Wednesday, 05 June 2013 02:35
Posted by Imaduddin
CHICAGO: Deferred US corn and soybean futures stumbled on Tuesday as forecasts for a pause in rainy weather raised expectations that farmers will follow through on plans for massive plantings.Traders are keeping a close eye on the weather because cool, wet conditions have slowed planting so far this spring, fueling fears that farmers would not plant as many acres as expected.The latest forecasts "suggest that we're going to catch up and we're going to get a lot of grain planted," said grain analyst Tim Hannagan of Walsh Trading."The planting window won't open all the way, but it's going to be about three-fourths open," he said.Chicago Board of Trade December corn, which represents the crop that will be harvested this autumn, fell 1.3 percent to $5.53 a bushel, after losing 1.3 percent on Monday. November soybeans slipped 0.7 percent to $13.16 a bushel.The US Department of Agriculture said in a weekly ...
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CHICAGO: Deferred US corn and soybean futures stumbled on Tuesday as forecasts for a pause in rainy weather raised expectations that farmers will follow through on plans for massive plantings.Traders are keeping a close eye on the weather because cool, wet conditions have slowed planting so far this spring, fueling fears that farmers would not plant as many acres as expected.The latest forecasts "suggest that we're going to catch up and we're going to get a lot of grain planted," said grain analyst Tim Hannagan of Walsh Trading."The planting window won't open all the way, but it's going to be about three-fourths open," he said.Chicago Board of Trade December corn, which represents the crop that will be harvested this autumn, fell 1.3 percent to $5.53 a bushel, after losing 1.3 percent on Monday. November soybeans slipped 0.7 percent to $13.16 a bushel.The US Department of Agriculture said in a weekly ...
WASHINGTON: The US government is working with private companies to develop a rapid test for genetically modified wheat in response to fears about an unapproved wheat strain, said Agriculture Secretary Tom Vilsack on Tuesday.Buyers in Asia and Europe have shunned US wheat since USDA announced last week that a strain of wheat, modified by Monsanto Co for herbicide tolerance, was found in an Oregon field. Genetically modified wheat is not approved for cultivation anywhere in ...
NEW YORK: Crude oil futures rose on both sides of the Atlantic on Monday, reversing the previous session's losses, on the back of weak US economic data that sent the dollar plunging and lifted oil prices. A supply outage in North Sea crude oil also helped maintain higher Brent crude oil prices earlier in the day. Oil producer Nexen said its North Sea Buzzard oilfield, which supplies Forties, the leading stream behind the Brent benchmark, ...
CHICAGO: US soybean futures climbed on Monday on concerns supplies will run short before the autumn harvest because of strong demand and late plantings, while corn futures sagged.Wet weather delaying the planting of soybeans and corn this spring will likely postpone the start of harvest, preventing farmers from replenishing inventories until later than previously expected.Supplies of soybeans, which are planted and harvested after corn, are tight following a devastating drought last year and amid robust ...
CHICAGO: Corn planting again slowed around the US Midwest during the past week, with the pace likely matching an 11-year low, as drenched fields prevented farmers from finishing up the tail end of their efforts, according to a Reuters poll on Monday.The rain also kept the soybean planting rate at the slowest in 17 years.Analysts were expecting soybean planting to be just 57 percent complete as of June 1, according to the average of 11 ...
CHICAGO US cash soymeal offers were steady to lower on Friday as selling of soybeans by farmers continued to weigh on the market, dealers said.Truck offers dropped $3 per ton in Iowa after falling $3 to $4 on Thursday, dealers said. Offers were mostly unchanged in Indiana and Minnesota.Soymeal demand from livestock and poultry producers was quiet, with domestic feeders keeping purchases hand to mouth given the hefty premium quoted for nearby supplies versus deferred ...
WINNIPEG: ICE Canada canola futures were mixed in early trading on Friday, while the nearby contract headed for weekly and monthly gains.New-crop canola declined, after late gains in the previous session that stemmed partly from concerns about rain delaying planting in Western Canada, traders said. The nearby contract rose slightly, amid tight supplies.July canola gained 90 cents to $646.40 per tonne on volume of 129 contracts by 8:20 a.m. CDT (1320 GMT).New-crop November canola, the ...
