Commodity Morning Bell - 26-Oct-2009

Research report by 'RR Financial Consultants'
     
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Soybens Gain as Rain, Cold weather May Delay U.S. Crop Harvest -- Soybeans climbed, extending the previous three weeks' 15 percent advance, on speculation that rain, snow and cold weather may delay the U.S havest, threatening to damage crop yields. corn and wheat also gained. Futures rose on the possibility of a snowstorm extending from the central and southern Rockies into the Plains in the middle of this week. The oilseed advanced 3.1 percent last week, capping the longest weekly rally since early June. Soybeans were underpinned by forcasts for rain and cold weather in the U.S Midwest, prompting speculation the oilseed harvest may be delayed further. Soybeans for January delivery added as much as 1.2 percent to $10.1925 a bushel in electronic trading on the Chicago Board of Trade and were at $10.19 as of 11.12 a.m. Tokyo time. About 30 percent of U.S. soybean crops were harvested by Oct. 18 up from 23 percent a week earlier, and below the average of 72 percent over the previous five years


   
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