Chicago Board of Trade (CBOT) corn futures fell to a fresh three-year low on Friday as expectations of a record-large U.S. corn crop took a toll on prices. Soybeans also fell on seasonal harvest pressure and on technical selling after the bellwether new-crop November contract broke below key chart support at its 200-day moving average.Wheat
Corn slides to three-year low as bumper crop outlook weighs
U.S. harvest seen snarled by widespread rains this week
Harvesting of the 2013 U.S. corn and soybean crops will grind to a halt in most areas this week as rainfall spreads across the entire Midwest crop region, an agricultural meteorologist said on Monday. “We will be stalled for a few days, just about everybody will get the rains,” said John Dee, meteorologist for Global
Big buildup in corn stocks seen overwhelming prices
Active harvesting of a record-large U.S. corn crop likely will keep a lid on Chicago Board of Trade corn futures prices well into next year despite improving demand for the world’s chief feed grain due to the current lower price level, analysts said. Bellwether CBOT December corn, the first contract reflecting the newly harvested crop,
GRAINS-wheat near 4-month high on global crop issues
Chicago Board of Trade wheat futures rebounded to near a four-month high on Wednesday on concerns about the fate of crops in several key regions, including the Black Sea, Australia and Argentina. “The thought is that South America will be a big importer of U.S. wheat this year. South America’s wheat crop is in bad
GRAINS-U.S. soy turns lower on bright harvest prospects
U.S. soybean futures turned lower on Tuesday on active harvesting of the U.S. soybean crop and persistent reports of better-than-expected yields. Corn also eased on seasonal harvest pressure and big yields, while wheat turned up on bargain buying and a partial reversal of the technical downturn that occurred during Monday’s trading session. A lower U.S.
GRAINS-Wheat retreats from 4-month high on profit-taking
Chicago Board of Trade (CBOT) wheat futures retreated on profit-taking and technical selling on Monday after rising to the highest since early June on last week’s report of a low official crop estimate in Argentina. Commodity funds bought a net 6,000 contracts, or 30 million bushels of CBOT wheat, during Friday’s U.S. trading session but
U.S. soybeans up one per cent on exports, technical buying
U.S. soybean futures staged their strongest rally in five weeks on Thursday and wheat posted the steepest gain in a week, spurred by technical and bargain buying as the U.S. government returned to work and the dollar fell. Corn prices were flat, supported by good export demand but anchored by the advancing harvest of a
Livestock futures ease, U.S. shutdown sidelines trade
U.S. livestock futures fell Tuesday as investors were reluctant to trade after the U.S. government shut down many reporting agencies, due to a lack of funding and a congressional logjam over several other issues including immigration reform, the federal debt and a new farm bill. Agencies viewed as essential will remain open such as the
U.S. feeder cattle ease on overbought signals
Chicago Mercantile Exchange (CME) feeder cattle futures eased from a one-year high on Wednesday on overbought signals and despite another slide in corn prices that had been encouraging demand for young cattle, traders said. Feeder cattle had soared to the highest price for a spot contract (158.4 cents per pound) since June 15 last summer
CME feeder cattle reach one-year high as corn falls
Chicago Mercantile Exchange (CME) feeder cattle futures rose to a one-year high on Tuesday in reaction lower cash corn prices and corn futures, traders said. An expected bumper U.S. corn harvest should drive down feed costs for cattle and increase demand for young cattle to place in the nation’s feedlots, traders said. “Demand for feeders
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