wheat futures brokers

wheat futures brokers

June 26th, 2015

The Buenos Aires grains exchange, which last week cut its estimate for Argentine wheat sowings, warned that a further downgrade could be in the offing, thanks to dry weather in major producing regions.

The exchange said that Argentine farmers had over the last week made significant progress in wheat sowings, planting 17.8% of their crop to get beyond the half-way stage.

Indeed, at 52.5% complete, sowings were running 3.7 points ahead of the year-ago pace.

However, “there remain to be planted large areas” in farming areas such as Cordoba, Santa Fe and Entre de Rios in Argentina’s central areas of the country’s grains belt, where dryness has dissuaded farmers from completing seedings.

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Chicago board of trade

Chicago board of trade

April 30th, 2015

Month-ends, by repute, bring lower grain prices, as funds sell-up withdraw cash to pay bonuses and customers.

But with hedge funds record net short, or so, in grains, as they were in the latest regulatory data, will that mean a nuance on that dynamic?

They might, after all, be tempted to raise money by taking profits on some of their short positions instead – sending prices higher in the process.

Certainly, grain futures traded a touch higher again in early deals on Thursday, despite expectations of ideal US sowings conditions, for now.

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wheat futures brokers

wheat futures brokers

April 28th, 2015

US winter wheat crops failed to show improvement again despite rains in the drought-hit southern Plains, with dryness worries growing in the north west of the country, and disease incidence taking a higher profile too.

The proportion of US winter rated “good” or “excellent” as of Sunday was 42%, for a third successive week, US Department of Agriculture data showed.

The stable rating defied expectations among many analysts of some improvement in the figure, after reports of rains to refresh crops in the central and southern Plains.

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wheat futures

wheat futures

August 13th, 2014

Wheat futures rose after the U.S. lifted the outlook for its exports of the grain as well as for global consumption, blunting the effect of increased production.

The U.S. is expected to ship 25.5 million metric tons of wheat in 2014-15, the U.S. Department of Agriculture said yesterday, lifting its outlook by 500,000 tons. The estimate for domestic ending stocks was little changed even as the agency raised its harvest forecast.

“In wheat, the situation remains largely unchanged in the U.S.,” Paris-based farm adviser Agritel wrote in an e-mailed comment. “Despite an increase in production, the export market improves with an outlook above 25.1 million tons, thus keeping ending stocks close to last month’s estimates.”

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wheat futures

wheat futures

August 4th, 2014

Wheat futures rose to a two-week high in Chicago on speculation that demand will increase for U.S. grain after wet weather eroded the quality of some crops in Europe.

France, the European Union’s biggest wheat grower, received twice the normal amount of rain on average in July, according to weather office Meteo-France. Wet weather late in the growing season probably cut quality of grain in both France and Germany, the second-biggest producer, Rabobank International said Aug. 1. The U.S. and EU each accounted for almost 20 percent of world exports last season, U.S. Department of Agriculture data show.

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wheat futures

wheat futures

August 1st, 2014

Wheat extended a decline to a four-year low in Paris on prospects for rising harvests in Europe and the Black Sea region even as excess rainfall raised concern in some areas about crop quality. Wheat rose in Chicago on signs of increasing demand for U.S. exports.

The soft wheat harvest in the European Union may be about 143 million metric tons, 5.1 percent more than the previous year, ADM Germany GmbH said yesterday. The harvest in France, the top EU grower, accelerated last week, with 76 percent of soft wheat crops collected in the main growing areas as of July 28, even as conditions deteriorated from the prior week, FranceAgriMer said today.

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wheat futures

wheat futures

July 22nd, 2014

Wheat rebounded amid speculation that yesterday’s slide to a four-year low may prompt some investors to close bets on a price drop and as rain forecast for parts of Europe raises concerns about crop quality.

Wheat futures in Chicago entered a bear market in June, and the most-active contract has dropped 28 percent from a peak of $7.44 a bushel on May 6. The 14-day relative strength index for wheat, a gauge of price momentum, was at 33.6, near the level of 30 below which some analysts consider indicates a security to be oversold.

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wheat futures

wheat futures

June 13th, 2014

Wheat futures rose, trimming a fifth weekly loss, amid speculation that a slump into a bear market may spur demand as Egypt bought grain from Romania and Russia yesterday.

Wheat entered a bear market on June 11 after the U.S. Department of Agriculture raised its forecast for global inventories. Egypt’s state grain authority bought 180,000 metric tons of wheat yesterday in its first international wheat tender for shipping in 2014-15.

Wheat for July delivery rose 0.6 percent to $5.89 a bushel on the Chicago Board of Trade at 6:04 a.m. local time, after touching $5.84 yesterday, the lowest for a most-active contract since Feb. 12. Chicago wheat futures are set to drop 4.7 percent this week. Milling wheat for November delivery traded on Euronext in Paris rose 0.1 percent to 188 euros ($255) a ton.

“You’ve always got to find some area of support after such a big move,” said Jonathan Barratt, the chief investment officer at Ayers Alliance Securities in Sydney. “You’ve got a market that is short and getting shorter.”

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wheat futures brokers

wheat futures brokers

June 11, 2014

Wheat rebounded on speculation that demand will be rekindled after prices slumped to the lowest level in more than three months before a government report that may show global reserves rising to the highest in three years.

Futures for July delivery rose 0.6 percent to $6.05 a bushel on the Chicago Board of Trade by 3:56 a.m. local time after retreating to $5.9825, the lowest for a most-active contract since Feb. 28. Prices slumped 19 percent by yesterday from the 14-month closing high of $7.39 on May 6. A 20 percent drop meets the common definition of a bear market.

World stockpiles before the 2015 Northern Hemisphere harvest may be bigger than the U.S. Department of Agriculture forecast last month according to a Bloomberg survey. The USDA updates its estimate today. Australia today lowered its crop forecast to 24.6 million metric tons from 24.8 million tons on dry weather.

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wheat futures brokers

wheat futures

June 4th, 2014

Wheat rallied from the lowest level in more than three months as investors weighed improved planting in the U.S., the world’s biggest exporter, against speculation that the longest slump in 15 years may spur demand.

Futures for July delivery advanced 0.2 percent to $6.14 a bushel on the Chicago Board of Trade by 1:57 p.m. in Singapore after a 0.3 percent drop to $6.1075, the lowest level for a most active-contract since Feb. 28. Prices fell for a 10th session yesterday, the longest such slump since Sept. 1, 1998.

About 30 percent of U.S. winter wheat was in good or excellent condition as of June 1, unchanged from a week earlier, the U.S. Department of Agriculture said June 2. Planting of spring wheat was 88 percent complete from 74 percent in the previous week, it said. Showers later this week in central and northern areas of the Plains wheat belt will replenish moisture, MDA Information Systems LLC said in a report yesterday.

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