CHICAGO (Reuters) – The shipping season on the upper Mississippi River will end on Thursday as ice surrounding locks and dams near Minnesota’s Twin Cities forced the earliest winter closure on records that date back to 1969, the U.S. Army Corps of Engineers said.
“There’s so much ice through the whole system,” said Bryan Peterson, navigation manager for the Army Corps’ St. Paul district. “They’re getting the barges they can out and not risking getting stuck there all winter.”
CHICAGO, Nov 19 (Reuters) – U.S. ethanol futures
tumbled more than 7 percent on Wednesday after the Energy
Information Administration pegged production of the grain-based
biofuel last week at the second highest level on record.
The EIA said ethanol production in the week ending Nov. 14
averaged 970,000 barrels per day, the highest rate since the
record production of 972,000 bpd in the week of June 13.
CHICAGO, Nov 18 (Reuters) – U.S. grain and soybean futures
eased on Tuesday, with corn on pace for its worst slump in
nearly two months as investors took profits and record-large
corn and soybean harvests neared completion.
Chicago Board of Trade corn futures lost ground for the
third straight session while wheat eased for the second day.
Each contract declined following three-month highs last week.
Soybeans reversed from gains earlier in the session.
“When the market breaks like this, it tells me that buyers
have enough for now,” said Dave Fogel, a broker at Advance
Record export demand for soybeans and soymeal and strong
domestic demand for corn from ethanol producers helped limit the
declines, while bitter cold in the United States could damage
emerging wheat plants.
“We’ll find good support from end users and funds defending
their long positions,” Jefferies Bache analyst Shawn McCambridge
said of the corn pit. “I just don’t see heavy sellers coming
into this market.”
CBOT December corn was down 5-1/2 cents at $3.72 per
bushel and January soybeans were off 14-3/2 cents at
$10.21-1/2 as of 11:20 a.m. CST (1720 GMT).
CBOT December wheat fell 5-1/4 cents to $5.46-3/4
after the contract had its best week last week in two years.
The U.S. Agriculture Department said after the close of
trading on Monday that the corn harvest was 89 percent complete
and the soy harvest 94 percent complete, with cuttings of each
crop mostly on pace with recent years after a slow start.
The corn harvest lagged in the northern Corn Belt states of
Michigan, Wisconsin and portions of Minnesota, where snowfall
could delay the final phases of autumn fieldwork, agricultural
“Despite those three places, harvest is essentially over,”
In wheat-growing regions in the U.S. Plains,
colder-than-normal conditions could persist for the next 10 days
before normal temperatures return, the Commodity Weather Group
CHICAGO, Nov 17 (Reuters) – U.S. soybeans trimmed early
losses and turned higher on Monday after government and private
reports showed larger-than-expected demand for the beans from
exporters and crushers.
Wheat and corn futures each fell more than 1 percent at the
Chicago Board of Trade, pressured by disappointing international
demand for U.S. grain.
CHICAGO/LONDON, Nov 5 (Reuters) – Pasta lovers are not
savoring the lowest wheat prices in years.
This year’s wheat harvest was the biggest ever, but the
durum crop – the type of wheat used for pasta – was the smallest
in 13 years. As a result, makers of the Italian cuisine staple
face the highest costs in four years for the prized wheat
variety milled into the semolina flour that makes pasta noodles.
CHICAGO, Oct 31 (Reuters) – U.S. soymeal shrugged off early
losses to gain 2 percent on Friday, on course for its biggest
monthly gain since 1976, as short-term supply strains in the
United States continued to fuel buying.
Soybeans were also higher, following gains in soymeal, while
wheat and corn futures declined on pressure from multiyear highs
in the dollar that made the crops less competitive in global
CHICAGO, Oct 30 (Reuters) – U.S. soymeal futures fell 2.7
percent on Thursday, heading for their biggest daily losses in
two months as investors locked in profits after prices for the
protein-rich animal feed soared to a seven-week high.
Soybean futures shed 1 percent, while corn was roughly
unchanged following a spike in sales by U.S. farmers, who were
harvesting record-large crops. A slow start to the autumn
harvest and light farmer offerings had propped up grain prices
to multiweek highs earlier in the session.
CHICAGO, Oct 29 (Reuters) – U.S. soymeal surged 7 percent on
Wednesday, increasing this week’s gains to the largest in six
years as a slow start to a record soybean harvest coupled with
slow traffic on the nation’s railroads forced crushing plants to
cover short cash positions in the futures market.
Soybeans jumped nearly 3 percent and corn 1.8 percent, with
each futures contract pushed higher by the gains in soymeal.
CHICAGO, Oct 28 (Reuters) – U.S. soybean futures pared gains
after rising to a nearly two-month high on Tuesday after a rally
fuelled by soaring soymeal prices sparked a round of farmer
sales and investor profit taking.
Soybean and soymeal futures each traded in both
positive and negative territory in volatile dealings at the
Chicago Board of Trade. A record-large U.S. soy harvest started
to gain steam after a slow start, replenishing supplies that had
run short at domestic processing plants.
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.