U.S. soybean futures hit a three-week high on Monday as adverse weather threatened production in Argentina and southern Brazil, two of the world’s top suppliers, but prices later slipped on spillover pressure from sinking corn and wheat prices. The first U.S. wheat purchase by Egypt’s state buyer since April fuelled early gains, but prices turned […] Read more
U.S. soybean futures gain one per cent
ADM makes play for Australia’s Graincorp
U.S. agriculture giant Archer Daniels Midland raised the stakes in the global race for grains trading power on Friday, by seeking talks to buy smaller Australian shipper GrainCorp to build up its platform in Asia. While several of Illinois-based ADM’s up-and-coming rivals have focused on big deals in North America, ADM CEO Patricia Woertz’s potential […] Read more
U.S. corn eases on harvest pressure, soybeans level
U.S. corn futures fell 1.2 per cent on Friday as the Midwest harvest progressed at a record pace and after private forecaster Informa Economics raised its yield and production estimates for the drought-hit 2012 U.S. crop. Soybean futures finished unchanged as support from solid demand, including China buying 180,000 tonnes, faded amid pressure from a […] Read more
U.S. soybeans rally on damage to canola crop
U.S. soybeans rallied 1.5 per cent on Thursday, gaining for a second straight day on evidence of strong export demand after prices tumbled to a three-month low — and on a surprise drop in the size of Canada’s canola crop due to weather damage. Soybeans were also boosted by investors shedding their dollar holdings in […] Read more
U.S. soybeans rebound in technical bounce
U.S. soybean futures rebounded from a three-month low on Wednesday in a technical-buying and bargain-hunting bounce after tumbling nearly US$3 a bushel from record highs set a month ago. Soybeans had slumped to just above US$15 a bushel, dragged down by persistent reports of higher-than-expected yields and fund liquidation. But buy-stops kicked in, sending the […] Read more
U.S. soybeans hit three-month low on harvest pressure
U.S. soybean futures fell for a second straight day on Tuesday, sliding nearly two per cent to a three-month low as the record-fast U.S. harvest and better-than-expected yields weighed down prices along with spillover pressure from plunging palm oil prices. Soybeans had pared early-session lows as the steepest two-day drop in two weeks triggered light […] Read more
U.S. soybeans fall on active harvest in Midwest
U.S. soybean futures tumbled more than 2.5 per cent on Monday, reversing similar gains from the previous session, as a record-fast harvest pace and reports of larger-than-expected yields pressured prices. Wheat futures dropped two per cent, the fifth decline in six sessions, in a profit-taking setback and as rain forecast for the drought-parched U.S. Plains […] Read more
U.S. corn, wheat fall to multi-month lows
U.S. corn futures fell to a three-month low on Thursday and wheat slid to a 2-1/2 month low, both sinking for a fourth straight day, pressured by technical selling and fund liquidation ahead of a government grain stocks report on Friday. Soybeans eased, weighed down by spillover pressure from sinking grains, although worries about tight […] Read more
U.S. lean hogs jump to one-month peak on firm cash
U.S. lean hog futures jumped to a one-month high on Friday on positioning ahead of a government cold storage report and as firming cash markets and tightening hog supplies extended the strongest two-week rally since June. Live cattle futures traded mixed as investors squared positions and moved to the sidelines ahead of the U.S. Agriculture […] Read more
U.S. soybeans drop on profit-taking, recent rains
Soybean futures fell for a third straight day on Friday and snapped a five-week winning streak, as investors banked profits and recent rains in the farm belt looked set to help some of the crop recover from the worst drought in half a century. A lower-than-expected U.S. production forecast from closely-followed analytical firm Informa Economics […] Read more