Rains delaying U.S. corn planting pushed up corn futures on Friday and pressured deferred soybean futures amid expectations that farmers may switch some acres from the grain to the oilseed. Traders took notice of threats to corn planting as Commodity Weather Group indicated a larger portion of the Midwest than previously expected will probably receive
Corn rises as wetter forecasts threaten U.S. planting
U.S. soybeans, soymeal hit three-week high on tight supplies
U.S. soybean and soymeal futures jumped to three-week highs on Thursday on worries about tightening supplies and strong export demand, while corn futures dropped as traders shrugged off planting delays due to rain. Soybeans, which are crushed to make meal, extended recent gains on ideas export loading delays in Brazil could steer more global demand
Cargill profits sink as U.S. drought hits meat business
U.S. agrifood giant Cargill said on Tuesday that lingering pressure from a historic U.S. drought hurt its meat and grain operations, knocking quarterly earnings down 42 per cent. The worst drought in more than half a century last year devastated the corn harvest in the United States, the world’s top grain producer, and catapulted prices
U.S. corn quality concerns linger despite better test results
Reuters / The quality of last year’s drought-hit U.S. corn harvest remains under scrutiny because of worries about toxins that flourish in dry weather, despite improved test results for export shipments. The U.S. Grains Council, which works to promote exports, said in a report on Wednesday that 77.8 per cent of corn samples tested at
CBOT set to shorten U.S. grain trading day
The Chicago Board of Trade won regulatory clearance to shorten the trading cycle for U.S. grain markets after a move to extend activity hurt liquidity. CBOT, owned by CME Group Inc., said it will cut futures and options trading for crops such as wheat, corn and soybeans to 17.5 hours per session from 21 hours
CME pares back grain trading hours
CME Group Inc. said March 5 that it plans to pare its nearly non-stop trading cycle for grains and oilseeds to 17-1/2 hours per session after traders complained a move to extend activity had hurt liquidity. CME, owner of the Chicago Board of Trade, sought to shorten the trading day less than a year after
Tight supply outlook jolts U.S. corn
U.S. corn futures jumped on Friday on a tighter-than-expected supply outlook from the U.S. Department of Agriculture, while soybeans stumbled on a bigger-than-expected forecast. The split reaction came as USDA, in a monthly crop report, kept its forecast for supplies of both crops unchanged from February. Analysts polled by Reuters had expected the government to
U.S. soy, wheat jump on export sales, pre-report positioning
U.S. wheat rebounded on Thursday from a nearly nine-month low, while soybeans jumped on better-than-expected weekly export sales and expectations the government will tighten its supply outlook. Traders were buying back previously sold positions in soybeans amid expectations the U.S. Department of Agriculture, in a monthly crop report on Friday, will cut its estimate for
U.S. wheat, new-crop corn drop as weather improves
U.S. wheat and new-crop corn futures sank to their lowest level in nearly nine months on Wednesday as heavy snows eased dryness in key growing areas and boosted production estimates. Optimism for upcoming harvests soared after a storm dumped 13 to 25 cm of wet snow on the Midwest on Tuesday, the latest round of
U.S. wheat, new-crop corn hit eight-month lows on improved moisture
U.S. wheat and new-crop corn futures sank to eight-month lows on Monday as melting snow eased concerns about persistent dryness in key growing areas of the Great Plains. Dry weather linked to the worst U.S. drought in more than half a century has stressed hard red winter wheat since the crop was planted last fall
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