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Tag Archives: corn

Oil & Agricultural Markets Start Week Strong, Metal Market Doesn’t Join

Crude oil started the week on a strong footing, reversing its previous losses. September contract for WTI crude climbed 1.27% to $69.56 per barrel as of 10:26 GMT on NYMEX today. Brent grade edged up 0.4% to $74.59 per barrel on ICE. Grains also rallied. Wheat was especially strong amid concerns that dry hot weather in various growing regions across the world can damage the crop. Contract for delivery of wheat...

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Agricultural Commodities Under Pressure, Livestock Trade Higher

Grains and softs were under pressure on Monday due to the threat of a full-scale trade war between the United States and China. Rains in parts of the USA also hurt some commodities, particularly cotton. Futures for delivery of cotton dropped as much as 2.31% to $0.8777 per pound as of 20:30 GMT on ICE today. September contract for corn slid 1.42% to $3.655 per bushel on CBoT. Wheat...

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Wheat, Corn Futures Pare Impressive Gains After USDA Report

Wheat futures are paring their impressive gains from Tuesday as they have tumbled as much as 3% midweek. One day after the US government reported tighter supplies of both corn and wheat, investors sold off the commodities and took profits. July wheat futures plummeted $0.145, or 2.71%, to $5.1975 per bushel at 15:34 GMT on Wednesday on the Chicago Board of Trade (CBoT). On Tuesday, wheat prices settled at their best levels in two weeks and they are up nearly 15% year-to-date. July corn...

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Wheat Rallies on Weather Concerns, Corn & Soybean Drop

Futures for wheat rallied today amid concerns about impact that weather may have on winter crop. Prices for corn and soybean declined. Market participants worried that drought in parts of the United States may hurt yield. Weather in Russia was also adverse to the crop. Meanwhile in Australia, the worst drought in years made 2017–18 output the lowest in a decade. Traders watched for trade talks between...

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Grains Mixed After USDA Report, Livestock Gains

Prices for corn and wheat fell, while soybean prices increased, following the release of the World Agricultural Supply and Demand Estimates from the US Department of Agriculture. Of the special note was the forecast that US exports of soybeans will increase to 2,290 million bushels for 2018–19, up 225 million from 2017–18. Market analysts were very skeptical of the forecast due to the threat...

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Grains Rally on Weather, Subsiding Fears of Trade Wars

Grains rallied across the board today, joining other agricultural commodities in a rally. Analysts named various possible reasons for the rally. Some market analysts mentioned subsiding fears of trade wars between the United States. Previously, there were concerns that potential tariff hikes from China would hurt the US agricultural market as the USA export many of their agricultural products, most notable of them being soybeans,...

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USDA Production Report Hurts Corn, Cotton, Soybeans; Helps Orange Juice

The US Department of Agriculture released its crop production report today. The data was bearish for several agricultural commodities, including corn, soybeans, and cotton. In fact, the last one fell by the exchange limit. Yet the same report was beneficial to orange juice, very likely due to the damage done by Hurricane Irma. The USDA predicted that corn production will be at 14.2 billion bushels in 2017, up...

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US Grains Continue March Upward

Concerns about above-norm temperatures and below-normal precipitation in northern growing regions of the United States of America continued to drive prices for US grains higher. Additionally, Friday’s report from the US Department of Agriculture continued to affect the market. The report showed that US farmers reduced the amount of wheat planted for the fourth year in a row,...

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Grains Rally on Worries About Drought, USDA Acreage Report

Futures for wheat jumped by the exchange limit on the Chicago Board of Trade, and corn and soybeans also rallied. Prices climbed amid concerns that drought in parts of growing regions of the United States may damage crops. The acreage report from the US Department of Agriculture also affected the prices. The USDA reported that area planted by wheat in 2017 was at 45.7 million acres, down 9%...

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Wheat Futures Plummet as Commodity Selling Weighs on Contract

Wheat prices are plunging on Thursday as commodity selling is weighing on the contract. A new government data report found that the winter wheat crop in Kansas is in poor condition. Whether this will affect wheat prices throughout June or not remains to be seen. July wheat futures plummeted $0.0775, or 1.81%, to $4.215 per bushel at 16:39 GMT on Thursday on the Chicago Board of Trade (CBoT). Wheat prices have...

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