Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Wheat hits near three-week high on USDA's crop quality downgrade

11/24/2020 | 10:13pm EST

SYDNEY, Nov 25 (Reuters) - U.S. wheat futures rose more than 0.5% on Wednesday to hit a near three-week high, as a crop quality downgrade by the U.S. Department of Agriculture (USDA) stoked concerns about global supplies.


* * The most active wheat futures contract on the Chicago Board Of Trade was up 0.6% at $6.21-1/3 a bushel by 0251 GMT, after hitting $6.22-1/4 a bushel earlier in the session, its highest since Nov. 5. Wheat closed up 2.2% on Tuesday.

* The most active soybean futures were up 0.5% to $11.97-1/2 a bushel, after firming 0.5% on Tuesday. Soybeans hit a June 2016 high of $12.00 a bushel on Monday.

* The most active corn futures were up 0.5% to $4.34-1/2 a bushel, after closing down 0.2% in the previous session.

* The USDA late on Monday rated 43% of the U.S. winter wheat crop in good to excellent condition, down from 46% a week earlier and bucking analyst expectations for an improvement.


* The dollar nursed losses as progress in developing a novel coronavirus vaccine and expectations for a fiscal boost from a new U.S. government triggered a shift of funds from the greenback to riskier assets.

* U.S. oil edged lower, after an industry report showed crude stockpiles in the United States rose against expectations, tempering a rally driven by news that another vaccine against COVID-19 had proved effective in trials.

* Asian stocks made early gains, following a world rally overnight that saw the Dow Jones benchmark crack 30,000 for the first time as investors cheered a dramatically improved global outlook.

(Reporting by Colin Packham; Editing by Rashmi Aich)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CORN FUTURES (C) - CBR (FLOOR)/C1 0.33% 534 End-of-day quote.5.68%
LONDON BRENT OIL -0.04% 55.51 Delayed Quote.7.08%
SOYBEAN MEAL FUTURES (ZM) - CBE (ELECTRONIC)/C1 0.00% 436.5 End-of-day quote.-2.95%
SOYBEAN OIL FUTURES (ZL) - CBE (ELECTRONIC)/C1 1.55% 44.59 End-of-day quote.-0.90%
WHEAT FUTURES (W) - CBR (FLOOR)/C1 -1.05% 658.25 End-of-day quote.1.25%
WTI 0.37% 52.586 Delayed Quote.8.49%
Latest news "Economy & Forex"
05:58pCastle Hall Issues Cybersecurity Due Diligence White Paper For Investors, Highlighting Cyber Lessons From 2020
05:57pFACTBOX : Stocks shunned by Wall Street surge as 'GameStop Effect' snowballs
05:53pCommunications Services Down As Investors Retreat From Growth Sectors -- Communications Services Roundup
05:50pTech Down Amid Mega Cap Earnings Nerves -- Tech Roundup
05:48pFinancials Down As Wall Street Watches Day Traders Battle Hedge Funds -- Financials Roundup
05:47pFed Holds Policy Steady as Economy Stumbles -- 4th Update
05:46pConsumer Cos Down Amid Erratic Trading Of GameStop Shares -- Consumer Roundup
05:36pHealth Care Down On Risk Aversion -- Health Care Roundup
05:30pIndustrials Down After Fed Comments, Boeing Earnings -- Industrials Roundup
05:13pStocks tumble on recovery fears; dollar climbs
Latest news "Economy & Forex"