Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Grain futures - weekly outlook: April 7 - 11

Published 04/06/2014, 09:53 AM
Updated 04/06/2014, 09:53 AM
U.S. wheat futures end the week with a loss of 3.7%

Investing.com - U.S. wheat prices fell to a three-week low on Friday, as forecasts for much-needed rain in the U.S. Great Plains region eased concerns over the health of the U.S. winter-wheat crop.

On the Chicago Mercantile Exchange, US wheat for May delivery slumped 0.92%, or 6.2 cents, on Friday to settle the week at $6.6960 a bushel.

Earlier in the day, prices fell to a session low of $6.5860 a bushel, the weakest level since March 12.

Parts of Oklahoma, Texas and Kansas, the top U.S. wheat growers, will receive as much as 0.25 inch (0.64 centimeters) to 1 inch of rain in the next four-to-seven-day period.

The May wheat contract ended the week with a loss of 3.71%, or 25.8 cents, the biggest weekly decline since January.

Meanwhile, US soybeans for May delivery inched down 0.1%, or 1.4 cents, on Friday to settle at $14.7360 a bushel by close of trade on Friday.

Prices of the oilseed rallied to a nine-month high of $14.9600 a bushel on April 2.

The May soybean contract picked up 2.52%, or 37.2 cents, on the week amid concerns over tightening U.S. supplies due to robust export demand.

Elsewhere on the Chicago Board of Trade, US corn futures for May delivery advanced 0.35%, or 1.6 cents, on Friday to close the week at $5.0160 a bushel.

Corn rose to a seven-month peak of $5.1240 a bushel on April 1.

On the week, the May corn contract rallied 4.5%, or 22.6 cents, the second consecutive weekly gain.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

In the week ahead, market players will focus on the release of key USDA data, including crop progress and weekly export sales figures.

Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.