GRAINS-Corn nears 4-year excessive, soybeans agency on U.S. climate worries – Agricultural Commodities

 (Recasts, updates costs, provides quotes, modifications byline, modifications
dateline from earlier PARIS/SINGAPORE)
    By Julie Ingwersen
    CHICAGO, June 13 (Reuters) - U.S. corn futures neared a
four-year excessive on Thursday, buoyed by worries about yield
prospects for the delayed crop and agency money markets, analysts
mentioned.
    Soybeans additionally superior as climate worries threatened to
curtail U.S. manufacturing of the oilseed, and wheat futures
adopted the agency development.
    Chicago Board of Commerce July corn settled up 12 cents
at $4.42 per bushel after reaching $4.42-3/4, the best for a
most-active contract since July 2015. New-crop December
 corn set a contract excessive at $4.56-3/4.
    CBOT July soybeans ended up 10 cents at $8.88 a bushel
and July delicate purple winter wheat futures completed up 9-1/4
cents at $5.35-1/2 a bushel.
    Corn led the way in which up, with technical shopping for accelerating as
the new-crop December contract pushed above its earlier
contract excessive of $4.54. 
    Money markets for corn have been agency in latest days
reflecting demand from ethanol producers and different processors,
coupled with a sluggish tempo of farmer choices.
    "Foundation ranges, significantly out east, are robust. Clearly
with the climate in Indiana, Ohio, jap Illinois, you're
beginning to see some hoarding of old-crop shares," mentioned Matt
Connelly, analyst with the Hightower Report.
    Connelly famous that the U.S. Power Data
Administration on Wednesday reported a rise in weekly U.S.
manufacturing of corn-based ethanol and a drop in U.S. shares.

    CBOT corn futures acquired an enormous increase on Tuesday when the U.S.
Division of Agriculture lower its forecast of the U.S. 2019 corn
yield in a month-to-month report and slashed its forecast of 2019/20
ending shares, citing "unprecedented planting delays." 
    "With a lot late planting this season, the tail on climate
threats to this U.S. corn crop will run properly into the northern
(hemisphere) autumn," mentioned Tobin Gorey, director of agricultural
technique at Commonwealth Financial institution of Australia.
    CBOT soybeans rose for a fourth consecutive session as
persistent rain within the Midwest crop belt raised considerations that
later-planted soy could be hit too. The USDA mentioned the U.S.
soybean crop was 60% seeded by June 9, in comparison with the five-year
common of 88%.
    "Producers are going to plant beans till the Fourth of July
weekend. They're going to get the crop in, however right here we go once more
with yield drag, and operating up in opposition to October climate and
maturity," Connelly mentioned.
    CBOT wheat futures adopted corn increased. Close by CBOT wheat
contracts gained in opposition to again months on spreads, supported by
robust home money foundation bids for delicate purple winter wheat.
       
    CBOT settlement costs:
                                  Internet      Pct  Quantity
                         Final  change   change        
 CBOT wheat     WN9    535.50    9.25      1.9   73930
 CBOT corn      CN9    442.00   12.00      2.8  375288
 CBOT soybeans  SN9    888.00   10.00      1.1  107445
 CBOT soymeal   SMN9   321.70    2.20      0.7   53773
 CBOT soyoil    BON9    28.02    0.46      1.7   61153
   NOTE: CBOT July wheat, corn and soybeans proven in cents per
bushel, July soymeal in {dollars} per brief ton and July soyoil in
cents per lb.
  

 (Further reporting by Gus Trompiz in Paris and Naveen
Thukral in Singapore, Modifying by Sherry Jacob-Phillips, Kirsten
Donovan and Tom Brown)
  

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