|
|
|
→ IKAR in Mass Media → #509 IKAR in Mass MediaSoybeans edge toward record high on tight supply21 августа 2012 года SYDNEY, Aug 21 (Reuters) - U.S soybeans rose on Tuesday, rising for a third consecutive session, as the oilseed edged towards a record high for the new crop contract on continuing worries about crop damage from the U.S. drought. FUNDAMENTALS * Chicago Board of Trade November soybeans rose 0.16 percent to $16.86-1/4 a bushel, just below the record top for the contract of $16.91-1/2 a bushel set on July 21. New-crop soybeans closed up 2.3 percent on Monday. * New-crop corn fell 0.12 percent to $8.22-3/4 a bushel after firming 2 percent to its highest since July 20 in the previous session. * December wheat fell slightly to $9.02-1/4 a bushel, having closed up 0.9 percent on Monday. * The U.S. Department of Agriculture said soybeans were rated 31 percent good to excellent, up 1 percent from a week earlier due to spotty rainfall in some areas east of the Mississippi River. The ratings, which have improved for two weeks in a row after six weeks of declines, matched expectations in a Reuters survey of 13 analysts. * Soybeans rated poor to very poor improved to 37 percent from 38 percent a week ago. * USDA said that the corn crop was rated 23 percent good to excellent, unchanged from a week ago and in line with market expectations for the drought-stricken crop. Crop conditions have stabilized during the past two weeks after free falling throughout the summer due to the drought but the crop still had the worst ratings since 1988. * USDA said that 51 percent of the corn was rated poor to very poor, unchanged from a week earlier. * USDA crop progress report said 4 percent of the corn crop had been harvested by Sunday to make for the fastest harvest on record. * Farmers in Missouri -- the No 10 corn state which produced 350 million bushels last year and bore the brunt of the drought had harvested 18 percent of their crop, compared with 2 percent a year ago. In No 8 state Kansas which produced 449 million last year, the harvest was 17 percent complete. * Scouts on the Pro Farmer crop tour pegged corn yield at 97.8 bushels per acre through the first five stops of one route in Pickaway, Fayette, Madison, Clark and Champaign counties in Ohio. * After surveying five corn fields in southwest South Dakota, the average corn yield was pegged at 50 bushels per acre, compared with 127.8 bushels a year ago and the three-year average of 140.9 bushels. * The U.S. Environmental Protection Agency on Monday said it has begun weighing requests to suspend the U.S. ethanol mandate, which requires refiners to blend ethanol into gasoline, and is seeking public feedback. * Russia's two main grain market analyst groups cut their 2012 grain and wheat harvest forecasts on Monday after the start of harvesting campaigns in the Urals and Siberia showed weak crop prospects. SovEcon agricultural analysts said they have narrowed their grain forecast to 71-72.5 million tonnes from previous 70-74 million tonnes. SovEcon has also cut wheat harvest forecast to 39-41 million tonnes from earlier 40.5-42.5 million tonnes. The Institute for Agricultural Market Studies (IKAR) has cut 2012 grain crop forecast to 73 million tonnes from previously expected 75.4 million tonnes and said it sees a possibility of further downgrade. It has not yet estimated wheat harvest, it said. MARKET NEWS * The euro rose modestly against the dollar on Monday in subdued summer trade as uncertainty about the scope of possible European Central Bank action to contain the region's debt crisis had investors refraining from making large bets. * Oil prices slipped on Monday in choppy trading as investors worried about the European Central Bank's ability to address the euro zone debt crisis, while tight North Sea supplies and Middle East turmoil limited losses. * U.S. stocks were flat on Monday on signs of fatigue after a six-week run of gains as the European Central Bank quelled speculation about the form of market intervention that may be taken to stem the region's debt crisis. Grains prices at 0047 GMT Contract Last Change Pct chg Two-day chg MA 30 RSI CBOT wheat 902.25 -0.50 -0.06% -1.18% 874.48 55 CBOT corn 822.75 -1.00 -0.12% -0.12% 769.33 62 CBOT soy 1686.25 2.75 +0.16% +2.46% 1611.97 62 CBOT rice $15.59 -$0.01 -0.03% -2.07% $15.49 54 WTI crude $95.92 -$0.05 -0.05% -0.09% $91.02 78 Currencies Euro/dlr $1.235 $0.001 +0.07% +0.15% USD/AUD 1.046 0.001 +0.12% +0.37% Source: Reuters | #grain | Comments: 0 Views: 54
|
© 2002—2024 IKAR. Institute for Agricultural Market Studies 24, Ryazansky str., off. 604, Moscow, Russia Tel: +7 (495) 232-9007 www@ikar.ru |
||