Agriculture
All three commodities benefited from short covering as prices have fallen sharply during the past two weeks. "More than anything, it was just short covering," said Karl Setzer, market analyst for MaxYield Co-operative. "We really kind of pounded the grains last week. We have ever since we came out with the (quarterly) stocks report."
- Wheat Imports From Pakistan May Climb To Highest In Five Years
Wednesday, July-10-2013 Wheat imports by Pakistan, Asia?s third-largest producer, may climb to the highest level in five years after a declined in the harvest boosted local prices, according to a traders group. ?We may import up to 500,000 tons of wheat...
- Malaysian Palm Oil Futures Rose
March 21, 2013Malaysian palm oil futures rose to a one-week high on Wednesday on higher export demand, although gains were curbed after Cyprus's rejection of a proposed bailout plan led to worries of a default. But palm prices were supported by Malaysian...
- Canadian Canola Futures Mixed
ICE Canadian canola futures finished mixed on Monday, pressured in thin trading volume by late commercial hedges against farmer cash sales. Farmers seen making deliveries of old-crop canola. But supplies remain tight, and old-crop May and July were steadier...
- Palm Oil Moves Up
Malaysian palm oil futures rose to a one-week high on Thursday, drawing support from expectations of a bullish industry report and a lower palm oil inventory level, although gains were curbed by investor caution. Traders are looking ahead to Friday's...
- Us Wheat Futures Fall
US wheat futures fell on Friday on continued pressure from storms in the US Plains that provided relief to the drought-stricken hard red winter wheat crop, traders said. Wheat prices closed at their session lows on a round of late selling as investors...
Agriculture
US Soyabean Futures Rose
US soyabean futures rose on Monday, snapping a streak of three straight negative sessions, on technical buying and worries that delays in the South American harvest will further slow delivery of supplies from Argentina and Brazil, traders said. The soyabean market found support from bargain-hunters after prices on Friday dropped to their lowest level since June.
Wheat futures rose due to strong global demand for US supplies as well as concerns about potential damage to the developing crop in the US Plains from forecasts for a turn to colder weather.
Wheat futures rose due to strong global demand for US supplies as well as concerns about potential damage to the developing crop in the US Plains from forecasts for a turn to colder weather.
Corn futures edged higher as wet weather in key growing areas across the US Midwest threatened to delay the start of planting this week in places such as Illinois and Iowa.
All three commodities benefited from short covering as prices have fallen sharply during the past two weeks. "More than anything, it was just short covering," said Karl Setzer, market analyst for MaxYield Co-operative. "We really kind of pounded the grains last week. We have ever since we came out with the (quarterly) stocks report."
Chicago Board of Trade May soft red winter wheat futures ended 13-1/2 cents higher at $7.12-1/2 a bushel. Prices rose through resistance at the 30-day moving average early in Monday's session, the first time prices surpassed that benchmark since the US Agriculture Department's bearish quarterly stocks report on March 28.
Hard red winter wheat futures at the Kansas City Board of Trade and MGEX spring wheat also posted strong gains. China bought 14 to 16 cargoes of US wheat on Thursday for delivery from June to December, the China National Grain and Oils Information Center, an official think tank, said on Monday. The announcement confirmed rumours that supported wheat prices last week.
"China's wheat purchase and ongoing US/global crop concerns have the wheat complex supported across the board," Matt Zeller, director of research at INTL FCStone, said in a research note to clients.
CBOT May soyabeans were 16-1/4 cents higher at $13.78 a bushel. Traders noted some technical buyers entered the market when prices fell near the low end of their 20-day Bollinger range of $13.54-1/4 a bushel during the overnight session. CBOT May corn was 4-1/2 cents higher at $6.33-1/2 a bushel, lagging the gains in soyabeans and wheat due to the unexpected abundance of supplies reported by the USDA in the quarterly stocks report.
Hard red winter wheat futures at the Kansas City Board of Trade and MGEX spring wheat also posted strong gains. China bought 14 to 16 cargoes of US wheat on Thursday for delivery from June to December, the China National Grain and Oils Information Center, an official think tank, said on Monday. The announcement confirmed rumours that supported wheat prices last week.
"China's wheat purchase and ongoing US/global crop concerns have the wheat complex supported across the board," Matt Zeller, director of research at INTL FCStone, said in a research note to clients.
CBOT May soyabeans were 16-1/4 cents higher at $13.78 a bushel. Traders noted some technical buyers entered the market when prices fell near the low end of their 20-day Bollinger range of $13.54-1/4 a bushel during the overnight session. CBOT May corn was 4-1/2 cents higher at $6.33-1/2 a bushel, lagging the gains in soyabeans and wheat due to the unexpected abundance of supplies reported by the USDA in the quarterly stocks report.
Source: http://www.brecorder.com
- Wheat Imports From Pakistan May Climb To Highest In Five Years
Wednesday, July-10-2013 Wheat imports by Pakistan, Asia?s third-largest producer, may climb to the highest level in five years after a declined in the harvest boosted local prices, according to a traders group. ?We may import up to 500,000 tons of wheat...
- Malaysian Palm Oil Futures Rose
March 21, 2013Malaysian palm oil futures rose to a one-week high on Wednesday on higher export demand, although gains were curbed after Cyprus's rejection of a proposed bailout plan led to worries of a default. But palm prices were supported by Malaysian...
- Canadian Canola Futures Mixed
ICE Canadian canola futures finished mixed on Monday, pressured in thin trading volume by late commercial hedges against farmer cash sales. Farmers seen making deliveries of old-crop canola. But supplies remain tight, and old-crop May and July were steadier...
- Palm Oil Moves Up
Malaysian palm oil futures rose to a one-week high on Thursday, drawing support from expectations of a bullish industry report and a lower palm oil inventory level, although gains were curbed by investor caution. Traders are looking ahead to Friday's...
- Us Wheat Futures Fall
US wheat futures fell on Friday on continued pressure from storms in the US Plains that provided relief to the drought-stricken hard red winter wheat crop, traders said. Wheat prices closed at their session lows on a round of late selling as investors...