Mark's Feed
Mar 8, 2011

Weather pressures soy; demand woes weigh on wheat, corn

CHICAGO (Reuters) – U.S. grain futures fell on Tuesday for a second straight day, pressured by a strong dollar and high oil prices, both of which could crimp demand.

Traders also were consolidating positions ahead of a U.S. Agriculture Department report that is expected to lift the soybean stocks forecast for the first time in 11 months.

Mar 7, 2011

Wheat, soy notch biggest drops in 2 weeks; corn weak

CHICAGO (Reuters) – U.S. grain futures tumbled on Monday as investors worried that surging oil prices may dent demand, while forecasts for rain in drought-hit areas of the southern Plains put additional pressure on wheat, which slid 3.8 percent.

Wheat and soybeans posted their biggest daily losses in percentage terms in about two weeks. It was the first drop in soybean prices in five trading sessions.

Jan 21, 2011

Tight stocks prompt heavy spec buying in corn, soy

CHICAGO (Reuters) – Large speculators boosted their net long positions in Chicago Board of Trade corn and soybean futures and options after the U.S. government forecast tight supplies of both commodities, according to Commodity Futures Trading Commission data issued on Friday.

The U.S. Agriculture Department on January 12 issued a stocks forecast that put soybean supplies at their lowest level in 40 years and corn stocks at their lowest since 1995, prompting heavy buying in the futures market. Corn prices rose 8.6 percent during the week ended January 18 while soybeans gained 4.7 percent.

Aug 10, 2010

U.S. wheat falls on domestic production outlook

CHICAGO (Reuters) – U.S. wheat futures at the Chicago Board of Trade fell on Tuesday as forecasts for large U.S. crop production weighed on prices following a run-up to two-year highs, traders said.

But expectations for sharp crop reductions in Russia and other countries in eastern Europe due to a severe drought continued to support prices, particularly in deferred months.

Jun 28, 2010

CME ups wheat storage rates by 3 cts under VSR plan

CHICAGO, June 28 (Reuters) – CME Group (CME.O: Quote, Profile, Research) said on
Monday it will raise storage rates on deliverable wheat
futures, the first move under its controversial variable
storage rate program designed to improve the performance of a
market that many traders view as broken.

The change, which will increase the maximum daily storage
rate for wheat by about 3 cents to about 8 cents per bushel per
month, takes effect on July 18. CME initiated the change
because of the wide carry between the July and September wheat
futures contracts.

Mar 12, 2010

Slow financial regulatory reform irks industry

BOCA RATON, Florida (Reuters) – The pace of financial regulatory reform remains slow even as the global economy struggles to recover from a crisis that many say was caused by inadequacies in the current system, attendees at an annual financial conference said this week.

Now 18 months after the financial crisis that sparked a global recession, frustration and anxiety over the ongoing uncertainty was palpable at the Futures Industry Association’s annual conference here.

Mar 11, 2010

CFTC to propose new co-location rule

, March 11 (Reuters) – U.S. regulators will
propose a rule, aimed at high-frequency traders, to ensure all
market participants have equal access to market data, the head
of the Commodity Futures Trading Commission said on Thursday.

“We are doing a proposed rule on co-location to best
promote … open access,” CFTC Chairman Gary Gensler told
reporters on the sidelines of the Futures Industry Association
annual conference. “If there are such facilities (we want to
ensure) that they be open and fair and consistent access.”

Mar 11, 2010

CFTC to propose equal access to co-location

BOCA RATON, Florida (Reuters) – U.S. regulators will propose a rule, aimed at high-frequency traders, to ensure all market participants have equal access to market data, the head of the Commodity Futures Trading Commission said on Thursday.

“We are doing a proposed rule on co-location to best promote … open access,” CFTC Chairman Gary Gensler told reporters on the sidelines of the Futures Industry Association annual conference. “If there are such facilities (we want to ensure) that they be open and fair and consistent access.”

Mar 11, 2010

CFTC head scolds Wall Street for resisting reforms

BOCA RATON, Florida (Reuters) – The head of the top U.S. futures regulator chided Wall Street on Thursday for resisting calls to make over-the-counter derivatives markets more transparent, arguing major reforms are required after the recent financial crisis.

Laying out his case for more oversight of the unregulated market he estimates is worth $300 trillion — arguments he has made repeatedly as lawmakers hash out reforms — Gary Gensler took financial firms to task for putting their shareholders ahead of the public interest.

Feb 16, 2010

CME distillers’ dried grains futures start in April

CHICAGO, Feb 16 (Reuters) – CME Group Inc <CME.O> will
launch futures contracts for distillers’ dried grains, a
byproduct of corn ethanol production that can be used to feed
animals, the exchange operator said on Tuesday.

Trading in the distillers’ dried grain contracts will start
on April 26.

“This product will enable our feed customers to directly
manage price risk of feed inputs that they haven’t been able to
before,” Tim Andriesen, CME Group managing director for
commodities, said in a statement.

    • About Mark

      "I cover grain futures out of Chicago, with a focus on the wheat market. Examining the effects of world crop production on prices and the vagaries of export demand for U.S. supplies takes up most of my time. Previously, I was a reporter on the equities desk in New York and I got my start as a news assistant in the Washington Bureau."
    • Follow Mark