• IKAR in Mass Media

 

 → IKAR in Mass Media → #368

IKAR in Mass Media

Grains Called Higher on U.S. Crop-Rating Cuts; Soy May Gain

30 августа 2011 года

Aug. 9 (Bloomberg) -- What follows are opening calls for U.S. grain and oilseed markets.

-- Corn futures are called to open 2 cents to 4 cents a bushel higher on the Chicago Board of Trade after the U.S. said crop conditions deteriorated for the third time in four weeks following a July heat wave, signaling tightening supplies in 2012, Jim Gerlach, the president of A/C Trading Inc. in Fowler, Indiana, said in a telephone interview.

-- Wheat futures may open 2 cents to 5 cents a bushel higher on the CBOT, the Kansas City Board of Trade and the Minneapolis Grain Exchange as U.S. spring-crop conditions worsened, Gerlach said.

-- Soybean futures may open 1 cent to 3 cents a bushel higher in Chicago as U.S. stock-index futures rebounded, boosting prospects for commodities, Gerlach said. Soybean-oil futures are expected to open steady to up 0.1 cent a pound, and soybean-meal futures may open $2 to $3 higher for 2,000 pounds.

-- U.S. stocks rose, rebounding from the biggest drop since 2008, and Treasuries fell as investors speculated that the Federal Reserve may signal plans to safeguard the economic recovery. European shares swung between gains and losses, and the Swiss franc strengthened. Gold extended a rally to a record.

-- Federal Reserve officials may strengthen their commitment to record monetary stimulus as soon as today after a faltering economic recovery and a U.S. credit-rating cut provoked a rout in global stocks.

-- China's inflation accelerated to the fastest pace in three years in July, limiting the scope for monetary easing to support growth as plunging stock markets signal the global recovery is weakening.

-- Measures that gauge the level of reluctance by European banks to lend to one another are approaching levels unseen since the aftermath of Lehman Brothers Holdings Inc.'s collapse.

-- Commodities may outperform equities for the rest of the year because of record demand and shortages, Barclays Capital said.

-- President Barack Obama and House Republican leaders showed no sign of backing off their stances on how to cut the federal deficit.

-- The productivity of U.S. workers dropped from April through June for the second consecutive quarter, pushing labor costs up from 2010's record low.

-- The worst Texas drought in more than a century has left cotton-crop conditions that rival the Dust Bowl of the early 1930s, forcing farmers to abandon more fields than ever before.

-- U.S. hay, the country's third-largest crop, is now cheaper to ship to China than to farmers in central California, compounding shortages that mean record prices for the dairy industry.

-- Canadian farmer Richard Phillips says he expects a jump in exports to Colombia for the wheat he grows in Saskatchewan, and he has trade fights in Washington to thank for it.

-- U.S. exporters sold 25,000 metric tons of soybean oil to unknown destinations for delivery before Sept. 30, the Department of Agriculture said.

-- Crude oil rose from lowest in more than 10 months in New York amid speculation that the Fed may strengthen its commitment to monetary stimulus.

-- The Organization of Petroleum Exporting Countries cut its oil demand forecasts for 2011 and next year as the global economic recovery loses momentum.

-- Global food prices last month probably ``stayed close'' to the level of June, providing little relief for importers after costs surged and prompted central banks to raise interest rates, according to the United Nations Food and Agriculture Organization.

-- The United Nations' World Food Programme said its appeal for funds to fight the famine in the Horn of Africa region remains $250 million short of current needs.

-- Russia's grain crop will be 90 million to 92 million tons in the year that started July 1, and exports may exceed 20 million tons, the Institute for Agricultural Market Studies said.

-- China sold all of the 16,499 tons of corn offered from reserves through a so-called inter-province stock transfer program in auctions at an average price of 2,028 yuan a ton, the National Grain & Oil Trade Center said.

-- Japan is seeking to buy 135,846 tons of milling wheat in a regular tender on Aug. 11.

-- Palm-oil futures in Kuala Lumpur slumped to the lowest in nine months as the global rout in equities and crude oil deepened on concern the loss of the U.S.'s AAA rating will exacerbate a slowing global economy.

-- Rice production in India may climb this year as normal monsoon rains help farmers boost sowing, Farm Minister Sharad Pawar said.

-- Rice surged by the daily maximum in its first trade since being listed yesterday in Tokyo for the first time in 72 years on concern that radiation from a crippled nuclear plant may spread to crops and curb supply.

Source: Bloomberg  |  #grain   |  Comments: 0   Views: 44

There are no comments yet. Be the first!

Only authorized users can comment.