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Tampilkan postingan dengan label corn futures prices. Tampilkan semua postingan
Tampilkan postingan dengan label corn futures prices. Tampilkan semua postingan
20.02
Corn Prices Surge 2 years, Inventories Fell Lowest in first March 2012
Written By mine on Sabtu, 31 Maret 2012 | 20.02
Corn prices surge from 2010 till this year 2012, while corn inventories in first March 2012 fell lowest since 2004 according USDA. Corn futures prices for May 2012 delivery jump by the exchange limit of 40 cents, or 6.6 percent, to close at $6.44 a bushel at 1:15 p.m. That was the biggest gain for a most-active contract since June 30, 2010. The advance pared the decline for the quarter to 0.4 percent according CBOT.
Corn stockpiles on March 1 fell 7.9 percent to 6.009 billion bushels from a year earlier, the USDA said. Analysts in a Bloomberg survey expected 6.16 billion, on average. The agency’s estimate of consumption in the three months ended Feb. 29 unexpectedly rose 3.1 percent to a record 3.64 billion bushels. That figure includes use in food, livestock feed and fuel, along with exports and waste.
American corn acreage this year will be the largest since 1937, and more than expected, as profit prospects improve and warm, dry weather encourages farmers to boost plantings, the government said. Soybean acres are forecast to fall while wheat seeding may climb. About 95.864 million acres will be planted with corn, up 4.3 percent from 91.921 million last year and more than the 94.658 million expected by analysts, the U.S. Department of Agriculture said today in a report based on a farmer survey. Farm net income may total $91.7 billion this year, the second highest on record, the USDA said last month.
Corn farmers in some parts of the Midwest can make more than twice as much from an acre of corn as from soybeans, according to AgStar Financial in Rochester, Minnesota. In Illinois, the biggest corn-growing state after Iowa, farmers have already started seeding following recent record high temperatures, the USDA said earlier this week.
Corn stockpiles on March 1 fell 7.9 percent to 6.009 billion bushels from a year earlier, the USDA said. Analysts in a Bloomberg survey expected 6.16 billion, on average. The agency’s estimate of consumption in the three months ended Feb. 29 unexpectedly rose 3.1 percent to a record 3.64 billion bushels. That figure includes use in food, livestock feed and fuel, along with exports and waste.
American corn acreage this year will be the largest since 1937, and more than expected, as profit prospects improve and warm, dry weather encourages farmers to boost plantings, the government said. Soybean acres are forecast to fall while wheat seeding may climb. About 95.864 million acres will be planted with corn, up 4.3 percent from 91.921 million last year and more than the 94.658 million expected by analysts, the U.S. Department of Agriculture said today in a report based on a farmer survey. Farm net income may total $91.7 billion this year, the second highest on record, the USDA said last month.
Corn farmers in some parts of the Midwest can make more than twice as much from an acre of corn as from soybeans, according to AgStar Financial in Rochester, Minnesota. In Illinois, the biggest corn-growing state after Iowa, farmers have already started seeding following recent record high temperatures, the USDA said earlier this week.
23.05
Corn Prices Rally on Speculation, China Increase Import from US
Written By mine on Jumat, 16 Maret 2012 | 23.05
Corn prices extended rallies to the highest prices on speculation that China may boost purchases from the America, the biggest producer of corn crops.
Jilin Corn Center Wholesale Market reported yesterday that government purchases of domestic grain have plunged this year to 1.2 million metric tons from 11 million a year earlier, a sign of tighter supplies in China that will lead to a jump in imports. On the Dalian Commodity Exchange, corn futures jumped to a record today.
“The rising markets are a reflection of traders expecting increased Chinese purchases from the U.S.,” Jerry Gidel, the chief feed analyst at Chicago-based Rice Dairy LLC, said in a telephone interview. “Rising meat demand is driving Chinese consumption of feed.”
Corn futures for May delivery rose 0.6 percent to close at $6.73 a bushel at 1:15 p.m. in Chicago, after touching $6.7375, the highest price since Sept. 22. The grain rallied 4.3 percent this week, the largest gain since the end of January. Corn futures for May delivery rose 0.4 percent to $6.715 a bushel on the CBOT, heading for the biggest weekly gain since January. Earlier, the contract touched $6.7375, the highest since Sept. 22.
Corn may rally next week as unusually warm, dry weather and drought conditions in parts of the northwestern Midwest may threaten this year’s crops and encourage farmers to withhold supplies left from last year’s harvest, Tim Hannagan, a grain analyst for PFT Best Inc. in Chicago, said in a telephone interview.
The average premium for corn at export terminals near New Orleans has climbed 30 percent in the past year, government data show. U.S. inventories before this year’s harvest are expected to drop to the lowest since 1996, the Department of Agriculture said March 9. Soybean premiums are 4.2 percent higher than a year earlier.
Corn is the biggest U.S. crop, valued at $76.5 billion in 2011, followed by soybeans at $35.8 billion, government figures show.
Jilin Corn Center Wholesale Market reported yesterday that government purchases of domestic grain have plunged this year to 1.2 million metric tons from 11 million a year earlier, a sign of tighter supplies in China that will lead to a jump in imports. On the Dalian Commodity Exchange, corn futures jumped to a record today.
“The rising markets are a reflection of traders expecting increased Chinese purchases from the U.S.,” Jerry Gidel, the chief feed analyst at Chicago-based Rice Dairy LLC, said in a telephone interview. “Rising meat demand is driving Chinese consumption of feed.”
Corn futures for May delivery rose 0.6 percent to close at $6.73 a bushel at 1:15 p.m. in Chicago, after touching $6.7375, the highest price since Sept. 22. The grain rallied 4.3 percent this week, the largest gain since the end of January. Corn futures for May delivery rose 0.4 percent to $6.715 a bushel on the CBOT, heading for the biggest weekly gain since January. Earlier, the contract touched $6.7375, the highest since Sept. 22.
Corn may rally next week as unusually warm, dry weather and drought conditions in parts of the northwestern Midwest may threaten this year’s crops and encourage farmers to withhold supplies left from last year’s harvest, Tim Hannagan, a grain analyst for PFT Best Inc. in Chicago, said in a telephone interview.
The average premium for corn at export terminals near New Orleans has climbed 30 percent in the past year, government data show. U.S. inventories before this year’s harvest are expected to drop to the lowest since 1996, the Department of Agriculture said March 9. Soybean premiums are 4.2 percent higher than a year earlier.
Corn is the biggest U.S. crop, valued at $76.5 billion in 2011, followed by soybeans at $35.8 billion, government figures show.
