CBOT Trends-Wheat up 11-12 cents, corn up 4-5, soy up 6-7
CHICAGO, Sept 13 (Reuters) -Following are U.S. expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CDT (1330 GMT) on Friday.
NOTE: CBOT September futures contracts expire on Friday.
WHEAT - Up 11 to 12 cents per bushel
* Chicago wheat futures up as an ebbing supply of Black Sea exports and concerns over rising tensions between Ukraine and Russia supported prices.
* Ukraine accused Russia on Thursday of using strategic bombers to strike a civilian grain vessel in a missile attack in Black Sea waters near NATO member Romania. The Kremlin has declined to comment.
* Wheat futures remain under pressure after the U.S. Department of Agriculture increased its global wheat stocks forecast in its monthly report on Thursday.
* CBOT December soft red winter wheat WZ24 was last up 12 cents to $5.90-1/2 a bushel. K.C. December hard red winter wheat KWZ24 was last up 10-3/4 cents to $5.97 a bushel, while MGEX December spring wheat MWEZ24 was last up 9-1/2 cents to $6.31-1/4 a bushel.
CORN - Up 4 to 5 cents per bushel
* Chicago corn futures tick up as the market bounced back from a dip on Thursday sparked by a bearish USDA report.
* The U.S. Department of Agriculture raised its forecast for U.S. corn production and yields on Thursday, surprising traders who expected a decline following a spell of dry summer weather.
* CBOT December corn CZ24 was up 5-1/4 cents to $4.11-1/4 per bushel.
SOYBEANS - Up 6 to 7 cents per bushel
* Chicago soy futures up following Thursday's USDA report that trimmed its projection for soybean production and concerns over hot, dry weather in Brazil's top soy producing states.
* The U.S. soybean crop is still expected to be the largest ever.
* Showers over the U.S. Midwest next week may help reduce some heat stress on the crop, an analyst note said.
* Exporters sold 100,000 metric tons of soybeans to China, the USDA reported in a daily reporting system.
* CBOT November soybeans SX24 were last up 7-3/4 cents to $10.18-1/2 per bushel.
Reporting by Heather Schlitz; Editing by Andrea Ricci
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
