08292016Mon
Last update: Mon, 29 Aug 2016 08am

Americas

Markets - Commodities - Americas

Soy drops on technical sales, harvest view; corn, wheat weak CHICAGO: US soybean futures eased 1.6 percent on Thursday, retreating from a recent export-driven rally amid technical sales and huge crop expectations, traders said. Wheat and corn futures also weakened, but short-covering limited the sell-off in grains as investors unwound bearish bets. Rain in key US growing areas that removed some lingering doubts about crop development also contributed to the weakness in soybeans. "We have got some weather moving through the Midwest that is finishing up the bean crop," said Dan O'Bryan, a risk management specialist and broker at Top Third Ag Marketing. At 10:36 a.m. CDT (1536 GMT), Chicago Board of Trade November soybean futures were down 16-1/4 cents at $9.99-3/4 a bushel. Soybean prices firmed slightly during overnight trading to a four-week high, but a wave of technical selling pushed prices lower after the November contract failed to break through the high end of its 20-day Bollinger range, ...

Markets - Commodities - Americas

US Cash Grains-Soybean bids mainly steady to firmer; corn mostly flat CHICAGO: Spot soybean basis bids on Thursday at elevators and processors around the US Midwest were generally steady to firmer, and mostly unchanged for corn, as futures for both grains slipped, said merchants.The prospect of a huge US harvest sparked Chicago Board of Trade soybeans selling that spilled over into corn futures.Increased demand from some processors supported some soybean bids while sufficient supplies of the product kept a lid on corn bids.Thursday morning's US Department ...

Markets - Commodities - Americas

US soybeans ease after rally to 4-week top, wheat falls SINGAPORE: Chicago soybeans slid on Thursday as the market took a breather after climbing to a four-week high on the back of strong purchases by top importer China.Wheat fell about half a percent in early Asian trade, while corn was little changed after rising marginally in the last session.Copyright Reuters, 2016 ...

Markets - Commodities - Americas

Raw sugar drops 3pc on weak Brazil currency, higher output NEW YORK/LONDON: Raw sugar futures slid 3 percent on Wednesday, breaking a three-session winning streak as the currency in top grower Brazil weakened and the government there revised its production forecast upward.Cocoa futures extended gains to one-month highs, after briefly paring gains on producer selling, while the New York September/December spread widened to a contract low ahead of the spot contract's first notice day on Thursday. Coffee prices fell to multi-week lows on weakness in ...

Markets - Commodities - Americas

CBOT soybeans rise on fresh export deal, soyoil rally CHICAGO: US soybean futures rose to their highest in nearly four weeks on Wednesday on signs that strong export demand would mitigate the bearish impact of what is expected to be a record-large soybean harvest in the coming weeks.A sharp rally in the soyoil market, keyed by strength in palm oil futures, added to the strength in soybeans.The US Agriculture Department said on Wednesday private exporters reported the sale of 381,000 tonnes of soybeans to ...

Markets - Commodities - Americas

CBOT wheat firms as traders cover shorts CHICAGO: US wheat futures rose on Wednesday on a short-covering bounce, traders said.Gains in higher-protein K.C. hard red winter wheat and MGEX spring wheat outstripped strength in the benchmark Chicago Board of Trade soft red winter wheat contracts .CBOT September soft red winter wheat, the most-active contract, found support from early weakness at its 30-day moving average.CBOT September wheat failed to hold support above its 40-day moving average and closed below session highs. The contract ...

Markets - Commodities - Americas

CBOT corn extends win streak 4th day on technical buying, soy gains CHICAGO: Chicago Board of Trade corn futures rose for the fourth session in a row on Wednesday, their longest streak of positive closes since early June, following the soybean market higher.Technical buying helped to support the market after prices for the benchmark December contract dipped below the 20-day moving average.Traders also said that investment funds were actively covering short positions as expectations for a record US crop have already been dialed into the market.CBOT corn ...