WASHINGTON, May 11 (Reuters) – U.S. corn and soybean futures
fell on Monday, pressured by expectations that a government
report will show the pace of planting of both commodities was
well ahead of the typical schedule.
Wheat futures were mixed, with hard red winter wheat
contracts supported by concerns about the crop in the U.S.
Plains following a tour of key production areas last week. Soft
red winter wheat and spring wheat futures closed lower.
CHICAGO, May 8 (Reuters) – U.S. wheat futures rose on
Friday, supported by results from an annual crop tour that
projected below-average yields in Kansas, the top production
state for the grain, traders said.
End-of-week short covering and some bargain buying following
a 1.4 percent decline on Thursday also buoyed prices.
CHICAGO, May 7 (Reuters) – U.S. corn and soybean futures
fell on Thursday, pressured by forecasts for wet and warm
weather in the Midwest that will foster early development of
both crops in the coming weeks, traders said.
Wheat futures also dropped after a sharp rally on Wednesday
despite reports of poor yields from a crop tour of Kansas.
CHICAGO, May 6 (Reuters) – U.S. wheat futures surged 2.7
percent on Wednesday, bouncing back from near five-year lows on
disappointing results from a crop tour and a crumbling U.S.
dollar, traders said.
The wheat gains, the most since April 1, spilled into the
corn market, which also benefited from slow farmer selling on
the cash market. Soybeans weakened on a round of technical
selling after prices hit a two-month high early in the session.
CHICAGO, May 5 (Reuters) – U.S. wheat futures sank 1.3
percent on Tuesday, flirting with five-year lows after rain in
key production areas boosted harvest prospects as the crop nears
maturity, traders said.
Poor export demand for U.S. supplies and strong yield
projections from early results of a crop tour through Kansas
also pressured the market.
CHICAGO, May 4 (Reuters) – U.S. soybean futures rose 1.3
percent on Monday, following a sharp rally in soyoil that
stemmed from talk of rising demand on the export market.
“I’ve heard some talk that China has an increased appetite
for (soy)oil, said Bill Gentry, broker at Risk Management
Associates. “That has given some value add to (soybeans).”
CHICAGO, April 10 (Reuters) – U.S. wheat futures rose 1.5
percent on Friday on a round of short-covering by speculators
after price declines in three of the previous four sessions,
“The big short contingent in the wheat market is definitely
something to be reconciled with,” said Bill Gentry, a broker at
Risk Management Commodities in Lafayette, Indiana. “We have seen
a fair amount of short-covering but there’s still more cleaning
up to do.”
Corn and soybeans were slightly lower, anchored by ample
domestic supplies, while huge crops from South America lowered
demand for U.S. offerings on the export market. Soybeans
remained stuck near six-month lows.
For the week, front-month Chicago Board of Trade wheat
futures were down 1.9 percent, soybeans were down
3.5 percent, and corn was down 2.8 percent.
At 10:36 a.m. CDT (1536 GMT), CBOT May wheat was up
7-3/4 cents at $5.26-1/2 a bushel.
Some lingering concerns about dry conditions in the U.S.
Plains also supported wheat prices despite forecasts for
much-needed rains across much of the growing belt in the next
Crop woes in parts of the Black Sea region added to the
A government source in Ukraine said on Friday the country’s
wheat crop could drop to about 20 million tonnes from 24.1
million last year due to the effect of poor autumn weather plus
less use of fertilizer by cash-strapped farmers in the war-torn
CBOT May soybeans were down 1/4 cent at $9.53-1/4 and
CBOT May corn was down 2 cents at $3.76 a bushel.
The Brazilian government’s crop supply agency, Conab,
raised its forecast for the mostly harvested 2014/15 soybean
crop to 94.28 million tonnes on Friday from the 93.26 million
tonnes forecast in March. It also raised its corn production
view to 78.99 million tonnes from 78.21 million tonnes.
Dry weather forecast for Argentina was expected to allow
farmers there to speed through the end of their harvest and add
to the already ample global supply base.
“Both of these South American countries are bringing in
record harvests, which are just now coming onto the market,”
Commerzbank analysts said in a note.
WASHINGTON, April 9 (Reuters) – The U.S. government raised
its outlook for domestic corn supplies by less than expected on
Thursday, while its lowered projection for soybean ending stocks
was in line with market forecasts.
Corn stocks for the end of the 2014/15 marketing year were
seen at 1.827 billion bushels, 50 million bushels more than the
U.S. Agriculture Department projected in its March supply and
demand report. The bump came from a cut to usage in the feed and
residual category, as market watchers had expected.
CHICAGO, April 7 (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,
“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 at U.S. Commodities in West
Des Moines, Iowa. “I think that is a weight on the market.”
CHICAGO, April 6 (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.