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October 24th, 2012
Soybean futures rose to a two-week high on signs of improving demand for supplies from the U.S., the world’s largest grower last year. Corn also gained.
U.S. exporters sold 105,000 metric tons of soybeans for delivery before Aug. 31 to unknown destinations, the U.S. Department of Agriculture said today. China, the world’s biggest buyer, boosted imports by 20 percent in September from a year earlier with U.S. shipments almost four times higher than a year earlier, the Customs Administration reported today.
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March 21st, 2012
Soybean futures may rebound from their biggest decline since January on speculation that next week’s U.S. Department of Agriculture planting report will show farmers didn’t increase oilseed planting.
The USDA’s prospective plantings report, scheduled to be released on March 30 in Washington, may show a 11 percent rise in soybean futures this year hasn’t encouraged farmers to increase acres, said Erin FitzPatrick, an analyst at Rabobank International. Growers may increase area seeded with corn, which is little changed since Jan. 1, she said.
“I’m not confident soybeans have bought much acreage from corn in the U.S.,” London-based FitzPatrick said in an e-mail today. “Soybeans will probably be fairly range bound until we get next Friday’s USDA release. Fundamentally there isn’t a lot of downside from here.”
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March 16th, 2012
Commodity Investing: The Standard & Poor’s GSCI gauge of 24 commodities jumped 0.8 percent to 706.15 at 5:17 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials was up 0.1 percent at 1,638.728. In the GSCI, Brent crude was up the most, at 1.7 percent, and nickel was down the most, at 2.1 percent.
CRUDE OIL
Oil increased, paring this week’s decline, on speculation that fuel demand will climb with the economic rebound in the U.S., the world’s biggest crude-consuming country.
Crude for April delivery rose 0.7 percent to $105.85 a barrel on the New York Mercantile Exchange. Prices are up 7.1 percent this year and down 1.4 percent this week.
Brent oil for May settlement increased 1.7 percent to $124.29 a barrel on the London-based ICE Futures Europe exchange.
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March 16th, 2012
Soybean futures extended this month’s rally to the highest level since September on speculation that China may boost purchases from the U.S. Corn slid.
Corn futures on the Dalian Commodity Exchange jumped to a record today after Jilin Corn Center Wholesale markets said yesterday the Chinese government bought 1.2 million metric tons of domestic grain so far this year compared with 11 million tons last year, signaling imports may rise to boost supplies. China’s soybean imports may rise more than 20 percent in the first half of 2012, Grain.gov.cn said March 12.
“The rising markets are a reflection of traders expecting increased Chinese purchases from the U.S.,” Jerry Gidel, the chief feed analyst at Chicago-based, Rice Dairy LLC, said in a telephone interview. “Rising meat demand is driving Chinese consumption of feed.”
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Grain futures fall
March 9th, 2012
Grain Futures – Global inventories of wheat and soybeans are falling more than forecast, while U.S. corn reserves head to a 16-year low, as farmers fail to keep pace with rising demand for food, livestock feed and biofuel.
The U.S. Department of Agriculture today cut its forecast of world wheat stockpiles on May 31 by 1.7 percent to 209.6 million metric tons, less than all 21 estimates collected in a Bloomberg survey. Soybean reserves on Aug. 31 will drop to a three-year low of 57.3 million tons, while the amount of corn held in the U.S., the world’s top grower and exporter, will slip to the lowest since at least since 1996, the agency said.
U.S. farm exports rose to a record $136.3 billion in 2011 on surging demand for grain and meat in Asia. The government today boosted its forecast of U.S. wheat exports by 2.6 percent from February, which will send domestic stockpiles to a three- year low. Global food prices tracked by the United Nations rose for a second consecutive month in February on higher costs for cereals, cooking oils and sugar.
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wheat futures supply
March 9th, 2012
Wheat Futures – Global wheat inventories will be 1.7 percent less than forecast a month ago and smaller than expected on increasing use of the grain in livestock feed, the U.S. Department of Agriculture said.
World stockpiles will total a record 209.58 million metric tons as of May 31, down from 213.10 million estimated last month, the USDA said today in a report. In a Bloomberg survey, 21 analysts expected supplies of 212.83 million tons, on average.
Global use of wheat in livestock feed will total 131.06 million tons, up from 130.66 million estimated last month, the USDA said. Corn futures for May delivery are trading near parity with wheat on the Chicago Board of Trade, compared with an average discount of about 91 cents in the past year. Global wheat exports may reach 142.93 million tons, up from 140.25 million forecast last month.
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