30 January 2015 | Online since 2003



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



Comments


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

To post comment without approval login or register

Display name

Please enter your name

Email (optional)
Comment

Please enter your comment

Post Comment

Your comment submitted successfully.Please wait for admin approval.

Some error on your process.Please try one more time.



Jobs


29 January 2015
PA / Office Manager
Responsible for dairy management, email management, collating and distributing board papers for monthly meetings, producing a...

29 January 2015
Telehandler
Skillbase require a telehandler for a job in Bicester.Working on a solar farm, 7 days a week. Moving crates/pallets of solar ...

9 January 2015
Commercial Property Solicitor / 1-5 yrs
The successful candidate will join one of the largest commercial real estate teams in Kent and enjoy a varied commercial prop...

12 January 2015
Business Development Manager - Animal Health - International
Effective communicator at farm and business level. A Business Development Manager is required by our client, a private UK bas...

13 January 2015
Production Shift Manager
Production Shift Manager Location - Exeter Area Salary - £ up to 42k DOE My client is an established and growing Manufacturer...




Top stories you may have missed
12 November 2014 | Arable
GM crops 'good for farmers and the envir...

GM crops 'good for farmers and the envir...

GM crops are good for the economy and can reduce the amount of pesticides u...


6 November 2014 | Cattle
Smaller European markets drive beef expo...

Smaller European markets drive beef expo...

Demand from smaller European markets has helped drive strong growth for UK ...


6 November 2014 | Agri Safety
Lack of engineers a 'ticking time bomb' ...

Lack of engineers a 'ticking time bomb' ...

A lack of engineers, not enough people promoting the land-based industries ...


4 November 2014 | Bees and Beekeeping
Bee action plan due: Last chance for bee...

Bee action plan due: Last chance for bee...

Environment Secretary Elizabeth Truss is launching the National Pollinator ...


4 November 2014 | Arable
Experts welcome financial boost for youn...

Experts welcome financial boost for youn...

Agricultural specialists have welcomed a potential financial boost for youn...


3 November 2014 | News
Supermarket competition on prices 'risks...

Supermarket competition on prices 'risks...

As retailers continue to participate in a highly competitive race to the bo...


31 October 2014 | Arable
New Defra farm figures 'underline volati...

New Defra farm figures 'underline volati...

New farm business income data from Defra, which focus on income from March ...


30 October 2014 | Agri Safety
Agriculture remains one of UK's most dan...

Agriculture remains one of UK's most dan...

Agriculture has remained one of the industries in which workers are most li...


29 October 2014 | Finance
UK farmland prices see 'substantial grow...

UK farmland prices see 'substantial grow...

Prime arable land in the UK has seen a substantial year-on-year growth in p...


27 October 2014 | Arable
Satellites to help farmers pinpoint dise...

Satellites to help farmers pinpoint dise...

A new mobile app for farmers able to pinpoint and identify disease, pests a...