Wheat futures declined on Tuesday, as traders tried to gauge how badly Russia’s drought would affect grain supplies. On the Chicago Board of Trade, wheat futures for September delivery lost 5.4 cents to $5.766 per bushel. This decline marks the third straight day of falling prices. Some analysts thought the price had run up too… Read more.
Seventeen of Russia’s wheat-growing regions reported a state of emergency as a result of temperatures that flared over 100 degrees Fahrenheit. Reports say that 20 percent of the land sown with wheat has been destroyed, with as much as 50 percent ruined in eleven of the regions. On Thursday, wheat for September delivery rose 38… Read more.
U.S. wheat futures pulled back from solid gains that touched record highs and settled mixed. CBOT wheat for September delivery ended down at $4.77 3/4 a bushel. Weather was once again the primary issue, as heavy rain blanketed the Great Plains region and hit Oklahoma and Kansas with particular force. The wet weather can delay… Read more.
Wheat futures hit a one-month high, corn futures reached a five-week high and soybeans rose for third time, reported Bloomberg today. The primary factor affecting the price of the crops seemed to be unusually intense rainfall across the Midwest, which disrupted both planting and harvests “from Iowa through Texas.” The National Weather Service data show… Read more.
Wheat futures for July delivery perked up a bit today after slumping yesterday to a four-year low of $4.26 a bushel. The low prices yesterday were partially the result of the summer harvest beginning on the Great Plains, swelling stocks of grain and potentially leading to fears of excess supply. Today, however, the U.S. Department… Read more.
Despite ongoing uncertainty in the economy, now may be a time to consider investing in livestock futures given the generally favorable conditions being cited by government officials. In its most recent Beige Book survey, the Federal Reserve notes that higher livestock prices in March helped increase profitability in this area, especially for cattle producers. The… Read more.
Daniels Trading CEO, Andrew Daniels, was quoted in the Bloomberg article titled “Wheat Jumps 5% on Concern Farmers May Shift Acreage to Corn.” “The wheat’s already been planted, so the only way to shift acres would be to rip it out of the ground this spring,” said Andy Daniels, chief executive officer of Daniels Trading… Read more.