The corn and soybean futures are falling this morning as the wetter weather in South America increases the prospect of greater production. Wheat loses after two consecutive sessions with wins.
"Weather researchers' expectation of wetter weather in the currently arid areas of Paraguay and neighboring Brazil weighed on the market," said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia.
US soybean processors continued their strong pace in November, aided by plentiful bean deliveries and good processing margins, according to analysts polled ahead of the National Oilseed Processors Association's (NOPA) monthly report expected on Wednesday.
According to estimates by 12 analysts, NOPA members, who process approximately 95% of all soybeans produced in the United States, chopped an estimated 181.640 million bushels of soybeans in the past month.
Euronext European wheat futures rose yesterday as signs of renewed import demand helped prices rebound from a recent decline.
Commodity funds were net sellers of soybean, corn, soybean meal and soybean oil futures contracts on the Chicago Board of Trade and net buyers of wheat futures yesterday, traders said.
"Weather researchers' expectation of wetter weather in the currently arid areas of Paraguay and neighboring Brazil weighed on the market," said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia.
US soybean processors continued their strong pace in November, aided by plentiful bean deliveries and good processing margins, according to analysts polled ahead of the National Oilseed Processors Association's (NOPA) monthly report expected on Wednesday.
According to estimates by 12 analysts, NOPA members, who process approximately 95% of all soybeans produced in the United States, chopped an estimated 181.640 million bushels of soybeans in the past month.
Euronext European wheat futures rose yesterday as signs of renewed import demand helped prices rebound from a recent decline.
Commodity funds were net sellers of soybean, corn, soybean meal and soybean oil futures contracts on the Chicago Board of Trade and net buyers of wheat futures yesterday, traders said.
Source
Hansa Terminhandel GmbH