Chicago Mercantile Exchange cattle futures continued to rally on Tuesday, with feeder contracts setting new all-time highs, as U.S. cash prices remained firm and domestic supplies of replacement animals continued to shrink, market analysts said.
Chicago wheat futures extended gains on Wednesday, at one point rising to a one-month high, amid support by a weaker dollar and short-covering encouraged by production concerns, market analysts said.
Chicago corn and soybean futures ended lower on a volatile day of trading Tuesday, as U.S. farmers raced to plant their fields and investors bemoaned a lack of fresh news over the U.S.-China trade war, traders said.
Chicago Board of Trade wheat futures fell on Wednesday amid signs of profit-taking and reports of ample global supplies, which are outweighing concerns over smaller Russian crop estimates, market analysts said.
Chicago Board of Trade corn futures ticked up on Thursday on signs of short-covering and consolidation, with traders hopeful that President Donald Trump will get foreign buyers to purchase more U.S. farm goods, market analysts said.
Chicago Board of Trade corn futures extended session losses on Tuesday, weighed down by forecasts for crop-friendly rain in U.S. grain belts this week.
Chicago wheat futures fell on Thursday as a short-covering rally earlier this week that took prices to a one-month peak petered out, with traders seeing limited threats to Northern Hemisphere crops despite adverse weather concerns.
Chicago Board of Trade wheat futures surged to a two-week high on Tuesday, as a weaker dollar and an unexpected decline in U.S. crop ratings encouraged more short-covering after prices hit a five-year low last week.
Chicago | Reuters – Chicago Board of Trade wheat futures fell on Friday and notched a weekly loss, as plentiful global supply from ongoing Northern Hemisphere harvests outweighed strong U.S. exports. Corn futures eased on the day, with the most-active contract Cv1 ended the week nearly 2.05 per cent lower, amid expectations of a large[...]
Chicago Mercantile Exchange live cattle firmed on Wednesday as wholesale prices continued to rise and consumer demand for beef has stayed strong amid the U.S. grilling season, market analysts said.