Reuters logo
GRAINS-U.S. corn drops to two-week low on slow demand, soy firms
November 20, 2014 / 1:37 AM / 3 years ago

GRAINS-U.S. corn drops to two-week low on slow demand, soy firms

SINGAPORE, Nov 20 (Reuters) - Chicago corn futures fell on
Thursday with the market on track for its biggest five-day
decline in four months as record U.S. production struggles to
find demand.
    Soybeans edged higher after two days of losses, while wheat
lost more ground in early Asian trade.
    * U.S. farmers have nearly finished harvesting a record corn
crop but exporters are facing stiff competition from cheaper
supplies in South America and the Black Sea region.
    * Three buying agencies in major corn importer South Korea
bought grain from any worldwide origin. Supplies from the United
States were not expected to be competitive, traders said.
    * Top global wheat importer Egypt issued a tender after the
close of trading on Wednesday, seeking wheat for shipments
between Dec. 21-31. Egypt's wheat imports have been dominated in
recent months by shipments from France, Ukraine, Russia and
    * More competition for U.S. wheat in its home market looms
as France is set for its first large shipment of wheat to the
United States in 12 years, as the European Union's top grain
producer tries to clear large stocks of lower quality material
from a rain-hit harvest.
    * Crop forecaster Lanworth predicted U.S. winter wheat
production would rise in the 2015/16 marketing year as yields
rebound, despite a 4 percent year-on-year drop in planted
    * Lanworth, a unit of Thomson Reuters, estimated U.S.
2015/16 winter wheat plantings at 40.790 million acres, down
from the U.S. Department of Agriculture's 2014/15 figure of 42.4
million. Lanworth attributed the decline to planting delays and
low profitability of wheat relative to other crops.
    * Private exporters reported the sale of 125,000 tonnes of
U.S. soybeans to unknown destinations for delivery in the
2014/15 marketing year, which started on Sept. 1, the USDA said
on Wednesday.    
    * Asian stocks mostly fell on Thursday apart from Tokyo,
where shares bucked the downward trend and rose in reaction to a
further weakening in the yen. 
0145 China HSBC flash manufacturing PMI Nov 
0700 Germany Producer prices Oct 
0800 France Markit flash manufacturing PMI Nov 
0830 Germany Markit flash manufacturing PMI Nov 
0900 Euro zone Markit flash manufacturing PMI Nov 
1330 U.S. Consumer prices Oct 
1330 U.S. Weekly jobless claims 
1445 U.S. Markit flash manufacturing PMI Nov 
1500 Euro zone Consumer confidence Nov 
1500 U.S. Existing home sales Oct 
1500 U.S. Leading index Oct 
1500 U.S. Philly Fed business index Nov
  Prices at  0110 GMT
  Contract        Last    Change  Pct chg  Two-day chg MA 30   RSI 
  CBOT wheat     536.50    -1.25  -0.23%    -2.76%     525.67   49
  CBOT corn      363.00    -0.25  -0.07%    -3.90%     367.27   38
  CBOT soy      1008.00     3.25  +0.32%    -2.73%    1002.21   42
  CBOT rice      $12.40   -$0.01  -0.04%    +4.11%     $12.44   71
  WTI crude      $74.50   -$0.08  -0.11%    -0.15%     $79.64   29
  Euro/dlr       $1.253  -$0.002  -0.18%    -0.05%
  USD/AUD         0.860   -0.001  -0.17%    -1.31%
  Most active contracts
  Wheat, corn and soy US cents/bushel. Rice: USD per hundredweight
  RSI 14, exponential
 (Reporting by Naveen Thukral; Editing by Joseph Radford)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below