Chicago | Reuters –– Chicago Board of Trade wheat futures jumped 2.3 per cent on Thursday, posting their third gain in the last four sessions as some weather concerns provided the impetus for traders to cover short positions. The forecast for more rain, which could slow the tail end of seeding in parts of the […] Read more
U.S. grains: Weather concerns prompt short-covering in wheat
U.S. grains: Wheat, soybeans sag after rally
Chicago | Reuters — U.S. wheat futures fell on Wednesday, shrugging off weakness in the dollar as investors locked in profits following two days of sharp gains, traders said. Soybean futures ended lower, too, pressured by commercial hedging after farmers booked sales on the cash market following a rally that pushed futures prices to their […] Read more
U.S. grains: Lower greenback sparks rally in wheat, corn, soy
Chicago | Reuters –– U.S. corn, soybean and wheat futures rallied on Tuesday, supported by a steep decline in the U.S. dollar that made all three commodities more attractive to investors looking for a hedge against inflation, traders said. Wheat notched the biggest gain, with the front-month Chicago Board of Trade (CBOT) contract surging 3.8 […] Read more
Prairie wheat bids fall as U.S. futures drop sharply
CNS Canada –– Cash bids for wheat on the Prairies were weaker during the week ended Friday, as a sharp drop in U.S. wheat futures weighed on prices. Average Canada Western Red Spring (CWRS) wheat prices were C$1 to $11 per tonne lower, with bids ranging from about $204 per tonne in north-central Saskatchewan to […] Read more
U.S. grains: Short-covering sparks rally in wheat
Chicago | Reuters –– U.S. wheat futures rallied 3.4 per cent on Monday, bouncing off of their lowest in nearly three weeks, on a round of short-covering, traders said. “Frankly this market was struggling to go down,” Arlan Suderman, senior market analyst at Water Street Solutions, said. “When you run out of sellers because they […] Read more
New Russian wheat tax puts exporters, traders on edge
Moscow | Reuters –– Russia approved the launch of a new wheat export tax from July 1, which traders say could threaten profits on advance contracts for the new crop if the rouble weakens in coming months. Russia’s government said Friday that the new tax was intended to stop exports surging if the rouble drops […] Read more
U.S. grains: Corn drops, soybeans rise on new biofuel targets
Chicago | Reuters –– U.S. corn futures fell on Friday and posted a second straight weekly decline after the U.S. government lowered its targets for ethanol blending and as corn export demand slumped for the crop harvested this autumn. Soybeans rose about one per cent, led by sharply higher soybean oil futures as the U.S. […] Read more
U.S. grains: Corn rebounds on short-covering, bullish ethanol data
Chicago | Reuters — U.S. corn futures on Thursday rebounded from a seven-month low after three days of declines in a short-covering bounce and following a government report showing higher ethanol output and lower stocks of the corn-based biofuel. Wheat futures were mixed as a weaker dollar and concerns about the outlook for crops in […] Read more
U.S. grains: Wheat sinks to two-week low on winter crop rating
Chicago | Reuters –– U.S. wheat futures fell for the third straight session on Wednesday, hitting a two-week low on big global supplies and a government report that pegged U.S. winter wheat crop ratings above market expectations. Corn also slumped to a seven-month low on spillover pressure from sinking wheat and positive U.S. crop ratings, […] Read more
U.S. grains: Wheat plunges on dollar rally, technical selling
Chicago | Reuters — U.S. wheat futures plunged more than four per cent on Tuesday as pressure from a strong dollar and technical selling outweighed concerns about crop damage due to heavy rain in the southern U.S. Plains. Corn prices slid about 1.5 per cent on spillover weakness from tumbling wheat and generally favourable crop […] Read more
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