U.S. wheat futures turned higher on Wednesday as worries about crop prospects in top global exporter Russia sparked a round of short-covering, analysts said.
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U.S. grains: Wheat turns higher on Russia weather worries; soy, corn also rally
Rising CBOT soybeans facing resistance
Optimism over increased Chinese demand along with weather concerns in Brazil gave the Chicago soybean market a boost and triggered some fund short covering over the past week, but the futures will likely face stiff resistance to the upside going forward.
U.S. grains: Soybeans hit 2-month high before paring gains; corn, wheat sag
U.S. soybean and corn futures climbed to two-month highs on Tuesday, following broad gains in commodity and equity markets after China unveiled economic stimulus measures, but pared gains as forecasts called for improved crop weather in South America, analysts said.
U.S. grains: Soybeans climb on supply risks, short-covering; corn, wheat also up
Chicago Board of Trade soybean futures hit nearly a seven-week high on Monday as uncertainty about Brazilian planting weather and the size of the U.S. harvest sparked a round of fund-driven short-covering, analysts said.
U.S. grains: Chicago corn dips, soybeans steady on big expected yields
Chicago corn futures ticked down and soybean futures hovered near unchanged on Friday with seasonal harvest pressure on the rise.
U.S. grains: Wheat and corn ease on uninspiring export sales
Chicago corn and wheat futures ticked down on Thursday following lackluster export sales data released by the U.S. Department of Agriculture. Soybeans were dragged along for the ride despite more encouraging numbers, said analysts.
U.S. grains: Soy ticks up on drought concerns, traders eye US harvest
Soybean futures climbed on Wednesday on a round of short covering sparked by concerns over hot, dry weather in top producer Brazil that may threaten soybean seeding, traders said.
CBOT Weekly: Possible Chinese trade action of little concern
As price movement in soybeans on the Chicago Board of Trade continued to be a tussle between dry conditions in Brazil versus pressure from the United States harvest, Sean Lusk, vice-president of Walsh Commercial Hedging in Chicago, suggested not to pay much attention to any trade action China might soon take against U.S. soybeans.
U.S. grains: Wheat slips as concerns over Black Sea tensions fade
Chicago wheat futures eased on Tuesday as geopolitical tensions between Russia and Ukraine faded into the background and brisk exports of Black Sea wheat continued to pose tough competition to U.S. wheat exports, traders said.
U.S. grains: Wheat and corn slip on profit taking, soy also falls
Chicago wheat futures dipped from three-month highs on Monday on profit taking following the previous week's rally sparked by crop concerns in Europe and escalating tensions between Russia and Ukraine, traders said.
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