WASHINGTON–Corn supplies in the U.S. will be larger than expected thanks to weakening foreign demand, the U.S. Department of Agriculture said Friday. Domestic stocks of corn will reach 632 million bushels by the end of the 2012-13 marketing year, the USDA said in its monthly World Agricultural Supply and Demand Estimates report. That’s a [...]
Market news – Corn Falls to 3-Week Low on Slowing U.S. Exports; Soybeans Drop
Corn fell to a three-week low on signs of slowing overseas demand for supplies from the U.S., the world’s biggest exporter. Soybeans also dropped. Sales of corn for delivery before Aug. 31 totaled 12.23 million metric tons as of Nov. 29, down 46 percent from a year earlier, U.S. Department of Agriculture data show. Premiums paid for [...]
Market news – Oil Rises First Time in Five Days on China Crude Imports
Oil rose for the first time in five days as China’s net crude imports climbed to a six-month high in November and German exports unexpectedly increased. Prices advanced from a three-week low as China bought the equivalent of 5.68 million barrels a day more than it exported, the most since May. German exports gained in October [...]
Market News – Traders Eye Grain Prices Rebound as Supply Set to Tighten.
Grain prices that tumbled in recent weeks may rebound as demand stays robust while global stockpiles tighten after drought hurt crops from the U.S. to Russia. Corn on the Chicago Board of Trade, the global benchmark, has slipped 13 percent since reaching a record $8.49 a bushel on Aug. 10, and wheat traded in Paris is down 4.8 [...]
Market News – Crude Inventory report –
*DJ DOE: US Crude Oil Stocks +1.994 Mln Bbl At 359.092 Mln Bb *DJ DOE: US Heating Oil Stocks +0.093 Mln Bbl At 28.837 Mln B
Commodities Headed For Bull Market As U.S. Drought Withers Crops
Commodities are poised to enter a bull market led by surging grain futures amid the worst U.S. drought in half a century and on mounting optimism growth in the U.S. and stimulus from China will boost demand. The Standard & Poor’s GSCI gauge of 24 raw materials rose as much as 1.2 percent to 677.29 in London, the highest since [...]
Market News – USDA Cuts Forecasts for US Corn and Soybeans!
WASHINGTON–Drought in much of the Midwest is taking a sharp toll on corn and soybean yields, according to the U.S. Department of Agriculture, which on Wednesday cuts its forecasts for production this year. The average corn yield this year, USDA said in its monthly supply and demand report, is now estimated to be 146 bushels [...]
Market news – Sugar Bulls Strongest In Six Months On Brazil Rain: Commodities
Sugar traders are the most bullish in six months after prices moved to within three percentage points of exiting a year-long bear market as rain delayed cane processing in Brazil, the biggest producer. Nine of 11 analysts surveyed by Bloomberg said they expect raw sugar to keep rallying next week and two were bearish, the highest proportion [...]
Market News – Payrolls In U.S. Rose 80,000 In June; Jobless Rate 8.2%
Employers in the U.S. hired fewer workers than forecast in June, showing the labor market is making scant progress toward reducing joblessness. Payrolls rose 80,000 last month after a 77,000 increase in May, Labor Department figures showed today in Washington. Economists projected a 100,000 gain, according to the median estimate in a Bloomberg News survey. [...]
Market News – Crop Traders Bullish For Ninth Week On U.S. Drought
Soybean and corn traders are bullish for a ninth week on mounting concern that dry weather will cut U.S. crop yields at a time when hedge funds are adding to wagers on higher prices. Twenty-three analysts surveyed by Bloomberg said they expect soybeans to climb next week and three were bearish. A further four were neutral. Twenty [...]