Americas
Thursday, 11 April 2013 01:43
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CHICAGO: US wheat prices took the biggest hit from the US Agriculture Department's forecasts for global grain and soy supplies as larger-than-expected wheat stocks sent the Chicago futures down nearly 1.7 percent.The benchmark Chicago Board of Trade May soft red winter wheat contract, which was trending lower in choppy trade throughout the morning, initially turned higher after the report as traders reacted to a spike in corn prices and a domestic wheat stocks figure that was close to trade expectations.But the market quickly took a negative turn as traders focused on the bearish global supply figures. Prices for May CBOT wheat hit their session low of $6.88 a bushel, down 20-3/4 cents, just three minutes after the report was released. MGEX spring wheat and Kansas City Board of Trade hard red winter wheat also retreated to session lows.CBOT May wheat closed down 12 cents at $6.96-3/4 on Wednesday while ...
CHICAGO: US wheat, corn and soybeans weakened early on Wednesday in choppy trading ahead of a monthly US Department of Agriculture supply-and-demand report.Declines in corn were limited by short-covering as investors unwound bearish bets placed on the commodity at the end of last month."Corn is having a little bit of a short-covering bounce. I think that continues right up until the report's release," Brian Hoops, president of Midwest Market Solutions, said. "I think you could ...
SANTIAGO: Workers at the world's biggest copper producer, Codelco, began a 24-hour strike Tuesday demanding better conditions, a union spokesman said."Work throughout Codelco has been paralyzed. Work at private mining companies has also halted," Jorge Varas, spokesman for the Federation of Copper Miners (FTC), told AFP. Chile produces a third of the world's total copper output. Codelco alone is responsible for 10 percent of global production.Workers at other important foreign-owned mines, including Minera Escondida operated ...
CHICAGO: Early corn plantings will be delayed in the drought-stricken US Midwest because of cool temperatures and significant rainfall next week that will also add valuable soil moisture, agricultural meteorologists said on Friday. They said parts of the Plains hard red winter wheat region will also benefit as dry soils remain a problem in parts of the western and northwestern Midwest and the southwestern Plains following the worst drought in more than 50 years last ...
CHICAGO: The daily trading limit for Chicago Board of Trade corn futures and options will revert to 40 cents a bushel for Tuesday's session, while limits for oats will widen, CBOT's parent CME Group said on Monday.The daily limit in corn was expanded to 60 cents for Monday's trade after the nearby May and July futures contracts fell to the 40-cent limit on Thursday in response to bearish US government grain stocks data.CBOT May corn ...
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