08 July 2015 | Online since 2003

Chicago market report 17th July 2012



17 July 2012 10:50:27|Arable,Cereal,Crops,Market Reports,News

Chicago market report - 17th July 2012


Soycomplex: Aug 12 Soybeans closed at $16.33 3/4, up 39 cents; Nov 12 Soybeans closed at $15.90 1/2, up 38 cents; Aug 12 Soybean Meal closed at USD478.30, up USD13.20; Aug 12 Soybean Oil closed at 54.65, up 95 points. Funds were said to have been net buyers of around 7,000 soybean contracts on the day as temperatures in the Midwest hit triple digits over the weekend.

The USDA cut soybean crop ratings sharply once again, with only 34% now good/excellent and 30% now showing as poor/very poor.

Corn: Sep 12 Corn closed at USD7.76 3/4, up 36 1/4 cents,; Dec 12 Corn closed at USD7.72 1/2, up 32 1/4 cents. The USDA cut corn ratings by nine percentage points, with just 31% of the crop now rated good/excellent and 38% now said to be poor/very poor. 71% of the crop is now silking. "A strong ridge of high pressure is expected to shift westward toward the Rocky Mountains this week.

This opens the door for cooling in the Great Lakes, but also brings a hot forecast to corn states west of the Mississippi River. Des Moines, Iowa, is expecting highs near 100 F Monday and Tuesday, cooling to 95-97 F Wednesday through Friday. Omaha, Nebraska, will be 98 F, or hotter, all week long capped off with a 100 F on Friday," say Martell Crop Projections.

Wheat: Sep 12 CBOT Wheat closed at USD8.84 1/2, up 36 3/4 cents; Sep 12 KCBT Wheat closed at USD8.84 1/2, up 33 1/2 cents; Sep 12 MGEX Wheat closed at USD9.83, up 33 1/2 cents.

Funds were estimated as being net buyers of around 6,000 Chicago wheat contracts on the day. Spillover support from corn boosted wheat, along with further downgrades to Russian production and export hopes. The USDA pegged the US winter wheat harvest at 80% complete and dropped spring wheat good/excellent ratings by one point to 65%. Japan bought US HRS and white wheat over the weekend.

Download





0 Comment


Name

Please enter your name


Email

Comment

Please enter your comment


Post Comment

Your comment submitted successfully.Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment

Jobs

Start Date: 24 June 2015
Experienced tractor driver for arable/contracting operations: job in Co Durham

650 acre arable farm in Co Durham with 2500 acre contracting business, looking for experienced tractor driver with extensive ...


Start Date: 30 June 2015
Experienced and hard-working Tractor Driver/General Farm Worker, with good English required for busy, well-equipped potato/arable Farm in Chelmsford, Essex.

Hard working, competent & flexible Tractor Driver/Farm worker required for very busy well-equipped potato/arable farm in ...


Start Date: 30 June 2015
Job for  HERDSPERSON - STAFFORDSHIRE

We have a vacancy available on our 400 cow spring calving dairy unit. 565 acres all grass farm with 20/40 milking parlour and...


Start Date: 24 June 2015
Tractor driver required for medium square baling and silage trailer work >>Job in Hampshire<<

Contractor require an experienced reliable tractor driver for medium square baling and trailer work through until the en...


Start Date: 7 July 2015
Permanent job for Herdsman >>Gloucestershire<<

Family dairy farm with 130 cows Autumn calving British Friesian crossed Holsteins. Needs a Herdsman to help with all aspects ...





Top stories you may have missed
5 June 2015 | Cattle

A strong pound and increased red meat imports coupled with a plentiful dome...


5 June 2015 | Arable

Depression is affecting Wales' farming industry and there is a need to use ...


5 June 2015 | Arable

With just one week to go before the final judging and announcement of the w...


5 June 2015 | Finance

A rural law expert has highlighted the importance of good succession planni...


5 June 2015 | Farmshops

A south Yorkshire dairy farming family is pulling out all the stops to prom...


4 June 2015 | Finance

Predicting what is going to happen to wheat prices is a challenge, but in s...


4 June 2015 | Agri Safety

A Lancashire based livestock theft prevention scheme is aiming to go nation...


4 June 2015 | News

A female farmer has been recognised by the farming and conservation industr...


4 June 2015 | Finance

The new Conservative government appears to be preparing to implement cuts f...


4 June 2015 | Arable

The Rural Payments Agency (RPA) will have mobile support units at the follo...


Username
Password