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Tuesday, 14 May 2013 02:14
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CHICAGO: Chicago Board of Trade corn and soybean price spreads reached multi-month highs on Monday as razor thin supplies at country elevators and processors forced traders to cover short positions before May contracts expire.The front-month Chicago Board of Trade May corn contract rallied to a premium of 57-1/2 cents compared with the July contract, the biggest inverse in the market since Jan. 8. The premium for CBOT May soybeans peaked at $1.44 higher than CBOT July, the highest since Feb. 22.There have been no deliveries of either commodity during the May futures delivery period which began on April 30, underscoring the tight supply of physical corn and soybeans in the country.Without the ability to make deliveries, short-covering is the only option for traders who must exit futures positions before expiration at noon CDT (1700 GMT) on Tuesday."As long as cash is high, and no deliveries, you just continue to put ...
CHICAGO: Chicago Mercantile Exchange (CME) feeder cattle futures rose on Friday, led higher by deferred contracts, on expectations for lower cattle feed costs following a government forecast for a big build in corn supplies, traders and analysts said.The US Department of Agriculture (USDA), in its May supply and demand report released on Friday, forecast a 164 percent increase in the supply of corn next year in the United States due to an expected record crop ...
SYDNEY: US soybeans fell on Wednesday for the first day in three and after gaining more than 1 percent in the previous session, as traders squared positions ahead of the release of the US Department of Agriculture's monthly crop report.Wheat fell for the second consecutive session, weighed down by improved crop conditions, though losses were capped by forecasts for further cold weather across the US Plains.FUNDAMENTALSChicago Board Of Trade May wheat fell 0.42 to $7.05-3/4 ...
SYDNEY: US corn edged lower on Wednesday, after recording its biggest daily gain in over a month in the previous session, as traders readied for the latest US Department of Agriculture monthly crop report.Soybeans retreated after firming more than 1 percent on Tuesday, while wheat extended declines to a second straight session as improved crop conditions weighed on the grain, though the losses were capped by forecasts for further cold weather across the US Plains.Chicago ...
SYDNEY: US soybean futures fell on Wednesday as traders squared positions after gains the day before on concerns over port congestion in Brazil, but trading was muted ahead of a US Department of Agriculture report.Corn also dropped, extending losses into a second session on expectations the USDA will forecast bumper planting intentions by farmers. Wheat slid, giving back some of its gains from Wednesday.Chicago Board of Trade May soybeans had eased 0.17 percent to $14.45-1/4 ...
SINGAPORE: London copper was steady on Tuesday, erasing earlier gains as a flurry of technical buying faded and as traders cut risk on worries that strict terms on a bailout for Cyprus may serve as a template for Europe.Copper's rebound from seven-month lows below $7,500 a tonne reached last week has started to sputter on worries over bank runs spreading through Europe, while fundamental demand remains modest from top consumer China.Three-month copper on the London ...
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