CHICAGO, Feb 27 (Reuters) – Crop insurance price guarantees
for U.S. corn, soybeans and spring wheat in 2015 will fall 10
percent or more based on futures settlement prices for February,
grain analysts said on Friday.
The U.S. Department of Agriculture’s (USDA) Risk Management
Agency (RMA), which oversees the multibillion-dollar crop
insurance program, by law uses the average price in February for
harvest-time grain futures contracts to set the “floor”
price that private insurers must guarantee farmers who sign up.
CHICAGO, Feb 26 (Reuters) – Chicago soybean futures rose on
Thursday on uncertainty over the Brazilian trucker strike, which
threatens to stall movement of the new harvest of the grain onto
the world market, traders and analysts said.
Chicago corn and wheat also ended higher, tracking the
strength in soybeans.
Chicago Board of Trade March soybeans ended 16-1/4
cents, or 1.6 percent, higher at $10.24 a bushel.
CHICAGO, Feb 25 (Reuters) – Chicago Board of Trade soybeans retreated on
Wednesday from a six-week high on prospects for a Brazilian truck drivers’
strike to end soon, a situation that has threatened exports just as the
country’s massive soybean crop is entering world markets.
CBOT wheat fell as U.S. wheat remained too pricey in world markets and
continued to miss out on big tenders. The exception was Egypt buying 290,000
tonnes of U.S. wheat on Tuesday, but the purchase was financed with U.S. credit.
CHICAGO, Feb 12 (Reuters) – The average price of quality
U.S. farmland fell 3 percent in 2014, marking the first annual
decline in almost 30 years, the Federal Reserve Bank of Chicago
said in its quarterly survey of district bankers on Thursday.
“The District’s annual decrease of 3 percent in good
farmland values for 2014 was the first loss for a year since
1986,” the bank said in its survey of 224 regional farm banks in
the north-central United States, the main production area for
corn, soybeans and hogs. “Still, at the end of 2014 the index of
inflation-adjusted agricultural land values for the District was
68 percent higher than at its 1979 peak from the 1970s boom.”
CHICAGO, Feb 6 (Reuters) – U.S. soybeans and corn turned
lower on Friday as a jump in the dollar on strong employment
data spurred technical selling in the grains, traders said.
Additionally, forecasts of record soybean production in
South America and a large corn harvest continue to overhang
CHICAGO, Feb 5 (Reuters) – The boisterous world Kevin Duffy
entered 34 years ago to run paper slips into trading pits at the
Chicago Board of Trade was an age apart from today, when
open-outcry trading only intermittently disrupts the quiet hum
The Chicago corn market was a noisy, bruising, frantic place
where traders and commercial brokers establish prices for future
deliveries of grain. Trading on the CBOT had a self-descriptive
moniker: “open outcry.”
CHICAGO, Feb 4 (Reuters) – U.S. soybean futures fell 1.5 percent on
Wednesday, retreating from a three-week high notched Tuesday as the dollar rose,
Outlooks for the driest areas of Brazil’s crop region calling for rain this
week and the falling crude oil market also hurt soy prices.
CHICAGO, Feb 3 (Reuters) – U.S. Corn Belt farmers on Tuesday
actively sold corn and soybeans for the first time this year
amid a healthy increase in futures prices, cash merchandisers
“There were a lot more sales than what I’ve seen in a couple
weeks,” said J.R. Kennedy, general manager with Snittjer Grain
Co in Wellsburg, Iowa.
CHICAGO, Feb 3 (Reuters) – U.S. wheat and soybean futures
rose more than 2 percent early Tuesday on a short-covering
bounce after a month-long price slide that was stirring fresh
export interest, traders said.
A broad-based advance in commodity markets led by crude oil
also provided support.
“After five days of declines in beans it’s short covering
that is leading beans higher,” said Terry Reilly, a grains
analyst with Futures International in Chicago.
“You are also seeing short covering in wheat from a whole
round of fresh export tenders across the globe plus unfavourable
winter wheat conditions in selected states,” Reilly added.
Traders said Chicago grain markets were long overdue for a
rebound. When Chicago Board of Trade March soybeans broke
through nearby resistance of $9.77-3/4 – a double-top notched in
January – technical buying was triggered, they said.
CBOT March soybeans were up 22 cents, or 2.3 percent at
$9.81-1/2 a bushel by 10:16 a.m. CST. CBOT March wheat was
12-3/4 cents higher, or 2.6 percent at $5.05-1/2. CBOT March
corn was up 8-1/2 cents, or 2.3 percent at $3.78-1/4,
riding on the coattails of soybeans and wheat, traders said.
Open interest in soybeans and wheat rose sharply on Monday,
up 9,100 contracts in soybeans and nearly 11,000 in wheat – a
sign both markets were oversold after falling to the lowest
levels since the autumn.
With wheat trading near four-month lows, exporters have seen
a pick-up in demand, traders noted. Egypt’s GASC on Tuesday
bought 300,000 tonnes of Romanian and French wheat for shipment
during first-half March. Saudi Arabia purchased
690,000 tonnes of hard wheat via a tender on Monday.
Iraq is seeking a minimum of 50,000 tonnes of
“The weak euro is still providing strong support for EU
exports. To take one example, a French ship is currently taking
on board a consignment of (feed) wheat for Bangladesh – the
largest quantity the country has ordered since 2000/01,”
Commerzbank said in a market note.
“European wheat is looking pretty cheap and there is not
much concern at the moment about the state of any of the wheat
crops in the northern hemisphere,” said Paul Deane, senior
agricultural economist at ANZ Bank in Melbourne.
Wheat futures in Paris were also higher with March
up 1.5 percent, or 2.75 euros, at 185.75 euros a tonne.
Prices at 10:16 a.m. CST (1616 GMT)
LAST NET PCT
CBOT corn 378.25 8.50 2.3%
CBOT soy 981.50 22.00 2.3%
CBOT meal 336.90 9.00 2.7%
CBOT soyoil 30.73 0.32 1.1%
CBOT wheat 505.50 12.75 2.6%
CHICAGO, Jan 28 (Reuters) – U.S. grain farmers are boosting
demand for loans from farm banks as five-year lows in crop
prices squeeze operating budgets ahead of spring planting,
according to a national survey of farm bankers issued by the
Federal Reserve Bank of Kansas City on Wednesday.
“Reduced profits in the crop sector persisted in the fourth
quarter of 2014, leading to a sharp rise in farm-sector
borrowing and a slight decline in cropland values,” the bank
said. “Should low crop prices and high input costs persist, crop
sector profit margins may weaken further and strain loan
repayment capacity in the coming year.”