Grain futures mostly higher ahead of USDA weekly sales report
Investing.com
Published Nov 21, 2013 06:10AM ET
On the Chicago Mercantile Exchange, soybeans futures for January delivery traded at USD12.7963 a bushel, 0.4% higher. Prices of the oilseed traded in a range between USD12.7563 a bushel, the daily low and a session high of USD12.8038 a bushel.
The January soy contract ended down 0.2% on Wednesday to settle at USD12.7360 a bushel.
U.S. export sales were probably in a range between 500,000 tons to 1 million tons in the week ended November 14, compared to 441,031 tons in the same week a year earlier.
Elsewhere on the CBOT, corn futures for December delivery traded at USD4.2013 a bushel, up 0.7%. The front-month December contract traded in a range between USD4.1688 a bushel, the daily low and a session high of USD4.2038 a bushel.
CBOT December corn settled 0.18% lower at USD4.1700 a bushel on Wednesday.
Corn prices have been on a downward trend in recent months amid expectations this year’s corn harvest in the U.S. will be the largest on record. The December contract fell to USD4.1060 a bushel earlier in the week, the lowest since August 18, 2010.
Meanwhile, wheat for December delivery traded at USD6.5000 a bushel, up 0.4%. Wheat prices traded in a range between USD6.4738 a bushel, the daily low and a session high of USD6.5013 a bushel.
The December contract ended down 0.46% on Wednesday to settle at USD6.4720 a bushel.
Wheat futures edged higher as potential production shortfalls in Argentina and Australia underpinned the market.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.