GFM Network News

U.S. soy up on Brazil weather

U.S. soybean futures rose to their highest level in nearly two weeks on Monday as investors raised risk premiums amid concerns over dry weather in parts of southern Brazil, with prices extending their biggest weekly gain in three months. After the worst drought in half a century slashed the size of this year’s crop in […] Read more

U.S. soy erases gains as greenback rallies

U.S. soybeans erased the day’s gains to end slightly lower on Tuesday before a key U.S. government crop report as a rally in the dollar overwhelmed expectations that a move by China to stimulate the economy could increase demand. Technical buying had supported the benchmark November contract — which has tumbled 13 per cent from […] Read more

U.S. corn, soy fall on harvest pressure

Corn and soybeans ended lower on Monday amid the advancing harvest and traders positioning themselves before Thursday’s U.S. supply-demand report that could inject new life into markets languishing after a record-setting drought rally. Analysts said corn and soybeans were also pressured by a strengthening of the dollar, which found favour with investors seeking safe havens […] Read more

U.S. grains tumble on European debt jitters

U.S. grains tumbled on Wednesday, and soybeans sank below US$16 a bushel to their lowest price in nearly three months as worries about Europe’s debt crisis had investors scrambling for safe-haven assets like U.S. Treasury bonds. The declines were accentuated as hedge funds booked profits ahead of the end of the month and quarter. Corn […] Read more

U.S. soy ends with minor gains after seesaw action

U.S. soybeans ended marginally higher on Tuesday after a seesaw session which saw talk of end-user demand and a weaker dollar lend support, though gains were limited by an advancing Midwest harvest and accounts of good yields. Futures rebounded from six-week lows in Asian trading and kept the momentum into the Chicago session up to […] Read more

U.S. soy dives below $16 before bounce

Soybeans fell below US$16 a bushel on Monday for the first time in 11 weeks, as the harvest advanced at a record pace and investors worried about the economy fled to the dollar, but bargain buying pared losses from the session low. The benchmark November soybean contract at the Chicago Board of Trade (CBOT) dropped […] Read more

U.S. crops’ drought rally primed for correction

Soybeans fell 1.7 per cent on Tuesday for their biggest two-day selloff in seven weeks as a record pace in the harvest and expectations of improved yields following late summer rains suggested the market may have seen its 2012 highs. Analysts monitored technical charts for any sign that the market will repeat what it did […] Read more

U.S. soy posts biggest drop in a year

U.S. soybean futures tumbled by the daily trading limit on Monday, posting their biggest percentage drop in nearly one year, on selling sparked by anecdotal accounts of better-than-expected yields in the Midwest farm belt. Corn at the Chicago Board of Trade (CBOT) tumbled to a more than two-month low while wheat sank five per cent […] Read more

U.S. corn closes at two-month low on USDA data

U.S. corn futures tumbled one per cent to close at a two-month low on Wednesday as the U.S. government’s monthly assessment of crop damage from the worst drought in half a century fell short of trade expectations, as did its estimate of buffer stocks. Soybean futures soared 2.6 per cent for the biggest daily gain […] Read more