U.S. soybean futures crawled higher on Wednesday as hot weather in the U.S. Midwest encouraged traders to expect a lower harvest outlook in a government report due on Thursday. Corn and wheat futures also rose in tentative trading in the run-up to the release of U.S. Department of Agriculture crop data. The U.S. crop production […] Read more
CBOT soy, corn, wheat edge up ahead of USDA harvest view
CBOT soybeans slip on hopes for rain in U.S. Midwest
U.S. soybean futures slipped on Tuesday on forecasts for modest rainfall that could bring some relief to crops stressed by recent dryness in the U.S. Midwest. Corn and wheat futures edged higher on positioning ahead of U.S. government crop reports due out on Thursday. The U.S. soybean crop is in its weather-sensitive, pod-setting stage of […] Read more
Profit-taking pressures U.S. crop futures
U.S. grain and soybean futures slid on Monday as traders took profits ahead of a government report that will update the outlook for U.S. harvests. Soybeans have pulled back 3.7 per cent since approaching an 11-month high last week on concerns that heat and dryness will damage the nation’s crop. Traders said they had priced […] Read more
Midwest ethanol plants reversing the trade flow of the Mississippi
With corn supplies at a 17-year low and harvest delayed, ethanol producers are outbidding southern corn buyers and sending a fleet of barges northward
Reading Time: 2 minutes The long reach of last summer’s U.S. drought has reversed the flow of the mighty Mississippi River — for corn, at least. In a rare move, corn-laden barges are heading north to Midwest ethanol plants from southern farms. Although a record harvest is expected this year, much of it will be late and, in the […] Read more
Cooler, wetter weather outlook drags on CBOT soybeans
U.S. soybean futures sank to a one-week low on Friday on forecasts for rain and cooler temperatures to relieve stressful crop conditions across the U.S. Midwest grain belt. Wheat and corn futures were mixed. Worries about crop damage from hot and dry weather have supported the soy market recently, with the new-crop November contract rising […] Read more
Study finds high-frequency trading not raising futures volatility
Volatility in futures contracts has remained largely stable in the face of increased participation from high-speed and algorithmic traders often blamed for roiling markets, according to a study issued on Tuesday. The study, released by the Futures Industry Association, examined volatility from roughly 2006 to 2011 in 15 futures contracts traded on platforms run by […] Read more
Zilmax halt fuels demand for rival cattle feed product
Merck’s decision to suspend sales of its Zilmax cattle feed additive has caused such a surge in demand for rival Eli Lilly’s Optaflexx that Lilly is telling some new customers it cannot immediately supply them, customers told Reuters. Zilmax became the focus of attention in the livestock industry after Tyson Foods saidn Aug. 7 it […] Read more
Dry, hot U.S. weather outlook ignites grain, soy rally
New-crop U.S. soybean futures soared their daily trading limit to an 11-month high on Monday, and corn reached a one-month peak above US$5 per bushel, as hot, dry weather threatened to cut crop yields in parts of the U.S. Midwest. Wheat jumped to its highest level in three weeks, buoyed by the sharp gains in […] Read more
Merck halts Zilmax sales, to study cattle feed additive
U.S. drugmaker Merck and Co. said on Friday it is temporarily suspending sales of its Zilmax animal feed additive in the U.S. and Canada following concerns about use of the product, which is given to cattle to increase their weight before slaughter. Zilmax has been the focus of attention in the livestock industry since Tyson […] Read more
Different method led to surprise cut in U.S. corn harvest forecast
Don’t consider the 1.3 per cent drop in the U.S. Department of Agriculture’s corn harvest forecast a cut. That was the message from Lance Honig, chief of the crops branch of the USDA’s National Agricultural Statistics Service, after the department sparked a rally in corn futures with a surprising reduction in its monthly outlook for […] Read more
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