Corn Declines on Speculation U.S. Farmers Sowed Record Number of Plants

(Bloomberg) -- Corn fell for the first time in five
sessions in Chicago on speculation that a jump in the number of
viable plants this year will produce the largest-ever crop in the
U.S., the biggest global exporter.

U.S. farmers may harvest a record number of ears per acre,
Bill Nelson, a vice president for A.G. Edwards Inc. in St. Louis,
said in a report to clients today after touring fields across the
Midwest last week. Temperatures as much as 6 degrees Fahrenheit
below normal limited stress in fields that received 25 percent of
normal rain in the last 30 days, Nelson said in the report.


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UPDATE 1-Approach Resources files with SEC to go public

(Reuters) - JPMorgan and A.G. Edwards are underwriting the IPO, the
company said in a preliminary filing with the U.S. Securities
and Exchange Commission.




Approach Resources intends to list its stock on the Nasdaq
under the symbol "AREX" .


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After dip on ISM, safety bid lifts bonds

(Reuters) - The Institute for Supply Management said its manufacturing index rose to 56.0 in June from 55.0 in May, slightly firmer than Wall Street had forecast.




"Orders increased and inventories decreased slightly, suggesting that manufacturing prospects still look good," said Gary Thayer, chief economist at A.G. Edwards and Sons in St. Louis. "But while manufacturing improved in the second quarter over the first quarter, it wasn't a big enough difference to cause the Fed to have to raise rates."


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