Corn looks to China news

U.S. equity futures grain traded mixed Monday after sudden changes in the last week as talk of China's corn sales lost some luster without confirmation by the government.
Corn for May delivery, the most actively traded contract, ended up three cents, or 0.4%, to $ 6.86 1 / 2 a bushel on the Chicago Board of Trade. deferred contract months posted strong gains on concerns about spring planting.
The May contract near see-sawed between positive and negative territory before finishing with slight gains as many traders were disappointed with the U.S. Department of Agriculture not confirm U.S. exporters China sell corn. Talk about the company pushed futures sharply higher last week the market recovered from heavy selling earlier in the week.
"We can confirm anything in the world markets in the purchase of corn from China," said Tom Leffler, owner of Leffler Commodities in Kansas.
The USDA reported Monday that exporters reached agreements to sell 116,000 tons of corn to unknown destinations for delivery in the 2010-11 season, which ends May 31. Often, a U.S. exporter agrees to sell goods to an intermediary who has not yet decided the fate of foreign goods.
Market participants suspected that the buyer may be China and that China can keep buying to replenish the household or, potentially, to sell to earthquakes battered Japan in the future. China, which has struggled for self-sufficiency, it would be an unexpected source of demand and market supplies running out, and is projected to reach a 15-year low this year due to strong internal and external use.
deferred month contracts felt the support of farmers' concerns U.S. can not expand enough plantings this spring to replenish supplies. Corn for December delivery, representing the crop to be harvested next fall, rose 11 cents, or 1.8%, to $ 6. September 1 / 2 a bushel.
Market participants are nervous rain could delay planting of corn and spring wheat, traded at MGEX, and encourage farmers to plant soybeans, which are planted later in spring grains. planting delays related to the flooding is likely to have little effect on the performance end, but "could temper much needed corn acres this spring," said Morgan Stanley in a note to clients.
Soybean futures rose Monday, with the largest increases in deferred contracts represent the next harvest in plantations concerns may still fall short of expectations. An estimate issued Friday by the private firm Informa Economics analysis for soybean plantings of 75.3 million acres was 3.5% below a recent government estimate.
Soybeans for May delivery closed up 1 / 2 cent, or 0.04%, to $ 13.63 a bushel, while soybeans for November delivery rose 11 cents, or 0.8%, to $ 13.45 . of soft red winter wheat for May delivery fell 2 cents, or 0.3%, to $ 7. 21 per bushel on the CBOT.
Other MarketsEthanol for May delivery lost 0.08% to $ 2.481 a gallon on the CBOT, while oats for May delivery fell 0.6% to $ 3.50 a bushel. May rice rose 1.5% to $ 13.83 02.01 per hundredweight. May Soybean Oil finished up 0.2% to 55.88 cents a pound, and May soymeal fell 0.4% to $ 366.40 per short ton.
(Source: http://www.agriculture.com/news/crops/cn-looks-to-china-news_2-ar15529)