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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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End-of-day quote. End-of-day quote Chicago Board Of Trade - 03/19
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GRAIN HIGHLIGHTS : Top Stories of the Day

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03/15/2019 | 05:49pm EDT

TOP STORIES:

 
Wheat, Soybean Prices Higher on Midwest Flooding, China Expectations 

Wheat for May delivery rose 2.1% to $4.61 1/2 a bushel on the Chicago Board of Trade on Friday on expectations that flooding in the Midwest and a messy spring would reduce supplies. The "bomb cyclone" that dropped tremendous amounts of snow and rain in the West and Midwest is causing flooding in the Midwest states. "With the funds shorting the markets in a big way, the flooding issues/late planting concerns and the prospects of a U.S.-China trade deal, the market has a bullish bias," said Craig Turner of Daniels Trading. "The wheat, soybean and corn spreads are all getting stronger."

 
Funds Build Larger Short Position on Corn -- Market Talk 

15:56 ET - Investment funds have added 79,488 contracts their short position on corn futures, while dropping 10,646 long contracts, according to the CFTC's Commitment of Traders data released this afternoon. To a lesser extent, managed money also added to its short position on soybeans by 37,724 contract, while dropping 4,570 long contracts. Market participants say that such activity is unusual for this time of the year, suggesting that big funds wanted to hedge their bets in the event that a US/China trade deal is not signed. (kirk.maltais@wsj.com; @kirkmaltais)

STORIES OF INTEREST:

 
ADM Adds New Flavors in Nutrition Buildup -- Market Talk 

0928 ET - Archer Daniels Midland made its name in Midwestern farm staples like corn and soybeans, but the Chicago company's push for improved margins has given it a taste for tropical flavors. ADM strikes a deal for Ziegler Group, a European citrus flavor developer, shortly after wrapping up a separate small-scale deal purchase of citrus flavor firm Florida Chemical. Flavorings for ADM represent a higher-profit, more-stable business line versus its more commodity markets-exposed grain trading and processing operations. But the nutrition segment's still a small part of ADM's overall business, representing 10% of profits in 2018 and about 6% of total sales. (jacob.bunge@wsj.com; @jacobbunge)

 
Soybean Crush Report Gives Mixed Picture -- Market Talk 

12:50 ET - The National Oilseed Processors Association has released its soybean crush report, which reveals 154.5M bushels of soybeans were crushed in February, down approximately 4M bushels from traders' consensus forecast. Inventories of oil, however, grew to 1.75B pounds, 140M higher than expected. "Crush (was) below expectations," says Terry Reilly of Futures International. "Soybean oil stocks (were) a little heavy." However, soymeal exports totaled 785,000 tons, 30,000 more than February of last year. The report did little to move May soybean futures on the CBOT, with the contract trading 0.9% higher. (kirk.maltais@wsj.com; @kirkmaltais)

THE MARKETS:

 
Hog Futures Up Over 8% Since Chinese Buy -- Market Talk 

15:35 ET - With today's 4.6% uptick of the April lean hog CME contract, bringing it to 68.6 cents per pound, hog futures have risen 8.3% since the news that China had made its largest purchase of US pork in two years came out of the USDA's weekly export report. Today's uptick brings hog futures up to its highest level since early January. Meanwhile, live cattle futures rode the hog futures' momentum higher, finishing trading on the CME up 1.3%, at $1.291 per pound. No real news impacted beef specifically, although the flooding in the Midwest is expected to create a constraint on cattle supply. (kirk.maltais@wsj.com; @kirkmaltais)

Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (ZC) - CBE (ELECTRONIC)/C1 -0.07% 371.25 End-of-day quote.-0.93%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 -0.05% 456.5 End-of-day quote.-8.15%
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