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Tampilkan postingan dengan label corn future prices. Tampilkan semua postingan
Tampilkan postingan dengan label corn future prices. Tampilkan semua postingan
00.15
December Corn Future on Chicago Board Trade Jump 30 Cent
Written By mine on Sabtu, 13 Agustus 2011 | 00.15
December corn futures on the Chicago Board of Trade opened by jumping 30 cents, the maximum daily increase allowed, to $7.18 a bushel. Trading ended the day at $7.14. Soybean futures for the November contract opened at $13.53 a bushel, an increase of $0.52. The contract closed at $13.32. Wheat prices also rose, with the September futures contract on the Kansas City Board of Trade closing at $8.08 a bushel, a gain of $0.23.
?The markets over the past couple of weeks have been trying to figure out which is dropping faster, supply or demand,? said Chad E. Hart, an assistant professor of economics at Iowa State University. He said the U.S.D.A. reports, including the World Agricultural Supply and Demand Estimates known as Wasde, provided an answer: ?What the Wasde report said is, supply.?
High commodity prices will translate into higher meat prices because the cost of feeding cattle, pigs and poultry with grain will go up, forcing producers to raise fewer animals.
And pasta prices will be pushed up because the crop of durum wheat, the variety used to make pasta, is forecast to be almost half as big as last year?s, because of flooding in North Dakota.
The average retail pasta price is currently $1.53 a pound, according to the National Pasta Association, a trade group, and Walter N. George, president of the American Italian Pasta Company, said that may eventually increase by 10 to 20 cents.
?The shopper may see slightly higher prices at retail, and over the course of the next 18 months should see those prices begin to come to more normal levels given a replenishment of the durum stocks,? he said.
?The markets over the past couple of weeks have been trying to figure out which is dropping faster, supply or demand,? said Chad E. Hart, an assistant professor of economics at Iowa State University. He said the U.S.D.A. reports, including the World Agricultural Supply and Demand Estimates known as Wasde, provided an answer: ?What the Wasde report said is, supply.?
High commodity prices will translate into higher meat prices because the cost of feeding cattle, pigs and poultry with grain will go up, forcing producers to raise fewer animals.
And pasta prices will be pushed up because the crop of durum wheat, the variety used to make pasta, is forecast to be almost half as big as last year?s, because of flooding in North Dakota.
The average retail pasta price is currently $1.53 a pound, according to the National Pasta Association, a trade group, and Walter N. George, president of the American Italian Pasta Company, said that may eventually increase by 10 to 20 cents.
?The shopper may see slightly higher prices at retail, and over the course of the next 18 months should see those prices begin to come to more normal levels given a replenishment of the durum stocks,? he said.
17.09
Corn Future Decline in Japan, Philippines to Buy Rice as Domestic Demand
Written By mine on Rabu, 16 Maret 2011 | 17.09
Corn futures fell to a two-month low on concern that commodity demand will decline as Japan?s nuclear crisis escalates. Corn futures for May delivery fell 19.5 cents, or 3.1 percent, to close at $6.165 a bushel at 1:15 p.m. on the Chicago Board of Trade. Earlier, the price touched $6.08, the lowest for a most-active contract since Jan. 12. Yesterday, the grain tumbled 4.5 percent, the most in four months.
The Philippines will auction allocations on March 23 for private companies to import 600,000 tons of rice tariff-free, the state?s National Food Authority said in a newspaper advertisement.
The rice purchases, part of the planned 860,000 tons of imports this year, must be delivered by June 30. Private companies will bid for the so-called ?service charge? that has a minimum floor price of 2 pesos per kilogram, National Food said. Each importer will be allowed to bid for a maximum of 20,000 tons, it said.
The Philippines is seeking to more than halve imports to 860,000 tons this year, from about 2.5 million tons in 2010, amid forecasts for a bigger harvest, National Food Administrator Angelito Banayo said March 7.
The import plan, which calls for the state agency to buy 200,000 tons with the remainder from private traders, will be ?validated in light of rising commodity prices globally? and as ?many countries are in a stockpiling mode,? Banayo said in a March 10 interview.
The Asian nation is struggling to control radiation leaking from a power plant damaged by the magnitude-9 earthquake and tsunami that struck on March 11, killing thousands. Japan is the world?s biggest corn buyer. On Feb. 22, the price in Chicago reached a 31-month high.
?People fear the worst possible outcome in Japan and are liquidating long positions,? said Gregg Hunt, a market analyst at Archer Financial Services Inc. in Chicago. ?The situation has the potential to reduce demand? for supplies from the U.S., he said.
Before today, the price jumped 75 percent in the past 12 months. The U.S. is the world?s leading corn exporter.
Corn is the biggest U.S. crop, valued at $66.7 billion in 2010, government figures show.
The Philippines will auction allocations on March 23 for private companies to import 600,000 tons of rice tariff-free, the state?s National Food Authority said in a newspaper advertisement.
The rice purchases, part of the planned 860,000 tons of imports this year, must be delivered by June 30. Private companies will bid for the so-called ?service charge? that has a minimum floor price of 2 pesos per kilogram, National Food said. Each importer will be allowed to bid for a maximum of 20,000 tons, it said.
The Philippines is seeking to more than halve imports to 860,000 tons this year, from about 2.5 million tons in 2010, amid forecasts for a bigger harvest, National Food Administrator Angelito Banayo said March 7.
The import plan, which calls for the state agency to buy 200,000 tons with the remainder from private traders, will be ?validated in light of rising commodity prices globally? and as ?many countries are in a stockpiling mode,? Banayo said in a March 10 interview.
The Asian nation is struggling to control radiation leaking from a power plant damaged by the magnitude-9 earthquake and tsunami that struck on March 11, killing thousands. Japan is the world?s biggest corn buyer. On Feb. 22, the price in Chicago reached a 31-month high.
?People fear the worst possible outcome in Japan and are liquidating long positions,? said Gregg Hunt, a market analyst at Archer Financial Services Inc. in Chicago. ?The situation has the potential to reduce demand? for supplies from the U.S., he said.
Before today, the price jumped 75 percent in the past 12 months. The U.S. is the world?s leading corn exporter.
Corn is the biggest U.S. crop, valued at $66.7 billion in 2010, government figures show.
