Edition:
India

Julie Ingwersen

Damaged Columbia River lock stalls U.S. grain exports to Asia

11 Sep 2019

CHICAGO The flow of grains and other commodities through the U.S. Pacific Northwest has stalled because of a broken river lock at the Bonneville Dam on the Columbia River, along the Oregon-Washington border.

LIVESTOCK-U.S. live cattle futures near three-year low on weak cash prices

07 Sep 2019

CHICAGO, Sept 6 Front-month live cattle futures on the Chicago Mercantile Exchange fell their daily limit on Friday, dipping to the lowest level since 2016 as traders reacted to weak cash cattle prices, brokers said.

LIVESTOCK-U.S. live cattle futures fall as cash cattle, beef prices sag

06 Sep 2019

CHICAGO, Sept 5 Chicago Mercantile Exchange live cattle futures fell to contract lows on Thursday as cash cattle prices declined from last week and wholesale beef prices extended their slide, traders said.

GRAINS-Soybeans sag on U.S. demand worries; wheat ends higher, corn firm

06 Sep 2019

(Updates with closing U.S. prices) By Julie Ingwersen CHICAGO, Sept 5 U.S. soybean futures fell more than 1% on Thursday on concerns about burdensome supplies and weak export demand as the U.S. trade war with China continues, analysts said. Wheat futures rose on short-covering and worries about drought in Australia, and corn edged higher, despite bearish weekly U.S. ethanol statistics. Chicago Board of Trade November soybeans settled down 14 cents at $8.61-1/2 per bushel after dipping to $8.58-1/4, a one-week low. CBOT December wheat ended up 5-1/2 cents at $4.66-1/4 a bushel and December corn finished 1/4 cent higher at $3.58-3/4 a bushel. Soybeans firmed in early moves on news that China and the United States agreed to hold high-level talks in early October, raising hopes for a thaw in their trade dispute. China is the world's top soy importer. But CBOT soy futures turned down as brokers shifted their focus to ample U.S. supplies and prospects for large harvests in South America, which has ramped up exports to China during the trade war. Commodity brokerage INTL FCStone late on Wednesday raised its forecast of the U.S. 2019 soybean yield to 48.3 bushels per acre, from its Aug. 1 figure of 47.2. The firm put U.S. soybean production at 3.661 billion bushels, down from 3.743 billion previously, reflecting a smaller harvested acreage figure from last month. On Thursday, INTL FCStone projected Brazil's 2019/20 soybean crop at 121.41 million tonnes, up from 115.07 million in 2018/19. The U.S. Department of Agriculture has projected Brazil's 2019/20 crop at 123 million tonnes. "Without an agreement with China to buy our beans, they (China) are free to buy South American soybeans. And that is going to hurt our export demand," said Brian Hoops, president of broker Midwest Market Solutions. Separately, China's customs agency said it had allowed imports of soymeal and other oilseed products from Russia, which so far has been a minor soybean producer. "We continue to lose market share. And this trade deal between us and China is nowhere close to happening," said Tom Fritz, a partner with EFG Group in Chicago. CBOT wheat futures climbed, rallying from three-month lows set this week, while K.C. hard red winter wheat futures and Minneapolis Grain Exchange spring wheat futures recovered from 14- and 10-year lows, respectively. Traders cited wheat prospects in Australia, which is struggling with a third straight year of drought. "There are concerns about the crop in Australia being hurt, and that could show up in the USDA report next week," said Hoops, referring to the USDA's monthly supply/demand report due on Sept. 12. Corn futures inched higher as the strength in wheat helped lift corn from life-of-contract lows set a day earlier. Traders shrugged off bearish weekly ethanol data. The U.S. Energy Information Administration said weekly U.S. output of the corn-based biofuel fell to 1.01 million barrels per day, the lowest since April, while stocks rose to 23.8 million barrels. CBOT settlement prices: Net Pct Volume Last change change CBOT wheat WZ9 466.25 5.50 1.2 44185 CBOT corn CZ9 358.75 0.25 0.1 129413 CBOT soybeans SX9 861.50 -14.00 -1.6 108785 CBOT soymeal SMZ9 294.50 -4.00 -1.3 46400 CBOT soyoil BOZ9 28.64 -0.35 -1.2 71389 NOTE: CBOT December wheat and corn and November soybeans shown in cents per bushel, December soymeal in dollars per short ton and December soyoil in cents per lb. (Reporting by Julie Ingwersen; Additional reporting by Naveen Thukral in Singapore and Sybille de La Hamaide in Paris; Editing by Edmund Blair, Steve Orlofsky and Peter Cooney)

GRAINS-Soybeans sag on U.S. demand worries; wheat and corn higher

05 Sep 2019

(New throughout; updates prices, adds quotes, changes byline, changes dateline from previous SINGAPORE/PARIS) By Julie Ingwersen CHICAGO, Sept 5 U.S. soybean futures fell nearly 2% on Thursday on concerns about burdensome supplies and weak export demand as the U.S. trade war with China continues, analysts said. Wheat futures rose on short-covering and worries about drought in Australia, and corn followed wheat higher, shrugging off pressure from bearish weekly U.S. ethanol statistics. As of 12:46 p.m. CDT (1746 GMT), Chicago Board of Trade November soybeans were down 16 cents at $8.59-1/2 per bushel after dipping to $8.58-1/4, a one-week low. CBOT December wheat was up 5-1/4 cents at $4.66 a bushel and December corn was up 2 cents at $3.60-1/2 a bushel. Soybeans firmed in early moves on news that China and the United States agreed to hold high-level talks in early October, raising hopes for a thaw in their trade dispute. China is the world's top soy importer. But CBOT soy futures turned lower as brokers shifted their focus to ample U.S. supplies and prospects for large harvests in South America, which has ramped up exports to China during the trade war. Commodity brokerage INTL FCStone late Wednesday raised its forecast of the U.S. 2019 soybean yield to 48.3 bushels per acre, from its Aug. 1 figure of 47.2. The firm put U.S. soybean production at 3.661 billion bushels, down from 3.743 billion previously, reflecting a smaller harvested acreage figure from last month. On Thursday, INTL FCStone projected Brazil's 2019/20 soybean crop at 121.41 million tonnes, up from 115.07 million in 2018/19. The U.S. Department of Agriculture has projected Brazil's 2019/20 crop at 123 million tonnes. "Without an agreement with China to buy our beans, they (China) are free to buy South American soybeans. And that is going to hurt our export demand," said Brian Hoops, president of broker Midwest Market Solutions. Separately, China's customs agency said it has allowed imports of soymeal and other oilseed products from Russia, which so far has been a minor soybean producer. "We continue to lose market share. And this trade deal between us and China is nowhere close to happening," said Tom Fritz, a partner with EFG Group in Chicago. CBOT wheat futures climbed, rallying from three-month lows set this week, while K.C. hard red winter wheat futures and Minneapolis Grain Exchange spring wheat futures recovered from 14- and 10-year lows, respectively. Traders cited wheat prospects in Australia, which is struggling with a third straight year of drought. "There are concerns about the crop in Australia being hurt, and that could show up in the USDA report next week," said Hoops, referring to the USDA's monthly supply/demand report due on Sept. 12. Corn futures inched higher as the strength in wheat helped lift corn from life-of-contract lows set a day earlier. Traders shrugged off bearish weekly ethanol data. The U.S. Energy Information Administration said weekly U.S. output of the corn-based biofuel fell to 1.01 million barrels per day, the lowest since April, while stocks rose to 23.8 million barrels. CBOT prices as of 12:45 p.m. CDT (1745 GMT): Net Pct Volume Last change change CBOT wheat WZ9 466.00 5.25 1.1 37358 CBOT corn CZ9 360.50 2.00 0.6 112406 CBOT soybeans SX9 859.75 -15.75 -1.8 96011 CBOT soymeal SMZ9 294.00 -4.50 -1.5 39602 CBOT soyoil BOZ9 28.56 -0.43 -1.5 56519 NOTE: CBOT December wheat and corn and November soybeans shown in cents per bushel, December soymeal in dollars per short ton and December soyoil in cents per lb. (Additional reporting by Naveen Thukral in Singapore and Sybille de La Hamaide in Paris; editing by Edmund Blair and Steve Orlofsky)

LIVESTOCK-U.S. live cattle futures end lower, feeder cattle advance

05 Sep 2019

CHICAGO, Sept 4 U.S. benchmark live cattle futures drifted lower on Wednesday, pressured by expectations of weaker cash cattle prices this week and a seasonal slowdown in demand for beef following the Labor Day holiday, traders said.

LIVESTOCK-U.S. lean hog futures jump as Chinese pork prices climb

04 Sep 2019

CHICAGO, Sept 3 U.S. lean hog futures surged their daily limit on Tuesday on a mix of fund-driven buying and renewed optimism about Chinese demand for pork as the Asian country struggles with outbreaks of African swine fever in its massive hog herd, traders said.

LIVESTOCK-CME lean hog futures dive as U.S.-China trade war heats up

24 Aug 2019

CHICAGO, Aug 23 Chicago Mercantile Exchange lean hog futures tumbled on Friday, with the benchmark October contract falling its daily 3-cent limit after China announced a fresh set of tariffs on U.S. agricultural products, traders said.

LIVESTOCK-CME cattle futures extend climb on robust packer margins

23 Aug 2019

CHICAGO, Aug 22 Chicago Mercantile Exchange live cattle futures advanced for a fourth straight session on Thursday, led by the nearby August contract as robust profit margins for beef packers fueled expectations of strong demand for cash cattle, traders said.

LIVESTOCK-CME cattle futures rise on strong beef demand; lean hogs sag

22 Aug 2019

CHICAGO, Aug 21 Chicago Mercantile Exchange live cattle futures closed higher on Wednesday for a third session as strong demand for beef ahead of the Labor Day holiday bolstered margins for meat packers, traders said.

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