1. Corn and soybeans slid after a government report showed that recent cool and wet weather improved crop quality, increasing chances for large harvests. 2. Meanwhile, the Agriculture Department Monday reported modest improvement in corn, soybean, spring wheat and winter wheat crop quality. 3. Grain and soybean futures rose sharply Tuesday on the Chicago Board of Trade amid concerns about prolonged bad weather that could worsen crop quality. 4. Last week, the market posted huge gains on fears that hot and dry weather would move into the Corn Belt this week and hurt crop quality. 5. Market-watchers said significant precipitation over the next few days will improve the crop quality in southern Brazil, where a drought has caused some damage. 6. Scattered showers in the Plains states are still slowing harvest progress for winter wheat and are beginning to threaten crop quality. 7. The Agriculture Department reported modest improvement in corn, soybean, spring wheat and winter wheat crop quality in a weekly report released after the close of trading. 8. The rain could cause the crop quality to deteriorate, agronomists said. 9. There also is concern over crop quality. 10. Wheat futures were boosted by a government report of deteriorating winter wheat crop quality. |