Board of Trade. CBOT December corn futures fell 0.4% to $3.52 1/2 a bushel, while December wheat contracts dropped 1.4% to $4.55 a bushel.
Kellogg CEO John Bryant to Step Down
Kellogg Co. chose an outsider as its new chief executive, becoming the fifth major food and beverage company to name a new leader in a tumultuous year for the industry.