Edition:
United Kingdom

Julie Ingwersen

LIVESTOCK-CME lean hog futures dive as U.S.-China trade war heats up

23 Aug 2019

CHICAGO, Aug 23 Chicago Mercantile Exchange lean hog futures tumbled on Friday, with the benchmark October contract falling its daily 3-cent limit after China announced a fresh set of tariffs on U.S. agricultural products, traders said.

LIVESTOCK-CME cattle futures extend climb on robust packer margins

23 Aug 2019

CHICAGO, Aug 22 Chicago Mercantile Exchange live cattle futures advanced for a fourth straight session on Thursday, led by the nearby August contract as robust profit margins for beef packers fueled expectations of strong demand for cash cattle, traders said.

LIVESTOCK-CME cattle futures rise on strong beef demand; lean hogs sag

21 Aug 2019

CHICAGO, Aug 21 Chicago Mercantile Exchange live cattle futures closed higher on Wednesday for a third session as strong demand for beef ahead of the Labor Day holiday bolstered margins for meat packers, traders said.

LIVESTOCK-CME live cattle futures climb on robust wholesale beef demand

20 Aug 2019

CHICAGO, Aug 20 Chicago Mercantile Exchange live cattle futures closed higher on Tuesday for a second session, supported by strong wholesale beef demand ahead of the U.S. Labor Day holiday weekend, analysts said.

LIVESTOCK-CME cattle futures rise on larger-than-expected weekly slaughter

19 Aug 2019

CHICAGO, Aug 19 Chicago Mercantile Exchange live cattle futures closed higher on Monday after U.S. government data showed last week's hog slaughter was bigger than the previous week's, despite a fire that shuttered a Kansas beef plant.

GRAINS-Corn, soybean futures slide on beneficial U.S. weekend rains

19 Aug 2019

(Updates with closing U.S. prices, weekly USDA crop progress data) By Julie Ingwersen CHICAGO, Aug 19 U.S. corn futures fell 1.6% on Monday and soybean futures also declined after much-needed rains crossed dry areas of the Corn Belt over the weekend, bolstering crop production prospects, analysts said. Wheat followed the softer trend. Chicago Board of Trade December corn settled down 6-1/4 cents at $3.74-1/2 per bushel, but remained inside of Friday's trading range. CBOT November soybeans ended down 13-1/4 cents at $8.66-1/2 a bushel and December wheat finished down 5 cents at $4.72-1/2 a bushel. Corn led the way down after weekend storms brought rain to Minnesota, southern Iowa, western Missouri and eastern Kansas, along with parts of Illinois, Indiana and Ohio. "The rain exceeded expectations in most areas, particularly in the western Midwest, improving conditions for corn and soybean growth," space technology company Maxar said in a note to clients. The weekend showers, coupled with forecasts for more rain this week, put the focus back on prospects for hefty U.S. supplies. "So today is about taking risk premium out of the market," said Don Roose, president of Iowa-based U.S. Commodities. After the CBOT close, the U.S. Department of Agriculture in a weekly crop progress report rated 56% of the U.S. corn crop and 53% of U.S. soybeans in good to excellent condition, down from 57% and 54%, respectively, a week earlier. Analysts surveyed by Reuters on average had expected no change for ratings of either crop. Traders awaited clues on harvest prospects from the Pro Farmer Midwest Crop Tour, which began scouting fields on Monday. The annual tour is expected to release corn yield estimates for Ohio and South Dakota later on Monday. Scouts travelling one route in northwestern Ohio on Monday found corn yield potential was below average after a wet spring delayed plantings. The tour concludes on Thursday night in Minnesota after scouting fields in seven states, and Pro Farmer editors are scheduled to release their U.S. corn and soybean crop estimates on Friday. Some analysts say any downward revisions to crop expectations could have limited price impact given large global supplies and the U.S.-China trade tussle, which has curbed U.S. soybean exports. "Amid the ongoing trade disputes between the U.S. and China, high stocks and the expectation of a high South American crop, many market participants see no reason to believe in any lasting price recovery," Commerzbank said in a note. U.S. President Donald Trump said on Sunday he was not yet ready to reach a trade deal with Beijing, citing a buoyant U.S. economy. CBOT settlement prices: Net Pct Volume Last change change CBOT wheat WZ9 472.50 -5.00 -1.0 49683 CBOT corn CZ9 374.50 -6.25 -1.6 139996 CBOT soybeans SX9 866.50 -13.25 -1.5 64555 CBOT soymeal SMZ9 297.20 -3.10 -1.0 28255 CBOT soyoil BOZ9 29.04 -0.47 -1.6 49168 NOTE: CBOT December wheat and corn and November soybeans shown in cents per bushel, December soymeal in dollars per short ton and December soyoil in cents per lb. (Reporting by Julie Ingwersen in Chicago Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore Editing by Matthew Lewis and Sandra Maler)

GRAINS-Corn, soybean futures slide on beneficial U.S. weekend rains

19 Aug 2019

(Recasts with latest activity, updates prices, adds analyst comments, changes dateline from PARIS/SINGAPORE) By Julie Ingwersen CHICAGO, Aug 19 U.S. corn futures fell about 1.5% on Monday and soybean futures also declined after much-needed rains crossed dry areas of the Corn Belt over the weekend, bringing welcome moisture to developing crops, analysts said. Wheat followed the softer trend. As of 12:33 p.m. CDT (1733 GMT), Chicago Board of Trade December corn was down 5-3/4 cents at $3.75 per bushel, but remained inside of Friday's trading range. CBOT November soybeans were down 13-1/2 cents at $8.66-1/4 per bushel and December wheat was down 3-3/4 cents at $4.73-3/4 a bushel. Corn led the way down after weekend storms brought rain to Minnesota, southern Iowa, western Missouri and eastern Kansas, along with parts of Illinois, Indiana and Ohio. "The rain exceeded expectations in most areas, particularly in the western Midwest, improving conditions for corn and soybean growth," space technology company Maxar said in a note to clients. The weekend showers, coupled with forecasts for more rain this week, put the focus back on prospects for hefty U.S. supplies. "So today is about taking risk premium out of the market," said Don Roose, president of Iowa-based U.S. Commodities. Ahead of the U.S. Department of Agriculture's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to leave its crop ratings unchanged from last week, with 57% of the U.S. corn crop and 54% of the soybean crop in good to excellent condition. Traders also await clues on harvest prospects from the Pro Farmer Midwest Crop Tour, which began scouting fields on Monday. The annual tour is expected to release corn yield estimates for Ohio and South Dakota later on Monday. Scouts travelling one route in northwestern Ohio on Monday found corn yield potential was below average after a wet spring delayed plantings. The tour concludes on Thursday night in Minnesota after scouting fields in seven states, and Pro Farmer editors are scheduled to release their U.S. corn and soybean crop estimates on Friday. Some analysts say any downward revisions to U.S. crop expectations could have limited price impact given large global supplies and the U.S.-China trade tussle, which has curbed U.S. soybean exports. "Amid the ongoing trade disputes between the U.S. and China, high stocks and the expectation of a high South American crop, many market participants see no reason to believe in any lasting price recovery," Commerzbank said in a note. U.S. President Donald Trump said on Sunday he was not yet ready to reach a trade deal with Beijing, citing a buoyant U.S. economy. CBOT prices as of 12:31 p.m. CDT (1731 GMT): Net Pct Volume Last change change CBOT wheat WZ9 473.50 -4.00 -0.8 36613 CBOT corn CZ9 375.00 -5.75 -1.5 115200 CBOT soybeans SX9 866.25 -13.50 -1.5 50370 CBOT soymeal SMZ9 297.20 -3.10 -1.0 22527 CBOT soyoil BOZ9 29.00 -0.51 -1.7 43088 NOTE: CBOT December wheat and corn and November soybeans shown in cents per bushel, December soymeal in dollars per short ton and December soyoil in cents per lb. (Reporting by Julie Ingwersen in Chicago Additional reporting by Gus Trompiz in Paris and Naveen Thukral in Singapore Editing by David Goodman and Matthew Lewis)

LIVESTOCK-CME lean hogs record biggest one-week climb since April

12 Jul 2019

CHICAGO, July 12 Chicago Mercantile Exchange (CME) lean hog futures closed higher on Friday and the most-active August contract recorded its biggest weekly gain since April, supported by expectations of thinning U.S. hog supplies, traders said.

LIVESTOCK-CME lean hogs end lower, snapping two-session climb

11 Jul 2019

CHICAGO, July 11 Chicago Mercantile Exchange (CME) lean hog futures fell about 3% on Thursday on sluggish cash markets, traders said, retreating after a two-session surge that lifted the August contract to a near-three-week high a day earlier.

LIVESTOCK-CME lean hogs climb on technical buying, firmer cash hogs

11 Jul 2019

CHICAGO, July 10 Chicago Mercantile Exchange (CME) lean hog futures neared a three-week high on Wednesday, buoyed by a mix of technical buying and ideas that a glut of U.S. hog supplies was showing signs of tightening, traders said.

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