Michael's Feed
Oct 3, 2014

Soy falls on big yields, heads for gain on harvest delays

CHICAGO, Oct 3 (Reuters) – U.S. soybeans edged lower on
Friday, losing ground for the first time in three sessions on
pressure from impressive yield results during the early days of
a record harvest.

But prices for the oilseed were on track for a modest weekly
gain at the Chicago Board of Trade after rains delayed fieldwork
in the Midwestern crop belt during the latter half of the week.

Oct 1, 2014

Corn, soy rebound on short-covering after multiyear lows

CHICAGO, Oct 1 (Reuters) – U.S. corn and soybeans edged
narrowly higher on Wednesday as investors covered short
positions after prices fell to multiyear lows earlier in the
session and while rains stalled record harvests in the
Midwestern crop belt.

Wheat futures also were higher, stabilizing after their
four-year low reached last week. The gains followed the U.S.
Agriculture Department’s largely bearish quarterly stocks and
small grains summaries that were released on Tuesday.

Sep 30, 2014

Soybeans set for biggest quarterly loss in 6 years on supply pressure

CHICAGO, Sept 30 (Reuters) – U.S. soybeans eased 1 percent
on Tuesday, giving back most of their gains from the previous
session and heading for their biggest quarterly loss in six
years, sapped by the prospect of a record U.S. crop and a surge
in the dollar.

Wheat also fell sharply while corn was narrowly lower as
investors squared books in the final trading day of the third
quarter and awaited a quarterly stocks report from the U.S.
Department of Agriculture due at 11 a.m. CDT (1600 GMT).

Sep 29, 2014

Corn, soy rebound after multiyear lows on record U.S. harvest

CHICAGO, Sept 29 (Reuters) – U.S. corn and soybeans edged
higher on Monday, rebounding from their multiyear lows reached
earlier in the trading session amid the advancing harvest of
record crops and a continuing dollar rally that dented export
hopes.

Wheat futures also were mostly higher at the Chicago Board
of Trade after the dollar trimmed gains against a basket
of other currencies. Plentiful global grain supplies and a
surging greenback have made U.S. corn and wheat less competitive
in top export destinations in Asia, Africa and the Middle East.

Sep 26, 2014

Corn, soy at fresh 4-year lows on accelerating US harvest

CHICAGO, Sept 26 (Reuters) – U.S. corn and soybeans extended
losses to reach fresh four-year lows on Friday as weather
conditions remained ideal for record harvests in the Midwestern
crop belt while new highs in the dollar made the supplies less
competitive in global markets.

Wheat futures were narrowly higher, pressured by prospects
of a record global crop this season.

Sep 25, 2014

US river freight system near breaking point as huge harvest looms

CHICAGO, Sept 25 (Reuters) – With a record U.S. harvest just
coming in, the river transportation system that is at the heart
of the nation’s farm economy is overstrained by rising demand
for shipping capacity, a low barge inventory, and a dilapidated
lock system.

The pressure is building on an inland waterways network that
is just one flood, drought or mechanical breakdown from calamity
after decades of neglect, industry sources say.

Sep 23, 2014

U.S. soybean cash premiums collapse on record harvest

CHICAGO, Sept 23 (Reuters) – Cash prices for U.S. soybeans
have dropped by as much as $5 per bushel since last week as
processors have slashed historically high bids for the beans
during the early phases of a record harvest, grain merchants and
analysts said on Tuesday.

Soybean prices that reached nearly $15 per bushel at a
closely watched crushing plant in Claypool, Indiana, last week
were about $9.80 on Tuesday for immediate deliveries, with
further declines expected in the so-called “basis,” or the
amount above or below benchmark Chicago Board of Trade soy
futures that buyers are willing to pay.

Sep 22, 2014

Soybeans, corn hit 4-year lows on record supplies; wheat erases gains

CHICAGO, Sept 22 (Reuters) – U.S. corn and soy futures
tumbled to four-year lows on Monday, pressured by favorable
weather for record harvests in the United States and a rising
dollar that made the supplies less competitive in global
markets.

Chicago Board of Trade wheat futures also were lower,
erasing gains in sympathy with declines in corn and soy. Wheat
prices had been higher earlier in the session after the main
buying agency for top global importer Egypt purchased U.S.
supplies for the first time since March.

Sep 4, 2014

Corn, soy fall to 4-year lows ahead of record harvests

CHICAGO, Sept 4 (Reuters) – U.S. corn and soybeans futures
fell more than 1 percent to their lowest levels in four years on
Thursday in a technical selloff sparked by the looming harvest
of record-large crops.

Wheat futures also were mostly lower after notching contract
lows in the previous session. The dollar climbed to its
highest point in more than a year against a basket of other
currencies, further weighing on U.S. grains as importers could
more cheaply source supplies priced in other currencies.

Sep 3, 2014

Corn, soy tumble to contract lows on record U.S. yield prospects

CHICAGO, Sept 3 (Reuters) – U.S. corn and soybean futures
fell as much as 3 percent on Wednesday after the government
unexpectedly lifted condition ratings for the crops and analysts
increased outlooks for what already were expected to be
record-large harvests in the United States.
Wheat futures also fell, with prices extending early losses
after no U.S. supplies were offered in a tender to top global
importer Egypt. A rising U.S. dollar was also bearish as
international buyers can source cheaper grain from other
shippers in the European Union and Black Sea region.
“We’re pricing in bigger crops before the next report,” said
Global Commodities Analytics analyst Mike Zuzolo, referring to
the U.S. Agriculture Department’s monthly supply and demand
report due on Sept. 11.
In a report after the close of trading late on Monday, USDA
increased so-called good-to-excellent ratings for the corn and
soybean crops, surprising analysts, who had expected steady
ratings.
Brokerages INTL FCStone and Allendale Inc also boosted yield
and production forecasts above the most recent USDA outlook.

Mild summer weather was a boon to the crops, Allendale Inc
analyst Rich Nelson told the Thomson Reuters Global Ag Forum.
“Across the board, the numbers were impressive. This year’s
pollination was one of the coolest of the past 30 years,” he
said.
Most-active Chicago Board of Trade December corn was
down 9-3/4 cents, or 2.7 percent, at $3.54 per bushel, just
above its contract low of $3.53-1/2 reached earlier in the
session. Benchmark November soybeans were down 17-1/2
cents, or 1.7 percent, at $10.14-1/2 as of 11:10 a.m. CDT (1610
GMT) after earlier falling to a contract low of $10.12-1/2.
CBOT wheat for December delivery was 17-3/4 cents, or
3.2 percent lower, at $5.37-1/2, near its earlier contract low
of $5.36-1/4.
The main buying agency for top wheat buyer Egypt announced
that it bought two cargos of wheat – one from France and one
from Romania. No U.S. wheat was offered with freight costs
making supplies from the United States uncompetitive to many top
buyers of the grain in Africa and the Middle East.
“Wheat demand is not showing up and the market is seeking
new lows to find demand,” Zuzolo said.