GFM Network News

Corn slides to three-year low as bumper crop outlook weighs

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 […] Read more

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 […] Read more

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. […] Read more

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 […] Read more

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 […] Read more

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 […] Read more

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 […] Read more