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MarketScreener Homepage  >  Futures  >  Chicago Board Of Trade  >  WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1       

WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1
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516.75 USc   -0.19%
01/18GRAIN HIGHLIGHTS : Top Stories of the Day
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01/18Grains Close Week on a High Note -- Update
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01/18Grains Close Week on a High Note
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GRAIN HIGHLIGHTS : Top Stories of the Day

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01/11/2019 | 05:31pm EST

TOP STORIES:

Grain Market Finishes Week on Up Note, Wheat Price Draws Attention

Wheat contracts for March delivery rose 1.1% to $5.19 1/2 a bushel at the Chicago Board of Trade Friday. Corn contracts up for March delivery rose 0.5% to $3.78 1/4 a bushel. March soybean contracts rose 0.4% to $9.10 1/4 a bushel.

Competitive US Wheat Price Attracts Investors -- Market Talk

10:46 ET - Low US wheat prices compared to a tightening world market has gotten investors' attention today, as the March CBOT wheat contract is up 1.5% to begin trading this morning, leading the grains complex. With US wheat being approximately $1.50 per bushel cheaper than its Black Sea equivalent for March, some investors see an opportunity to get in the market, especially considering the tightness believed to be besetting Russian wheat supplies. "US wheat prices got down to levels that make them very competitive with the world market," says Don Roose of US Commodities. Meanwhile, corn futures for March are up 0.5%, and March soybean futures are up 0.3%. (kirk.maltais@wsj.com, @kirkmaltais)

No WASDE Keeps Grains in the Dark -- Market Talk

10:53 ET - The US grains markets are in the dark today, as the USDA's World Agricultural Supply and Demand Estimates (WASDE) report that was scheduled for release today will not come out, thanks to the ongoing government shutdown keeping USDA data reports on hiatus. "For what it's worth we were expecting the USDA to report lower winter wheat acres, lower corn yields, higher corn exports, lower corn ending stocks, and a very large soybean carryout," says Craig Turner of Daniels Trading. In lieu of USDA data, traders and analysts have been relying on data from private companies and other nations to create a picture of the world's supply, such as the Conab report from Brazil released yesterday. (kirk.maltais@wsj.com, @kirkmaltais)

STORIES OF INTEREST:

Fitch: Soybeans to Lead Grain Price Rise This Year -- Market Tal

09:00 ET - Fitch Solutions expects that average yearly prices for corn, wheat, and soybeans will all move up in 2019, although the outlook hinges on the success of the trade negotiations between the US and China. However, if China returns to buying US soybean exports and dry weather continues to impact crops in Brazil, then prices should rise, Fitch says. Of the three, Fitch expects soybeans to be the biggest gainer -- with average 2019 prices jumping to $10 per bushel, up 8.8% from the 2018 average of $9.19 per bushel. The March soybean contract on the CBOT closed down 1.9% yesterday, to $9.06 3/4 a bushel. (kirk.maltais@wsj.com; @kirkmaltais)

Brazil 2018-2019 Soybean Harvest to Decline on Dry Weather -- Market Talk

10:30 ET - Brazil's soybean crop for the 2018-2019 growing season will fall to 115.7 million metric tons, down from 120.8 million tons in 2017-2018, because of dry weather in the states of Parana and Mato Grosso do Sul, according to consultancy Safras & Mercado. The group had previously forecast a harvest of 122.2 million tons for 2018-2019. Crops that had been planted early suffered the most because they were at a stage of development when they needed plenty of moisture when the dry weather hit, and much of the loss that resulted is probably irreversible, according to Safras analyst Luiz Fernando Roque. Safras also cut its forecast for corn production for 2018-2019, to 93.4 million tons from its previous forecast of 94.9 million tons. (jeffrey.lewis@wsj.com)

Argentina Soybean Planting Almost Finished -- Market Talk

13:46 ET - Argentine soybean farmers have finished planting on 96.1% of the area expected to be sown with the crop, according to the Buenos Aires Grain Exchange. Weather conditions have generally been good and in some areas the outlook is excellent, though some areas suffered from too much rain, the exchange says. Work to plant corn is 86.1% finished, according to the exchange. There has been sufficient precipitation in many areas, but the rain has slowed planting in other areas, the exchange says. (jeffrey.lewis@wsj.com)

THE MARKETS:

Hogs Close Down, Cattle Nudges Up -- Market Talk

15:01 ET - Lean hog futures for February close trading down 2.2%, at 62.65 cents a pound. With Friday's close, hog futures erased most of their gains from the past two days amid concerns about traders' inability to accurately assess the hog market while the government is shut down. Meanwhile, live cattle futures for February barely stayed afloat, closing up 0.1% for the day, at $1.24975 a pound. (kirk.maltais@wsj.com; @kirkmaltais)

Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (ZC) - CBE (ELECTRONIC)/C1 0.20% 380.75 End-of-day quote.1.33%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 -0.19% 516.75 End-of-day quote.2.68%
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