Chicago | Reuters — U.S. corn and soybean futures eased on Tuesday on pressure from abundant global supplies and weakening demand for U.S. offerings on the export market, traders said. “The world supplies are still large. The crop in South America continues to grow as harvest continues to progress in Argentina,” said Don Roose, analyst […] Read more
U.S. grains: Soy falls for third day in a row
U.S. grains: Technical sales, rain outlook pressure wheat
Chicago | Reuters –– U.S. wheat futures fell on Monday on a round of technical selling after posting their biggest weekly gain in 3-1/2 months, traders said. Corn and soybean futures also were weaker, pressured by robust global supplies and profit taking after posting modest gains during the overnight trading session. Wheat futures, which had […] Read more
U.S. grains: Wheat hits six-week high on dry weather worries
Chicago | Reuters — U.S. wheat futures jumped to their highest level in six weeks on Thursday on worries that rains in the U.S. Plains next week will be insufficient to relieve intensifying drought conditions. Traders kept their eyes on weather forecasts after dryness in key parts of the Plains, including Nebraska and Oklahoma, sparked […] Read more
U.S. CFTC sues Kraft, Mondelez over alleged wheat price manipulation
Reuters — The U.S. Commodity Futures Trading Commission on Wednesday charged Kraft Foods Group and Mondelez International with manipulation of prices of wheat used in products such as Oreo and Chips Ahoy cookies. The regulator alleged that Kraft and Mondelez bought $90 million of wheat futures, or a six-month supply, but never intended to take […] Read more
U.S. grains: Soy extends rally sparked by plantings report
Chicago | Reuters — U.S. soybean futures jumped 1.6 per cent on Wednesday, their third straight day of gains, as the U.S. government’s forecast for smaller-than-expected plantings of the oilseed continued to fuel buying. Corn and wheat also rose, rebounding from sharp losses on Tuesday as bargain buyers stepped in despite huge global supplies. A […] Read more
U.S. grains: Corn hit by one-two punch of plantings, stocks data
Chicago | Reuters –– A double-whammy of U.S. crop reports pegging corn plantings and inventories above traders’ estimates knocked down grain futures on Tuesday and fuelled forecasts for further price declines. Taken together, the data lifted expectations for corn supplies after U.S. farmers brought in a record harvest last year, signalling a boon for livestock […] Read more
U.S. grains: Wheat up four per cent on dry Plains conditions
Chicago | Reuters — Chicago Board of Trade wheat futures rose more than four per cent on Monday as dry conditions in parts of the U.S. Plains, coupled with hot weather this week, prompted investors to cover positions, traders said. Corn followed wheat up and soybeans closed fractionally higher as traders focused on a pair […] Read more
U.S. grains: Wheat rebounds ahead of USDA reports
Chicago | Reuters — U.S. wheat climbed as much as two per cent in a bargain-buying bounce on Friday, rebounding after three sessions of steep declines that dragged futures into technically oversold territory. Soybean and corn futures each were lower at the Chicago Board of Trade (CBOT) with investors in all three trading pits squaring […] Read more
U.S. grains: Wheat down most in nearly two years on dollar rebound
Chicago | Reuters –– U.S. grain and soybean futures reversed early gains to turn lower on Thursday on pressure from a higher dollar, with wheat’s three-session decline of more than six per cent the biggest such slide in nearly two years. The U.S. dollar, which rose in a rebound from a three-week low, makes goods […] Read more
Falling Canadian dollar can affect wheat basis
Reading Time: < 1 minute Take into account the exchange rate when comparing basis, says a provincial market specialist. Since the ICE Canada futures is not actively traded, the grain trade uses the Minneapolis Hard Red Spring wheat futures for hedging Canadian hard red spring wheat, said Neil Blue. A recent elevator quote had hard red spring wheat basis at […] Read more
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