Corn Gains as Persistent Rain

On May 13, 2013, in Corn Futures News Report, by Infinity Trading
corn futures brokers

corn futures gain

May 13th, 2013

Corn futures climbed on concern that persistent wet weather in parts of the Midwest, the largest growing region in the U.S., raises the risk of the nation missing a record production forecast.

Wet conditions, followed by cold weather over the weekend in the western part of the Midwest, and rainfall last week in the eastern part probably caused delays in field work and sowing, DTN said in a report May 10, after the U.S. Department of Agriculture released its outlook for the 2013-14 crops. The U.S. is the world’s biggest producer of corn.

“It is too early to become complacent about supplies because exceptional weather-related production risks persist,” Luke Mathews, a commodity strategist at Commonwealth Bank of Australia (CBA), wrote in a report today.

Continue reading »

corn futures and options news

corn futures reach higher

April 29th, 2013

Corn futures reached a one-week high in Chicago on speculation a government report will show planting slowed in the U.S., while forecasts for cooler weather may further curb sowing. Wheat rose.

Four percent of corn crops in the major U.S. producing states were planted as of April 21, behind the five-year average pace of 16 percent, the Department of Agriculture said April 22. The agency is scheduled to update its weekly crop progress report today. Much of the Midwest, from Missouri to Michigan, had double the normal rainfall in the past two weeks, National Weather Service data show.

The USDA report may “show only minimal seeding activity took place last week, meaning crop concerns will remain heightened,” Luke Mathews, a commodity strategist at Commonwealth Bank of Australia (CBA), wrote in a report today. “The outlook for later this week shows cool, wet weather plaguing the U.S. Midwest once again, meaning spring crop development will slip even further behind schedule.”

Continue reading »

March 28th, 2013

Corn futures plunged the most since May, sparking a slump in soybeans and wheat, after the government said U.S. inventories were bigger than analysts forecast and that farmers will plant the most since 1936.

Inventories of corn on March 1 totaled 5.399 billion bushels in the U.S., the world’s biggest grower and exporter, the Department of Agriculture said today. While that’s down 10 percent from 2012 and a nine-year low, analysts expected 4.995 billion. Farmers will sow 97.282 million acres, up from 97.155 million in 2012 and the most in 77 years, the USDA said.

Prices this month jumped 4.5 percent before today and reached a seven-week high yesterday on concern that rising demand from makers of ethanol and animal feed would erode inventories before a record harvest arrives in September. After today’s USDA report, corn prices plunged the maximum allowed on the Chicago Board of Trade, while soybeans fell the most since September and wheat futures had their biggest drop since 2011.

Continue reading »

March 27th, 2013

Corn supplies in the U.S., the biggest grower, are shrinking at the fastest pace in almost four decades as improving demand from ethanol refiners drains reserves already diminished by drought.

Stockpiles probably fell 38 percent in three months to 4.995 billion bushels (126.9 million metric tons) by March 1, the biggest drop since 1975, according to the average of 31 analyst estimates compiled by Bloomberg. AgResource Co. in Chicago and Northstar Commodity Investments Inc. in Minneapolis expect prices to jump 13 percent to $8.25 a bushel before supply rebounds with a record harvest in September.

Continue reading »

March 21st, 2013

Corn Futures – World corn production is forecast to climb 9 percent in the 2013-14 crop year, with the U.S. harvest predicted to rise as much as 30 percent this year, the International Grains Council forecast.

Global corn stocks may jump 19 percent from a 16-year low expected at the end of the 2012-13 crop year, as output rises faster than consumption, the London-based council wrote in an e- mailed report today.

Corn prices in Chicago have dropped 14 percent from a record in August on expectations of increased U.S. production, while wheat has slumped 23 percent from a July peak.

Continue reading »

March 5th, 2013

Corn futures declined for the second time this week as snowfall in the U.S., the biggest producer, improved prospects for the crop before the planting season starts in April.

The contract for May delivery lost as much as 0.4 percent to $7.0625 a bushel on the Chicago Board of Trade, and was at $7.0825 by 11:52 a.m. Singapore time. Futures gained 0.8 percent yesterday after falling 0.7 percent on March 4, when a Bloomberg survey showed U.S. inventories may be larger than a government estimate last month.

Continue reading »

February 8, 2013

Corn futures rebounded from a four- week low on speculation that improved profits for U.S. ethanol makers will lead to increased purchases of the grain. Soybeans were little changed.

Ethanol is the cheapest relative to gasoline, based on futures prices, since Sept. 28, with a spread of more than 63 cents a gallon compared with about 19 cents on Dec. 6. That’s improving the incentive for distillers to produce more corn- based fuel, especially after grain prices fell this week and gasoline futures reached a four-month high.

Continue reading »

January 24th, 2013

Corn futures rose from a one-week low on speculation that demand from U.S. makers of biofuel and animal feed will erode inventories. Soybeans fell.

Ethanol production rose 1 percent in the week ended Jan. 18 and stockpiles dropped 1.4 percent, the Energy Department said today in a report. In the week ended Jan. 19, domestic chicken producers increased the number of chicks placed on feed by 1.1 percent from a year earlier, the U.S. Department of Agriculture said yesterday. The government said corn reserves on Aug. 31 will fall 39 percent to the lowest in 17 years.

Continue reading »

August 10th, 2012

Corn Futures – Corn production in the U.S., the world’s largest grower and exporter, will drop 13 percent to a six-year low after the hottest July since 1936 damaged Midwest fields, the government said.

The harvest will total 10.779 billion bushels (273.8 million metric tons), compared with 12.358 billion in 2011, the U.S. Department of Agriculture said today in its first survey- based estimate for the crop. Last month, the USDA said production would fall to 12.97 billion. The average prediction of 29 analysts questioned by Bloomberg was for 10.929 billion.

Continue reading »