News Snapshot:
REUTERS CHICAGO — The US Department of Agriculture’s (USDA) forecasts for corn and soybean plantings on Wednesday fell below analyst expectations, sending futures prices for both commodities up by their daily limits. Smaller-than-expected plantings of the two main cash crops in the United States would heighten concerns about global food and animal feed supplies after importers and domestic processors loaded up on grain and oilseeds earlier this year. The United States is the world’s biggest corn exporter and the No. 2 soybean supplier. With soybean prices hovering around a 6-1/2 year high and corn prices the highest in some 7-1/2...
