Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Futures  >  Chicago Board Of Trade  >  CORN FUTURES (ZC) - CBE (ELECTRONIC)/C1       

End-of-day quote. End-of-day quote  - 08/18
351.25 USc   +0.21%
08/18DJGRAIN HIGHLIGHT : Top Stories of the Day
08/18DJGrain, Soybean Futures Rise Ahead of Crop Tour
08/17DJGRAIN HIGHLIGHT : Top Stories of the Day
SummaryQuotesChartsNewsAnalysis 
News SummaryAll newsTweets

Wheat Falls to Seven-Week Low on Wet Weather

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/20/2017 | 09:13pm CEST
   By Benjamin Parkin 
 

CHICAGO--Wheat futures fell to a seven-week low as traders worried that improving U.S. weather prospects would exacerbate a glut and keep prices down.

May wheat futures dropped 1.4% to $4.30 1/4 a bushel during Monday's session at the Chicago Board of Trade, undoing gains made overnight to fall to the lowest close since Jan. 30.

Erratic weather in major wheat growing regions sparked bets that the nascent crop would suffer some disruption, but favorable forecasts for the coming weeks have traders backtracking.

A spell of hot, dry weather earlier this year prompted some wheat to come out of dormancy early; a cold snap last week damaged some of that crop. But wet weather this week and next could now help to offset any disturbance, analysts said.

With supplies at multiyear highs, traders have soured on the grain. Government data released Friday showed that speculative funds extended their bets that wheat prices would fall. Funds increased their net short positions in wheat, according to the Commitment of Traders report, and entered one in corn.

That prompted traders to buy corn futures overnight on thoughts that they were oversold, but those gains were reversed in Monday's session. CBOT May corn futures fell 1.1% to $3.63 1/2 a bushel. Corn has suffered on the prospect of a large South American crop, with Argentina's harvest underway.

Soybean futures moderated, falling 0.1% to $9.99 1/2 a bushel.

Write to Benjamin Parkin at benjamin.parkin@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CORN FUTURES (ZC) - CBE (E
08/18DJGRAIN HIGHLIGHTS : Top Stories of the Day
08/18DJGrain, Soybean Futures Rise Ahead of Crop Tour
08/17DJGRAIN HIGHLIGHTS : Top Stories of the Day
08/17DJSoybean Futures Climb on Export Strength
08/16DJGRAIN HIGHLIGHTS : Top Stories of the Day
08/16DJGrain Futures Touch Fresh Lows
08/16DJFood Makers Grab Up Chicago Property -- WSJ
08/15DJGRAIN HIGHLIGHTS : Top Stories of the Day
08/15DJCorn Futures Sink to Multimonth Low on Better Crop Conditions
08/15DJChicago Property Market Heats Up as Food Companies Pile In
More news
Chart CORN FUTURES (ZC) - CBE (E
Duration : Period :
CORN FUTURES (ZC) - CBE (E Technical Analysis Chart | 4-Traders
Technical analysis trends CORN FUTURES (ZC) - CBE (E
Short TermMid-TermLong Term
TrendsBearishBearishNeutral