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Demand, Yield Worries Tugging at MarketCHICAGO - Aug 3/06 - SNS -- International agriculture commodity markets were relatively busy overnight with the Japanese government and Taiwan buying corn, wheat and barley; while companies were working hard on selling their fair share of India's 400,000 metric ton (MT) wheat import tender. Markets are also being influenced by ground surveys in the United States which suggest the current heat wave is having more impact on yields than previous thought. For its part, this week's yield update from Chicago's Linn Group reveal yield potential is trending downward. It came in at 150.08 bushels per acre for a 10,819.5 million bushel harvest. The Forecast yield is still above the 149 bushels contained in last month's USDA outlook, but below the majority trade expectations of between 151 and 155 bushels per acre. On the other hand, FC Stone thinks U.S. corn production will reach 10.887 billion bushels with a yield of 151 bushels per acre Subscribers can read the full text of the article by Clicking here
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