CHICAGO, Jan 16 (Reuters) – U.S. soybean futures edged
higher on Thursday, buoyed by a strong government export report,
Corn was flat, with the market finding some technical
support after two straight days of losses erased 2 percent of
value. Concerns remained about overseas demand eroding due to
Chinese cancellations of shipments but the weekly export sales
report topped trade expectations.
“When we got to that $4.25 and held, we got a little
bounce,” said Jason Britt, president of Central States
Commodities. “We have found a place to stabilize and bounce back
Soybean buying was limited as a wave of profit-taking
following five straight days of gains kept a lid on potential
Wheat futures were close to unchanged, with the market
waiting to hear how many cargoes top buyer Egypt bought in their
At 10:49 a.m. CST (1649 GMT), Chicago Board of Trade corn
for March delivery was down 1/4 cent at $4.25-1/2 a
Export sales of corn were a better-than-expected 821,000
tonnes, the U.S. Agriculture Department said on Thursday
morning. USDA also confirmed cancellations of another
126,000 tonnes of U.S. corn to unknown destinations.
Soybean export sales were 701,500 tonnes in the latest
reporting week, up from a marketing year low 155,500 tonnes a
week ago. Separately, USDA also said that private
exporters reported the sale of 465,500 tonnes of soybeans to
CBOT soybeans for March delivery were up 1 cent at
$13.19 a bushel. Prices peaked at $13.30-1/2 a bushel, the
highest since Dec. 23, early in the session.
“China has been actively buying (from the United States)
again this week,” said Vanessa Tan, investment analyst at
Phillip Futures in Singapore. “The market was expecting that
China would buy from South America but they are not.”
CBOT March soft red winter wheat were down 1 cent at
$5.66-3/4 a bushel. Prices were finding support near the low end
of its 20-day Bollinger range.
Dealers said the market would keep a close watch on a wheat
tender issued by Egypt with results expected sometime after 1330
GMT on Thursday.
Egypt’s main wheat-buying agency, the General Authority for
Supply Commodities, is tendering to buy an unspecified amount of
wheat for shipment Feb. 15-28.
“Egypt is back in the market seeking supplies for late
February shipment. If a large purchase of U.S. wheat is observed
(which is possible), we might see some support come through for
CBOT futures,” said Luke Mathews, analyst with Commonwealth Bank
Prices at 10:50 a.m. CST (1650 GMT)
LAST NET PCT YTD
CHG CHG CHG
CBOT corn 425.50 -0.25 -0.1% 0.8%
CBOT soy 1319.25 1.25 0.1% 0.5%
CBOT meal 436.00 1.50 0.4% -0.4%
CBOT soyoil 37.72 -0.27 -0.7% -2.8%
CBOT wheat 567.25 -0.50 -0.1% -6.3%
CBOT rice 1565.00 1.00 0.1% 0.9%
EU wheat 192.25 -0.75 -0.4% -8.0%
CHICAGO, Jan 14 (Reuters) – U.S. corn futures fell 1.4
percent on Tuesday as traders locked in profit from the rally
that followed a surprise government cut to the U.S. harvest
Wheat futures also fell, pressured by ample global supplies,
but soybeans were firm as demand remained strong despite
forecasts for a huge South American harvest, traders said.
CHICAGO, Jan 13 (Reuters) – U.S. soybeans and wheat futures
rose on Monday, with a pickup in export demand supporting both
commodities, traders said.
Corn futures also closed higher, feeding off the strength of
soybeans and wheat, but gains were kept in check by
profit-taking following a 5 percent rally on Friday.
CHICAGO/QUITO, Jan 4 (Reuters) – Amazon.com founder
Jeff Bezos was airlifted from a cruise ship by the Ecuadorean
Navy after suffering a kidney stone attack in the Galapagos
Islands on New Year’s Day.
“Galapagos: five stars. Kidney stones: zero stars,” Bezos
said in an e-mail provided by Amazon in response to a Reuters
request for comment.
CHICAGO, Jan 3 (Reuters) – Bitter cold temperatures across
the U.S. Plains early next week will put some of the dormant
hard red winter wheat crop at risk of damage, particularly in
drier areas of the region, meteorologists and agronomists said
Low temperatures on Monday morning were expected to hit 5 to
15 degrees Fahrenheit below zero (minus 20.6 Celsius to minus
26.1 C) in parts of Kansas and Nebraska, cold enough to destroy
some crops through winterkill.
CHICAGO, Dec 27 (Reuters) – U.S. corn sales to China fell 85
percent last week, government data showed on Friday, as the
export market was roiled by Beijing’s tighter screening for an
unapproved strain of GMO corn.
Shippers have been forced to divert cargoes already on the
water destined for China, the world’s biggest consumer of feed
grain. Uncertainty over the government policy has cast a pall
over the entire market, limiting gains in futures and worrying
CHICAGO, Dec 27 (Reuters) – U.S. corn exports to China
slowed as Beijing continued to reject cargoes containing an
unapproved genetically modified strain, government data released
on Friday showed.
The U.S. Agriculture Department said that 204,600 tonnes of
U.S. corn was shipped to China this week, down 17 percent from a
week ago and the smallest amount since early November. The
cargoes to China accounted for about 15 percent of U.S. corn
CHICAGO, Dec 26 (Reuters) – U.S. corn futures fell 1.6
percent to a one-week low on Thursday, pressured by worries of
weakening demand for U.S. supplies from China, traders said.
Wheat and soybean futures also fell, with wheat hitting a
19-1/2 month low due to ample global stocks that weighed on the
export prospects for U.S. supplies. Soybeans dropped on
improving forecasts for crop development in Argentina.
CHICAGO, Dec 18 (Reuters) – U.S. wheat futures sank to their
lowest in 1-1/2 years on Wednesday, their fifth straight day of
declines, on poor export demand for U.S. supplies, traders said.
Soybean and corn futures edged higher as traders squared
positions ahead of the U.S. Federal Reserve’s decision on its
CHICAGO, Dec 9 (Reuters) – U.S. soybean futures rose 1.3
percent to a one-week high on Monday morning on strong end user
demand, traders said.
Corn futures were up slightly, supported by the gains in
soybeans, while wheat was steady to firm.