CHICAGO, July 26 (Reuters) – Widespread rains last weekend
in the U.S. Corn Belt sparked a record drop in cash corn and
soybean prices – a wave of declines that triggered a steep fall
in futures at the Chicago Board of Trade this week, grains
traders and analysts said.
Cash premiums for corn and soybeans that slowly rose to the
highest levels ever in the wake of last summer’s drought fell 20
percent this week, with farmers selling old-crop supplies as
damp and cool weather benefited the developing new crop.
CHICAGO, July 25 (Reuters) – U.S. cash corn bids fell hard
from record-high levels on Thursday as a big drop in Chicago
futures markets encouraged farmers to sell what remained of last
year’s harvest, analysts and grain merchants said.
However, strong demand by ethanol plants should prevent cash
bids from falling much more, they said.
CHICAGO, July 25 (Reuters) – Record-high cash bids for corn
in the United States were starting to show signs of cracking on
Thursday, but strong demand from ethanol plants was likely to
prevent a wave of declines that were seen this week in the
soybean market, analysts and grain merchants said.
Good profit margins for makers of the grain-based fuel
additive allowed ethanol plants to bid as much as $2 per bushel
above Chicago Board of Trade corn futures, or $7 a bushel,
and still make money, analysts said. Grain buyers have ratcheted
up so-called basis bids to lofty levels this summer as supplies
dwindled to a 16-year low after last year’s drought.
CHICAGO, July 9 (Reuters) – Last year’s U.S. drought, the
worst since the Dust Bowl, is delivering its final sting to
major grains buyers like Archer Daniels Midland, Bunge
Ltd and Cargill Inc, who are paying record-high
premiums for dwindling supplies of last year’s crops.
Premiums at the moment are as high as $1.75 a bushel above
benchmark futures prices on the Chicago Board of Trade, which
have been depressed by signs of a record harvest this coming
autumn. The most active agriculture contract, December corn
, hit a two-year low last week near $4.90 a bushel.
CHICAGO (Reuters) – Andrew Shaw’s goal in triple overtime sealed a marathon 4-3 victory for the Chicago Blackhawks over the Boston Bruins as the Stanley Cup Finals opened with a Game One thriller on Wednesday.
The game was the first between the two Original Six franchises in a Stanley Cup Final and the teams dished up more than four hours of high drama before Shaw scored on a double-deflection off Michal Rozsival’s blast from the blueline.
CHICAGO, June 12 (Reuters) – Time is running out to complete a deal that would see the National Hockey League free players for the Sochi Olympics, commissioner Gary Bettman said on Wednesday.
Speaking before the opening game of the Stanley Cup finals in what has become his annual state of the league address, Bettman fielded a wide-range of questions but the most-far reaching centered on the league’s Olympic future.
(Reuters) – The Mississippi River was reopened on Thursday along a five-mile stretch near St. Louis as waters receded after one of the worst floods on record halted barge traffic for four days on the main route to global markets on the U.S. Gulf Coast.
The U.S. Coast Guard allowed southbound river traffic to resume along a five-mile stretch of the Mississippi that had been closed since Monday, said Colin Fogarty, a public affairs officer at the agency.
CHICAGO, May 24 (Reuters) – U.S. lumber futures fell nearly
2 percent on Friday, capping their deepest streak of losses in
1-1/2 years as a resurgence in the domestic housing market was
overshadowed by plunging wood exports from the U.S. West Coast,
Benchmark prices for the building material dipped
below the threshold of $300 per thousand board feet for the
first time since October at the Chicago Mercantile Exchange and
have declined more than 25 percent since notching an eight-year
high of $400.80 per tbf in February.
CHICAGO, May 14 (Reuters) – U.S. corn yields are unlikely to
reach their full potential this year as the slowest planting
pace on record shortens the growing season, increasing risks
that plants will pollinate under peak summer heat, agronomists
said on Tuesday.
“We have taken some off of our yield potential,” said
Emerson Nafziger, extension agronomist at the University of
Illinois. “Our preference is to have it in the ground by May 1.”
CHICAGO, April 26 (Reuters) – U.S. soybean crushers are
running at reduced capacities and bidding record premiums for
beans from tight-fisted farmers as demand for protein-rich
animal feed has shown few signs of slowing down amid port
congestion during bumper harvests in South America, processors
and traders said on Friday.
Big processors such as Archer Daniels Midland Co,
Bunge Ltd and Cargill Inc that crush soybeans
and then sell meal and oil have struggled to buy beans from
farmers who refuse to sell any leftovers from last year as a
price hedge against the possible return to drought conditions.