Tuesday, 30 August 2011 01:44
Posted by Abdul Ahad
CHICAGO: US soybean futures rose 2 percent on Monday, supported by concerns that dry weather in the US Midwest will push this year's harvest below expectations.
"This is the time of the year that beans need the rain to put on the pods and fatten up the ones that are there already," said Jerod Leman, a broker with Wellington Commodities Corp in Indiana.
New crop corn futures hit a contract high during overnight Globex trading but prices closed near session lows amid a late round of soybean/corn spreading. Corn demand from the livestock and ethanol sectors remained robust despite the strong prices.
The front-month soybean contract, which enters delivery later this week, hit its highest level in more than six months and corn's nearby contract was at its highest point since mid June.
"There is more fund money coming in, everyone is still concerned about the yields and beans need some rain," said Paul ...
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CHICAGO: US soybean futures rose 2 percent on Monday, supported by concerns that dry weather in the US Midwest will push this year's harvest below expectations.
"This is the time of the year that beans need the rain to put on the pods and fatten up the ones that are there already," said Jerod Leman, a broker with Wellington Commodities Corp in Indiana.
New crop corn futures hit a contract high during overnight Globex trading but prices closed near session lows amid a late round of soybean/corn spreading. Corn demand from the livestock and ethanol sectors remained robust despite the strong prices.
The front-month soybean contract, which enters delivery later this week, hit its highest level in more than six months and corn's nearby contract was at its highest point since mid June.
"There is more fund money coming in, everyone is still concerned about the yields and beans need some rain," said Paul ...
WINNIPEG: ICE Canada canola futures climbed on Monday as spillover support from buoyant US grains and crude oil attracted fund buying to canola and pushed the market to an eight-week high, traders said.
* Technical-following funds seen buying about 3,000 canola contracts, adding to net long position.
* Reports of disappointing canola yields in some areas adding support, but harvest pressure likely to cap upside this week - traders.
* November canola futures rose $12.20 or 2.2 percent ...
NEW YORK: Cotton volume fell on Monday to its lowest level in almost 20 months, preliminary Thomson Reuters and ICE Futures US exchange data showed on Monday.
Volume traded on the cotton market reached a little over 4,500 lots, preliminary Thomson Reuters data said. ICE Futures US data showed that would be the lowest level traded since Dec. 24, 2009.
Copyright Reuters, 2011
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NEW YORK: Gold prices tumbled 2.7 percent on Monday, giving back the previous session's gains as fears of a new recession receded, while oil prices rose and corn soared to contract highs on crop concerns.
US stocks rallied as a merger between two big banks in Greece suggested Europe was working through its financial problems, while a rebound in US consumer spending calmed fears about the health of the world's biggest economy.
The Reuters-Jefferies CRB index, ...
NEW YORK: COMEX copper fell moderately on Monday, reversing earlier gains, when the dollar turned positive following a strong US personal spending reading, but selling was limited as the industrial metal found support from a rallying US stock market.
Moves were limited in both directions by light volumes with the London Metal Exchange closed by a bank holiday and New York desks thinly staffed following a hurricane wracked US East Coast.
The benchmark US September copper contract ...
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PARIS: European wheat futures rose on Monday to their highest in more than two months, buoyed by a corn-led rally in US markets, but waned after Chicago wheat futures failed to confirm the rise at the open.
* German cash prices stayed firm as rain continued to mar the harvest.
* US corn and soybean futures rose on Monday, supported by concerns that the harvest ...
CHICAGO: Grain markets have been given a shot in the arm by the possibility of another US economic stimulus from the Federal Reserve, whose $600 billion bond-buying exercise lit a fire under commodity markets.
Fed Chairman Ben Bernanke left the dollar open to such a prospect in his closely watched speech in Jackson Hole, Wyoming the same location where a year ago he signalled the launch of QE2, a second round of quantitative easing, that ended ...
