Chicago | Reuters — CME Group will shut its New York trading floor at year’s end as computerized trading claims another victim from the world’s old-school financial system. Options pits, where trades in commodities like gold, silver and oil take place face-to-face instead of electronically, will close a year after the CME shut most of […] Read more
CME to close New York trading floor in computers’ victory
U.S. grains: Soybeans set eight-month highs in comeback rally
Chicago | Reuters — U.S. grain futures jumped on short-covering and technical buying on Tuesday, with soybeans closing at eight-month highs after a see-saw session. Heavy buying by commodity investors helped drive the gains, with funds snapping up an estimated 15,000 soybean contracts and 20,000 corn contracts at the Chicago Board of Trade, traders said. […] Read more
U.S. grains: Soy dips as farmers are expected to expand plantings
Chicago | Reuters — U.S. soybean futures on Tuesday extended a setback from the nearly eight-month highs reached a day earlier, as wet weather fueled projections that farmers will plant more fields with the oilseed than previously expected. Rainy, cool conditions in the U.S. South and Midwest could prompt growers to switch one million to […] Read more
U.S. grains: Soybeans retreat from August peak
Chicago | Reuters — U.S. soybean futures slumped on Monday as traders took profits after prices reached their highest point since August on technical buying and last week’s government forecast for lower-than-expected plantings. Corn prices ended mixed as traders digested the U.S. Department of Agriculture’s (USDA) estimate for much larger-than-expected U.S. plantings of the yellow […] Read more
End of China’s corn stockpiling threatens global feed trade
Chicago | Reuters — Grain traders worried on Tuesday about the risk for reduced demand from China after the government said it would scrap its corn stockpiling program at a time when global markets are awash with excess supplies. Traders said importers in China would likely reduce purchases of farm products used to feed livestock, […] Read more
ADM suing CP over 2013-14 rail service disruptions
Chicago | Reuters –– Archer Daniels Midland has filed a lawsuit against Canadian Pacific Railway over service disruptions in 2013 and 2014 at crop-processing plants in North Dakota and Minnesota, alleging they stemmed partly from cost-cutting and the Canadian railroad’s pursuit of merger partners. Chicago-based ADM, one of the world’s largest grain traders and processors, […] Read more
U.S. grains: Soybeans set 2016 high on short-covering, export demand
Chicago | Reuters — Short-covering and hopes for improved export demand lifted U.S. soybean futures to three-month highs on Friday, marking the longest rally for the market’s most active contract in four years. Corn futures touched a two-week high on technical buying and export demand, capping the grain’s biggest weekly advance since December, while wheat […] Read more
U.S. grains: Weather fears, short-covering lift prices
Chicago | Reuters — U.S. grain futures edged higher Tuesday on concerns that unfavourable crop weather could threaten domestic production, as markets temporarily shook off the weight of massive global inventories. Technical buying and short covering ahead of a monthly U.S. Department of Agriculture report on Wednesday helped fuel the gains, traders said. Wheat traders […] Read more
U.S. grains: Hefty supply pushes soy to 10-week low
Chicago | Reuters — U.S. soybean futures fell on Friday, with the nearby contract touching its lowest level in more than 10 weeks, under pressure from hefty global supplies, while soybean meal futures approached a six-year low. Expanding inventories and concerns about sluggish demand also pushed front-month corn futures to their lowest price in more […] Read more
U.S. grains: Wheat lowest since June 2010 on bumper supplies
Chicago | Reuters — U.S. wheat futures sank to 5-1/2-year lows on Wednesday under pressure from large global supplies and sluggish demand, in the markets’ fifth consecutive session of declines. Corn and soybean futures each fell for a second day, pressured by the prospect of bumper crops in South America coming to market. Follow-through selling […] Read more
Cyber-Savvy Farmer
