corn futures brokers

corn futures brokers

September 17th, 2014

Corn futures fell for the first time this week in Chicago as farmers in the U.S., the world’s top grower, begin harvesting what’s expected to be the largest crop on record. Wheat also dropped.

Four percent of corn in the main U.S. growing area was harvested as of Sept. 14, in line with last year’s pace, the U.S. Department of Agriculture said two days ago. Farmers may collect 14.395 billion bushels this season, the most ever, the agency said last week. Futures have tumbled 19 percent this year. Frost in parts of the Midwest last weekend probably didn’t cause significant damage, and the region should experience a warming trend this week, forecaster DTN said today.

“The weather remains nearly perfect,” economist Dennis Gartman wrote in his daily Gartman Letter. “The harvest that is beginning in the South can and will be sped along.”

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November 8th, 2013

Corn futures fell, extending a slump to a 38-month low, on speculation that the government will forecast a bigger crop than estimated two months ago in the U.S., the world’s top leading producer. Soybeans gained.

The 2013 corn harvest may climb to a record 14.029 billion bushels, up 1.3 percent from the U.S. Department of Agriculture’s prediction in September and 30 percent more than 2012, a Bloomberg survey showed. The agency will update its forecasts at noon in Washington. Through yesterday, corn plunged 40 percent this year as crops recovered from drought last year.

“Corn prices will likely continue their gradual drift lower,” Chris Gadd, an analyst at Macquarie Group Ltd. in London, said in a report. “We expect the USDA to increase corn and soybean yields, raising corn production to record levels.”

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January 27th, 2012

Corn futures advanced, heading for the biggest gain in five weeks, as concerns that a renewed heat wave in Argentina may damage crops boosted demand for U.S. grain. Soybeans gained.

The weather pattern known as La Nina has brought hot, dry conditions to Argentina, Brazil and Mexico, scorching recently planted crops. Temperatures will exceed 40 degrees Celsius (104 degrees Fahrenheit) in some of Argentina’s corn-growing areas through Feb. 2, the Buenos Aires Cereals Exchange said yesterday. Rain will be scarce in most areas, said climatologist Eduardo Sierra.

“The market is certainly worried,” said Nick Higgins, an analyst at Rabobank International in London. “In the $6.40-$6.50 a bushel range the market is accounting for substantial reductions in the 11/12 corn crop for South America.”

Corn futures for March-delivery advanced 0.7 percent to $6.39 a bushel on the Chicago Board of Trade by 11:43 a.m. in London. The most-traded contract is set for a 4.5 percent gain this week, the biggest weekly advance since the week to Dec. 23. Futures rose 2 percent last week.

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January 24th, 2012

South Africa, the continent’s largest corn producer, may plant 11 percent more land with the grain this season after prices increased.

Plantings may expand to 2.63 million hectares (6.5 million acres) from 2.37 million hectares, Marda Scheepers, an official at the government’s Crop Estimates Committee, said by phone from Pretoria today. That compares with the 2.57 million-hectare median estimate of nine traders surveyed by Bloomberg Jan. 19.

“The reason for the advance is an increase in prices compared with the same period a year ago,” Scheepers said. “We’ve seen a decrease in the area planted with sorghum as farmers switched to corn.”

White-corn prices have risen 38 percent over the past six months on the South African Futures Exchange. The grain for March delivery closed at 2,686 rand ($337) a metric ton today.

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January 21st, 2012

Corn Futures – The use of corn to make ethanol in the U.S. is helping to lift the grain price worldwide, said Jose Graziano da Silva, the new director general of the United Nations’ Food and Agriculture Organization.

“FAO has been raising its voice against using food to produce bio energy,” Graziano da Silva told 64 agriculture ministers in Berlin yesterday. That’s “especially” the case for corn in the U.S. and oilseeds in Europe, he said.

Corn futures closed at $6.115 a bushel on the Chicago Board of Trade on Jan. 20, almost triple the $2.1175 a bushel for the grain a decade ago. Part of the U.S. corn production is used to make ethanol for blending into gasoline as a fuel while rapeseed is used in Europe to make biodiesel.

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January 12th, 2012

Corn futures and wheat prices plunged the most in three months, while soybeans slid, after an increase in stockpile forecasts by the U.S. government eased concern that shortages will inflate prices for food and biofuels.

Inventories of corn in the U.S., the world’s top grower and exporter, may total 846 million bushels before this year’s harvest, 12 percent more than analysts expected, a U.S. Department of Agriculture report showed today. The 2011 crop totaled 12.358 billion, above a December forecast, while global output will be a record for a fifth straight year. World wheat reserves will rise to the highest since 2000, the USDA said.

The prospect of ample supplies of grain for livestock feed boosted shares of Tyson Foods Inc. (TSN), the largest U.S. meat producer, and Smithfield Foods Inc., (SFD) the top pork processor. World food prices fell in December for the fifth time in six months and are down 11 percent from a record in February, the United Nations Food and Agriculture Organization said today.

“High prices curbed demand, and now the market will decline until we find improved consumption,” Mark Schultz, the chief analyst for Northstar Commodity Investment Co. in Minneapolis, said in a telephone interview.

Corn futures for March delivery tumbled the 40-cent limit, or 6.1 percent, to settle at $6.115 a bushel at 1:15 p.m. on the Chicago Board of Trade. That’s the biggest drop since Sept. 30. Soybean futures for March delivery fell 1.7 percent to $11.825 a bushel on the CBOT, after touching $11.50, the lowest since Dec. 21.

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December 30th, 2011

Corn traders are bullish for a fifth consecutive week on speculation that dry weather in South America is damaging crops, boosting demand for U.S. supplies at a time when stockpiles are predicted to shrink to a 16-year low.

Nineteen of 25 traders surveyed by Bloomberg expect corn to advance next week. Lower-than-average humidity and dry soil will curb crop development in Argentina and southern Brazil through at least Jan. 7, according to T-Storm Weather LLC, a forecaster in Chicago. Argentina is the world’s biggest corn shipper after the U.S. and typically starts reaping its grain in March.

While prices doubled in the past two years as record demand eroded inventories, corn fell as much as 27 percent since the end of August as the U.S. forecast the biggest-ever global harvest. The grain rallied 10 percent in the past two weeks on mounting concern that South American weather will undermine that prediction and drive stockpiles lower. Argentina and Brazil are expected to produce 90 million metric tons, enough to supply the 27-nation European Union for 17 months, USDA data show.

“We have already caused irreversible damage to the corn crop,” said Dave Marshall, a farm marketing adviser at Toay Commodity Futures Group LLC in Nashville, Illinois. “The dry weather trend of the past five weeks probably already lowered production 5 to 7 million tons below the USDA forecasts.”

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December 27th, 2011

Corn futures rose, capping the longest rally in a year, and soybeans jumped the most in 11 weeks on speculation that adverse weather threatens to reduce output in South America, bolstering demand for U.S. supplies.

About 50 percent of the crops in Argentina will be dry in the next 10 days after weekend rain stayed north of the main growing regions, Commodity Weather Group LLC said in a report. As much as a third of Brazil’s crops face a lack of rain, the forecaster said.

“Current weather trends are raising the odds that the South American crops will be reduced,” Dave Marshall, a farm- marketing adviser at Toay Commodity Futures Group LLC in Nashville, Illinois, said in a report. “Odds favor continued gains into the end of the year, as long as the South American weather forecasts don’t change.”

Corn futures for March delivery rose 2.2 percent to close at $6.3325 a bushel at 1:15 p.m. on the Chicago Board of Trade, the seventh straight gain and the longest rally since Dec. 29, 2010. Earlier, the grain reached $6.3675, the highest for a most-active contract since Nov. 17.

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December 9th, 2011

Corn futures declined after the U.S. government said global crop inventories will be larger than expected and wheat and soybeans fell to the lowest in more than a year.

World wheat stockpiles before the 2012 harvest will total 208.52 million metric tons, 2.9 percent more than projected a month earlier and the highest since 2000, the U.S. Department of Agriculture said. Soybean reserves will be 1.5 percent bigger than last month’s estimate, and corn supplies will be 4.6 percent higher. The outlook for the crops topped analysts’ forecasts.

“The world carryover projections were larger than expected and are negative for all three crops,” Mark Schultz, the chief analyst for Northstar Commodity Investment Co. in Minneapolis, said in a telephone interview. “Prices will have to fall low enough to generate improved demand.”

Wheat futures for March delivery fell 1 percent $5.91 a bushel at 11:28 a.m. on the Chicago Board of Trade. Earlier, the grain reached $5.84, the lowest since July 27, 2010. Before today, prices fell 25 percent in 2011 as record global production reduced demand for U.S. supplies.

Soybean futures for January delivery dropped 2.3 percent to $11.0675 a bushel on the CBOT. A close at that price would be the biggest loss since Nov. 23. The oilseed touched $11.0025, the lowest since Oct. 8, 2010. The commodity slumped 19 percent this year through yesterday.

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December 6th, 2011

Corn futures fell to a two-month low in Chicago on concern Chinese demand for imported crops may slow as the U.S. Department of Agriculture might raise grain-inventory estimates. Wheat and soybeans declined.

A purchasing managers’ index for Chinese services industries slid last month. From Sept. 1 to Dec. 1, the amount of U.S. corn inspected for export dropped 10 percent from a year earlier, USDA data show. China is the world’s biggest consumer of corn, wheat and pork and the top soybean importer.

“The demand in China — there’s evidence it’s slowing,” said William Adams, whose Resilience AG fund has gained 5.4 percent since its inception in August. “One could suggest that they’re going to buy fewer soybeans, eat less pork and buy less corn.”

Corn futures for March delivery retreated 1.3 percent to $5.8325 a bushel by 10:31 a.m. London time on the Chicago Board of Trade, sliding for a fourth session. The grain touched $5.80, the lowest price since Oct. 4.

Wheat futures for March delivery dropped 1.1 percent to $6.0475 a bushel. Milling wheat for March delivery traded on NYSE Liffe in Paris fell 0.7 percent to 176 euros ($235) a metric ton.

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