CHICAGO: Chicago Board of Trade corn futures were expected to open 8 to 10 cents per bushel lower Wednesday on pressure from long-liquidation and profit-taking ahead of Federal Reserve Chairman Ben Bernanke's first ever news conference on Wedensday following a two-day Fed policy meeting.
* Heavy rainfall and flooding over the next 10-days in the eastern and southern US Midwest will continue to slow corn seeding while the northwest Midwest does not appear to be as wet.
* The CME Group Inc has proposed increasing the daily trading limit for CBOT corn futures to 50 cents per bushel from the current 30 cents, the exchange said.
* Taiwan Sugar Corp will tender on Wednesday to buy 23,000 tonnes of US corn and 12,000 tonnes of US soybeans, US traders said.
* The US Environmental Protection Agency does not plan to change its biofuel mandate despite corn prices that have risen to record levels, said Lisa Jackson, its administrator.
* US Gulf FOB export premiums steady to firm late on Tuesday, supported by a firm CIF barge market as high water on the Midwest rivers restricted the flow of grain to Gulf elevators.
* May contract on Tuesday closed above short-term support at its 10-day ma $7.50-1/4.
Comments
Comments are closed for this article.