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Business Recorder
14 hours ago
- Business
- Business Recorder
Wheat down 1-2 cents, corn steady-up 1, soy up 5-6
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Wednesday. Wheat - Down 1 to 2 cents per bushel Wheat futures rose on Wednesday, extending gains from the previous session, after top exporter Russia trimmed its harvest and export forecasts, but gains were limited by ample global supply. Crop scouts on the first day of an annual three-day tour of North Dakota's hard red spring wheat crop projected above-average yields in the southern part of the top-producing state following plentiful rains this summer, although the yields fell short of a record set last year. CBOT September soft red winter wheat was last down 2-1/2 cents to $5.47 per bushel. K.C. September hard red winter wheat was last down 2-1/4 cents to $5.31 per bushel. Minneapolis September wheat was last down 1 cent to $5.90-3/4 a bushel. Wheat up 1-2 cents, corn down 3-4, soy down 2-5 Corn - Steady to up 1 cent per bushel Corn futures were nearly unchanged as forecasts for crop-friendly rainy weather and plentiful supply weighed. The United States and Japan struck a deal to lower the hefty tariffs President Donald Trump threatened to impose on goods from its Asian ally that included a $550 billion package of U.S.-bound investment and loans from Tokyo. The U.S.-Japan deal has added broad support to grain futures. CBOT December corn was last unchanged at $4.18 per bushel. Soybeans - Up 5 to 6 cents per bushel Soybeans climbed following a decline in U.S. crop ratings and hopes that trade deals may boost demand for U.S. exports. Beneficial weather has continued to weigh on soy futures. CBOT November soybeans were last 5-3/4 cents higher to $10.31-1/4 per bushel.
Newsweek
a day ago
- Climate
- Newsweek
Hundreds of Thousands Given Minutes to Take Shelter As Severe Storms Hit
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Communities across the Midwest, Southeast, and South United States were placed under urgent severe thunderstorm warnings Tuesday, with the National Weather Service (NWS) issuing immediate shelter directives to hundreds of thousands of residents across numerous states. Within minutes, warnings and shelter-in-place orders were issued in regions from Minnesota to Florida, as radar indicated storms threatened to bring damaging winds, hail, flash flooding, and the risk of tornadoes to impacted areas. Why It Matters Severe storm warnings, especially those issued with little advance notice, can leave affected residents with only minutes to seek safety. Tuesday's alerts underscored the unpredictability and widespread reach of hazardous summer weather in the U.S., with more than 400,000 people at risk of lightning, hail, and destructive winds with the current warnings. Past events, such as the deadly flash floods in Texas and tornado outbreaks across the Midwest earlier this year, highlight the life-threatening nature of such rapidly developing storms. A storm is seen over a rural landscape. A storm is seen over a rural landscape. Greg Kelton/Getty What to Know On Tuesday, the National Weather Service (NWS) issued multiple severe thunderstorm warnings across Alabama, Florida, Minnesota, and South Carolina. The warnings affected counties such as Jackson and DeKalb in Alabama, St. Lucie, Okeechobee, Martin, Gadsden, Leon, Wakulla, and others in Florida, Aitkin and Crow Wing in Minnesota, and Clarendon, Orangeburg, and Charleston in South Carolina. Alabama: At 2:44 p.m. CDT, a severe thunderstorm near Pisgah prompted warnings for southeastern Jackson and central DeKalb counties, threatening 60 mph wind gusts and penny-sized hail. The NWS warned of roof, siding, and tree damage and the possibility of flash flooding in low-lying areas. At 2:44 p.m. CDT, a severe thunderstorm near Pisgah prompted warnings for southeastern Jackson and central DeKalb counties, threatening 60 mph wind gusts and penny-sized hail. The NWS warned of roof, siding, and tree damage and the possibility of flash flooding in low-lying areas. Florida: Warnings covered areas near Tallahassee, Okeechobee, St. Lucie, and Martin Counties, with storms producing wind gusts up to 60 mph and hail. Locations threatened included state capitols and major highways. Residents in mobile homes or outdoors were advised to seek immediate shelter. NWS meteorologist Blair Scholl told Newsweek it's possible another severe thunderstorm warning will be issued over the next few hours in the Florida panhandle region. Warnings covered areas near Tallahassee, Okeechobee, St. Lucie, and Martin Counties, with storms producing wind gusts up to 60 mph and hail. Locations threatened included state capitols and major highways. Residents in mobile homes or outdoors were advised to seek immediate shelter. NWS meteorologist Blair Scholl told Newsweek it's possible another severe thunderstorm warning will be issued over the next few hours in the Florida panhandle region. South Carolina: Severe thunderstorms with wind gusts forecast at 60 mph impacted Charleston, Clarendon, and Orangeburg counties. The warnings instructed people to move to interior rooms on the lowest floors and avoid windows due to the risk of falling trees and property damage. Severe thunderstorms with wind gusts forecast at 60 mph impacted Charleston, Clarendon, and Orangeburg counties. The warnings instructed people to move to interior rooms on the lowest floors and avoid windows due to the risk of falling trees and property damage. Minnesota: In Aitkin and Crow Wing counties, a storm near Emily moved east at 35 mph, bringing possible 70 mph wind gusts and quarter-sized hail. The NWS issued a precaution about the chance of tornado development, advising residents to monitor warnings closely and prepare for rapid changes. Across the affected regions, the NWS warnings highlighted specific at-risk locations, such as campgrounds, marinas, universities, and urban areas, and included directives such as: "For your protection move to an interior room on the lowest floor of a building." Severe thunderstorm warnings can sometimes precede tornado development, as noted in guidance urging residents to remain alert for updates. Hail and damaging winds were some of the most serious impacts of the storm, but in Alabama, torrential rainfall also endangered people. "Torrential rainfall is occurring with this storm, and may lead to flash flooding," the severe thunderstorm warning said. "Do not drive your vehicle through flooded roadways." The NWS advised that severe thunderstorms can develop with little notice, leaving limited time for preparation. As severe weather sweeps into the evening hours, risks include downed trees and powerlines, property damage, and dangerous flash flooding. Power outages and travel disruptions are likely in the most severely hit regions. What People Are Saying NWS Tallahassee in a post on X, formerly Twitter: "It's getting messy with these storms converging on each other. The I-10 corridor down to #Tallahassee is will be impacted imminently. Seek shelter if you're in the area. Can't rule out a severe thunderstorm and/or flash flood warning." NWS in a Tuesday forecast: "Scattered severe thunderstorms are expected over parts of the northern Plains into the upper Mississippi Valley today, with damaging winds and large hail as the primary threats. Heavy rainfall could lead to areas of flooding across the northern Plains, Upper Midwest, Southeast and Southwest." What Happens Next Although some warnings began to expire within an hour—reflecting the swift movement of the storm cells—the NWS cautioned that atmospheric conditions remain conducive to further severe weather. Additional warnings, including tornado watches, could be issued in the coming hours. Residents in threatened areas were advised to remain vigilant, stay tuned to official weather alerts, and take immediate action if additional warnings are broadcast.
Business Recorder
2 days ago
- Business
- Business Recorder
Wheat up 1-2 cents, corn down 3-4, soy down 2-5
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Tuesday. Wheat - Up 1 to 2 cents per bushel Wheat futures firmed slightly, though expectations of strong global supply continued to hang over the market. Russia, the world's biggest wheat exporter, has trimmed its forecasts for the 2025 wheat harvest and for wheat exports in the 2025/26 marketing season, Agriculture Minister Oksana Lut told a government meeting on Tuesday. The U.S. winter wheat harvest is speeding along, with the U.S. Department of Agriculture reporting 73% of the crop has been harvested, compared to 63% harvested in the previous week. CBOT September soft red winter wheat was last up 1 cent to $5.43-1/4 per bushel. K.C. September hard red winter wheat was last 2-3/4 cents higher to $5.28-1/2 per bushel. Minneapolis September wheat was last up 1/4 cent to $5.87-3/4 a bushel.. Wheat up 7-10 cents, corn up 3-6, soybeans up 8-12 Corn - Down 3 to 4 cents per bushel Corn futures ticked down following strong crop ratings released by the USDA and forecasts for crop-friendly rain in the U.S. Midwest. The USDA rated 74% of the U.S. corn crop in good-to-excellent condition as of Sunday, the highest rating for this time of year since 2016 and unchanged from the previous week. CBOT December corn was last down 4-1/4 cents to $4.18 per bushel. Soybeans - Down 2 to 5 cents per bushel Soybeans fell on beneficial crop weather in the U.S. Midwest as well as expectations of a plentiful global supply. The USDA rated 68% of the soybean crop in good-excellent condition, down from 70% the previous week and below the average analyst estimate. The USDA may have lowered soy condition ratings due to dryness in parts of the U.S. soy belt, analysts said. CBOT November soybeans were last 2-3/4 cents lower to $10.23-1/4 per bushel.
Newsweek
2 days ago
- Climate
- Newsweek
Midwest City Could Hit Triple-Digit Temperature Not Seen in Nearly 2 Years
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. As a heat wave grips the Central U.S. this week, Kansas City, Missouri, could hit 100 degrees for the first time in nearly two years. "Kansas City, Missouri, has not hit 100 degrees since Aug. 25, 2023, but is positioned to do so on multiple days during the upcoming heat dome," AccuWeather Senior Meteorologist Chad Merrill said in an AccuWeather report. Newsweek reached out to AccuWeather by email for comment. Why It Matters The heat wave poses immediate risks for millions, with AccuWeather and the National Weather Service (NWS) warning of heightened danger for heat-related illnesses from exposure to excessive heat and humidity. The event highlighted the vulnerability of major Midwest cities to extended heat waves, particularly as the heat index, or the feels-like temperature, was projected to climb as high as 107 degrees in Kansas City. A map from AccuWeather shows where the heat wave will bring hot temperatures this week. A map from AccuWeather shows where the heat wave will bring hot temperatures this week. AccuWeather What To Know The NWS in Kansas City issued an extreme heat warning, effective through 7 p.m. CDT on Thursday. The warning covered Kansas City and surrounding counties in eastern Kansas and western Missouri. The alert cautioned residents to "drink plenty of fluids, stay in an air-conditioned room, stay out of the sun, and check up on relatives and neighbors." The NWS also advised limiting strenuous activities to the early morning or evening hours and watching for signs of heat exhaustion or heat stroke. The warning encompassed multiple counties, including urban centers and rural areas, and extended through one of the busiest stretches of summer for outdoor activities and travel. The AccuWeather forecast called for daytime highs to reach or exceed 100 degrees across much of the U.S. that has not yet seen such high temperatures this summer. The persistence of this heat wave was attributed to a heat dome, a large zone of high pressure trapping hot air at the surface. AccuWeather reported that the core of the dome could "linger through a good chunk of August," potentially resulting in "a long-lasting heat wave with limited rainfall." On Monday, the NWS HeatRisk map anticipated that there would be a major risk for heat-related impact in the Kansas City area. "This level of heat affects anyone without effective cooling and/or adequate hydration," the map said. "Impacts likely in some health systems, heat-sensitive industries and infrastructure." The HeatRisk forecast expects major heat impact to persist across parts of the Central U.S. through at least Sunday. What People Are Saying NWS Kansas City, in an extreme heat warning: "Heat related illnesses increase significantly during extreme heat and high humidity events." NWS, in a forecast on Monday: "The heat will increase and expand across the Central Plains, Mississippi Valley, Southeast and into the Eastern U.S. through the week as high pressure builds across the eastern two-thirds of the country. On the northern periphery of this heat, the threat for severe thunderstorms and heavy rainfall across the northern Plains and upper Midwest through Tuesday." What Happens Next The immediate threat of extreme heat will remain through at least Thursday, with the possibility of continued high temperatures if the heat dome persists into August. Conditions were expected to be especially challenging for outdoor workers, the elderly and those without access to air conditioning. AccuWeather warned that nights would offer little relief, with low temperatures forecast in the mid-70s to low 80s. The NWS advised extreme caution and recommended regularly checking the latest forecasts and warnings for updates as the situation evolved. As the heat dome remains in place, local authorities and health officials reiterated the importance of community outreach and preparedness measures to prevent heat-related emergencies.
Business Recorder
6 days ago
- Business
- Business Recorder
Wheat up 7-10 cents, corn up 3-6, soybeans up 8-12
CHICAGO: The following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade at 8:30 a.m. CDT (1330 GMT) on Friday. Wheat - Up 7 to 10 cents per bushel Wheat futures higher on short covering ahead of the weekend after sinking to multi-month lows a day earlier. A weaker U.S. dollar and spillover support from higher corn and soybeans also underpinned the market. CBOT September soft red winter wheat was last up 9-3/4 cents at $5.43-1/4 per bushel. K.C. September hard red winter wheat was last 11-1/2 cents higher at $5.29 per bushel. Minneapolis September wheat was last up 2-1/2 cents at $5.97-1/2 a bushel. Corn - Up 3 to 6 cents per bushel Corn higher on short covering and technical buying ahead of the weekend. Some concerns about excessive heat forecast for the U.S. Midwest next week also supportive. The actively traded December corn contract broke through overhead technical resistance at its 20-day moving average during overnight trading and climbed to nearly a two-week high. Above-normal temperatures are forecast for much of the Midwest farm belt over the next week before turning milder, meteorologists said. Some scattered showers are also expected. CBOT December corn was last 5-1/4 cents higher at $4.26-1/4 per bushel. Soybean heads for 3% weekly gain on US demand hopes Soybeans - Up 8 to 12 cents per bushel Soybeans firmer on short covering and technical buying ahead of the weekend, and as excessive heat in the Midwest forecast raised some concerns about yield impacts. Higher soyoil prices also supportive to soybeans. Actively traded November soybeans broke through overhead technical resistance at the 50-, 100- and 200-day moving averages during overnight trading and partly filled a chart gap left after a plunge in prices two weeks ago. Above-normal heat and some showers are forecast for the Midwest farm belt over the next week before temperatures turn milder, meteorologists said. Traders are monitoring forecasts ahead of August, when much of the U.S. soy crop begins filling pods. CBOT November soybeans were last 10-1/4 cents higher at
