July 30th, 2012

Wheat futures are trading up Monday morning, lifted by higher corn prices and worries about reduced wheat harvests in key overseas regions.

In electronic trading, Chicago Board of Trade futures for September delivery are up 16 3/4 cents or 1.9% at $9.14 3/4 a bushel. Kansas City Board of Trade September wheat is up 13 3/4 cents or 1.5% at $9.19 3/4 a bushel. MGEX September wheat is up 9 3/4 cents or 1.0% at $9.81 3/4 a bushel.

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July 2nd, 2012

Corn futures for delivery after the next U.S. harvest rallied to the highest level in more than nine months on speculation a heat wave may hurt yields. Soybeans and wheat advanced.

Areas of Indiana, Illinois, Missouri and Kentucky were under heat advisories today as temperatures in some areas were forecast to top 100 degrees Fahrenheit (38 degrees Celsius), National Weather Service data show. About 71 percent of the U.S. Midwest is experiencing drier-than-normal conditions, according to data from the University of Nebraska at Lincoln.

“Conditions remain exceptionally hot and dry,” Luke Mathews, a commodity strategist at Commonwealth Bank of Australia, said by phone from Sydney today. “Yield potentials are declining daily and the inventory projections for 2012-2013 season are being cut quite drastically.”

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Soybean fundamentals remain strong

On June 26, 2012, in Soybean futures news report, by Infinity Trading

June 26th, 2012

Soybean futures prices began moving higher in July 2010, starting from about $9.50. July 2012 soybean futures reached a high of about $14.70 in late August 2011, declined to a low near $11.25 in mid-December 2011, and reached a high of $15.12 in early May 2012. Prices have been very choppy the past two months, but the July futures contract is now trading within about $.30 of the early May high. November 2012 futures prices have been lower than July futures, but have followed a similar pattern and are now trading at a contract high near $14.30.

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June 25th, 2012

Wheat Futures – European wheat futures soared Monday to trade at their highest point for more than 12 months, as concerns about dry weather in a key grain-growing area of the U.S. boosted sentiment on the continent.

At 1023 GMT, November Paris milling wheat futures traded up EUR4.50, or 2.1%, at EUR221.00 a metric ton, the new crop contract’s highest level since June 3 2011, having earlier hit an intra-day high of EUR222.75/ton.

FCStone Europe had placed initial resistance at EUR217/ton and EUR218.75/ton, with a successful breach of these levels opening the way for resistance at the June 2011 high of EUR220.50/ton, followed by EUR225.25/ton.

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CBOT Corn Futures Jumps More Than 6%

On June 26, 2012, in Corn Futures News Report, by Infinity Trading

June 25th, 2012

CBOT corn futures closed limit-up Monday after surging on concerns that hot and dry weather could damage the U.S. crop and shrink its yield.

Chicago Board of Trade corn futures for July delivery closed up 40 cents, or 6.8%, at $6.31 a bushel, a one-month high for the contract. December corn closed up 40 cents, or 7.2%, at $5.94 a bushel, the contract’s highest settlement since November.

Corn futures for September, March and May also ended the session limit-up.

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