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MarketScreener Homepage  >  Futures  >  Chicago Board Of Trade - Floor  >  WHEAT FUTURES (W) - CBR (FLOOR)/C1       

WHEAT FUTURES (W) - CBR (FLOOR)/C1

End-of-day quote. End-of-day quote Chicago Board Of Trade - Floor - 10/23
520.75 USc   +0.53%
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GRAIN HIGHLIGHTS: Top Stories of the Day

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09/20/2019 | 05:46pm EDT

TOP STORIES:

Grain Traders Building Short Position in Corn -- Market Talk

16:30 ET - Managed money traders are building a short position in corn, while closing out short positions in soybeans, according to the CFTCs' latest commitment of traders data. Managed money opened up 21,295 short contracts in corn, according to the Friday report. This brought corn to a net short position of 176,643 contracts. Meanwhile, managed money closed 33,652 short contracts in soybeans, bringing soybeans to a net short of 45,162 contracts. Corn futures finished Friday down 0.5% to nearly $3.71 per bushel, while soybean futures fell 1.2% to nearly $8.83 per bushel. (kirk.maltais@wsj.com; @kirkmaltais)

Soybeans Finish Lower as Chinese Delegates Leave Early

Soybeans for November delivery fell 1.2% to $8.82 3/4 a bushel on the Chicago Board of Trade on Friday, following the cancellation of a farm visit by mid-level Chinese delegates. The trade delegation had planned to visit Montana farms as a goodwill gesture ahead of higher-level negotiations in October. Instead, the officials changed their travel plans. What this means for the trade talks isn't clear. "We need to know a lot more information about the long-term picture," Rich Nelson of Allendale Inc. said. "There's a lot of rhetoric coming out of the White House on this."

Harvest Results Becoming the New Focus for Grains Traders -- Market Talk

09:06 ET - With some farmers getting started on harvesting their grains now, traders and analysts are keen to see data coming out of these harvest. "The trade seems to have adapted the attitude that they are not going to react all that much too daily news and wait for actual harvest results," says Tomm Pfitzenmaier of Summit Commodity Brokerage. "The battle between the supply bulls and demand bears is likely to continue for a while." Weather looks stable going into October, Pfitzenmaier says, making frost a lesser concern for farmers. (kirk.maltais@wsj.com; @kirkmaltais)

STORIES OF INTEREST:

New H-2A Rules Benefit Farmers, Says Agriculture's Perdue -- Market Talk

08:48 ET - New rules presented by the US Department of Labor to modernize the H-2A visa process for foreign nationals to work as temporary agricultural workers was met with praise by Agriculture Secretary Sonny Perdue on Friday. "No one should have to hire a lawyer to hire a farm worker," Perdue says. The new rule removes the requirement to advertise a job opening in a print newspaper, instead shifting that requirement to Department of Labor and State Workforce Agency websites. Additionally, forms that were mailed to the Department of Labor can now be done online. The US agricultural economy has been struggling this year due to low crop prices and tough planting conditions, with farm bankruptcies hitting their highest level since 2012, according to the American Farm Bureau. (kirk.maltais@wsj.com; @kirkmaltais)

Farmers May Have to Wait Over a Year for New Trade Deal -- Market Talk

12:53 ET - Farmers may have to hold on for another year before a trade deal between the US and China is reached, President Trump says during a press conference. Trump, standing alongside Australian Prime Minister Scott Morrison, says his administration won't agree to a "partial" deal with China, and concedes he doesn't see a deal happening before the 2020 general election in November. For US farmers, that means another planting season with the same global market dynamics as this past spring, which is likely to be an untenable scenario for many farmers. (kirk.maltais@wsj.com; @kirkmaltais)

THE MARKETS:

Livestock Futures Finish Week Lower -- Market Talk

15:47 ET - Livestock futures end Friday on the downside, hog futures off 2.5% to 66.25 cents per pound while live cattle futures lose 0.6% to $1.0515 per pound. A lack of indication from the Chinese delegation--who left the US early instead of taking a previously planned farm tour in Montana--on any willingness to purchase more US meat has left livestock traders disappointed. "There were hopes that China would give an indication of elevated meat demand from the US but this did not happen," says Karl Setzer of AgriVisor. "The US is starting to see beef and pork supplies grow at a faster rate than demand which is weighing on futures." (kirk.maltais@wsj.com; @kirkmaltais)

Stocks mentioned in the article
ChangeLast1st jan.
BALL CORPORATION 0.32% 71.08 Delayed Quote.54.59%
CORN FUTURES (C) - CBR (FLOOR)/C1 -0.06% 387.75 End-of-day quote.4.27%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.02% 145.05 End-of-day quote.-2.57%
HARVEST 0.00% 87.5 Real-time Quote.2.34%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.00% 110.2 End-of-day quote.-11.70%
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 -1.61% 293 End-of-day quote.-4.31%
SOYBEAN OIL FUTURES (ZL) - CBE (ELECTRONIC)/C1 -0.24% 29.1 End-of-day quote.5.63%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 0.53% 520.75 End-of-day quote.5.76%
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