By Luzi Ann Javier - Oct 30, 2012
Bloomberg
Corn gained, snapping the longest losing streak since March 2011, on signs that a slump in prices may have boosted demand for supplies from the U.S., the world’s largest grower.
Soybeans rose
The grain for December delivery advanced as much as 0.4 percent to $7.40 a bushel on the Chicago Board of Trade, after declining for six straight days. Futures were at $7.39 by 12:26 p.m. Singapore time, trimming the monthly loss to 2.3 percent. Soybeans for January gained 0.2 percent to $15.325 a bushel, after losing 2.7 percent in the past three days.
Corn inspected at U.S. ports before shipment, increased 49 percent to 15.5 million bushels in the week to Oct. 25 from a week earlier, the Department of Agriculture said yesterday.
“That’s quite an impressive inspections result,” Ker Chung Yang, an analyst at Phillip Futures Pte., said by phone from Singapore today. “It’s one of the factors that will support prices.”
The soybean-producing region in Brazil, set to overtake the U.S. as the world’s largest grower in the marketing year 2012- 2013, will have rain this week, which should aid planting, weather consultant Somar Meteorologia said in a report yesterday. The nation’s corn growing areas will also receive rain this week, it said in a separate report.
Soybeans inspected at U.S. ports before export slid 2.8 percent to 63.4 million bushels in the week ended Oct. 25 from a week earlier, the USDA said yesterday. In China, the largest importer of the oilseed, imports may decline to 2.5 million tons in November, from 4.2 million tons this month and 4.5 million tons in September, the Ministry of Commerce said yesterday.
Wheat for December delivery gained 0.2 percent to $8.60 a bushel for the first advance in four days.
The USDA’s weekly report on crop progress was not issued as scheduled yesterday after Washington offices were shut because of Hurricane Sandy.
Bloomberg
Corn gained, snapping the longest losing streak since March 2011, on signs that a slump in prices may have boosted demand for supplies from the U.S., the world’s largest grower.
Soybeans rose
The grain for December delivery advanced as much as 0.4 percent to $7.40 a bushel on the Chicago Board of Trade, after declining for six straight days. Futures were at $7.39 by 12:26 p.m. Singapore time, trimming the monthly loss to 2.3 percent. Soybeans for January gained 0.2 percent to $15.325 a bushel, after losing 2.7 percent in the past three days.
Corn inspected at U.S. ports before shipment, increased 49 percent to 15.5 million bushels in the week to Oct. 25 from a week earlier, the Department of Agriculture said yesterday.
“That’s quite an impressive inspections result,” Ker Chung Yang, an analyst at Phillip Futures Pte., said by phone from Singapore today. “It’s one of the factors that will support prices.”
The soybean-producing region in Brazil, set to overtake the U.S. as the world’s largest grower in the marketing year 2012- 2013, will have rain this week, which should aid planting, weather consultant Somar Meteorologia said in a report yesterday. The nation’s corn growing areas will also receive rain this week, it said in a separate report.
Soybeans inspected at U.S. ports before export slid 2.8 percent to 63.4 million bushels in the week ended Oct. 25 from a week earlier, the USDA said yesterday. In China, the largest importer of the oilseed, imports may decline to 2.5 million tons in November, from 4.2 million tons this month and 4.5 million tons in September, the Ministry of Commerce said yesterday.
Wheat for December delivery gained 0.2 percent to $8.60 a bushel for the first advance in four days.
The USDA’s weekly report on crop progress was not issued as scheduled yesterday after Washington offices were shut because of Hurricane Sandy.
No comments:
Post a Comment