Wheat Futures Higher on Freeze Concerns
Grain and soybean futures started the year with a bounce, helped higher by concerns over weather in the Americas.
Contracts for winter wheat led gains as traders fretted that freezing temperatures in the central U.S. had damaged the crop.
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November Soybean Crush Eases From October -- Market Talk
15:53 ET - Soybean processors crushed less oilseed in November than a month earlier, according to the USDA. They processed 173M bushels, down from 176M in October. That was above the same time a year earlier, however, when processors crushed 171M bushels. A strong rate of soybean crushing has been a bright spot for oilseed demand amid disappointing exports in the 2017-18 crop season. Stocks of crude soybean oil at the end of the November rose to 1.379B pounds from 1.3B a month earlier. ([email protected]; @b_parkyn)
Plant-Based Milk Beverages Gaining Shelf Space -- Market Talk
11:16 ET - Competition from new alternatives to conventional dairy, including milk from grass-fed cows and nondairy options like almond and cashew "milk," is growing as consumers increasingly perceive it as being healthier. Kroger is shifting more shelf space from organic milk to nondairy and plant-based alternatives. Wal-Mart officials say they have seen demand for plant-based beverages grow, while organic milk isn't on the same upswing that it once was. ([email protected]; @heatherhaddon)
Cattle Futures Climb Into 2018
Cattle futures resumed a rally from last week as traders followed cash prices higher.
The futures market had rallied to a multi-week high last week before falling in the final trading session of 2017. Live cattle futures for February rose 1.5% to $1.2335 a pound when they resumed trading at the Chicago Mercantile Exchange on Tuesday. Contracts for feeder cattle were also higher.