Grains Commodities Related News.

CBOT soybeans up on bargain buying, waning trade war fears - Reuters News

06-Apr-2018 02:50:49 AM

CHICAGO, April 5 (Reuters) - Chicago Board of Trade soybean futures climbed on Thursday on bargain buying and waning fears of a trade war with China, one day after the top global soy importer proposed tariffs on imports from the United States, traders said. 

• Investors were hopeful Washington and Beijing could negotiate to avoid tariffs on U.S. soy and other agricultural goods.

• Soybeans were higher but stayed within the wide trading range established on Wednesday, when prices plunged as much as 5 percent following the tariff announcement.

• Soymeal and soyoil futures both were narrowly higher. 

• Argentine farmers are expected to harvest 38 million tonnes of soy in the 2017-18 season, the Buenos Aires grains exchange said on Thursday, down from its prior estimate of 39.5 million tonnes. 

• The U.S. Department of Agriculture announced weekly soybean export sales of 1.491 million tonnes, topping market expectations for 600,000 to 1.150 million tonnes. 

(Reporting by Michael Hirtzer

Editing by James Dalgleish)

CBOT corn rallies on technicals, easing trade war fears - Reuters News

06-Apr-2018 02:34:54 AM

CHICAGO, April 5 (Reuters) - Chicago Board of Trade corn futures were up more than 2 percent on Thursday, rising on technical buying and easing fears of a trade war with China following a steep in prices on Wednesday, traders said. 

• Front-month CBOT May corn finished at its session high of $3.89-1/2 per bushel and surpassed a peak from Wednesday notched before China announced plans to impose import duties on key U.S. commodities including corn and soybeans.

• Soybean prices also rallied, with some investors soothed by statements from Washington that the United States and China could negotiate and avoid the tariffs on U.S. agriculture products.

• Corn prices were further supported by wet and cold weather in the U.S. Midwest that could delay the start of the spring planting season for farmers in states as Iowa and Illinois that grow a bulk of the corn crop.

• The U.S. Department of Agriculture said USDA weekly corn export sales totaled 909,300 tonnes, below analysts' estimates that ranged from 1.100 million tonnes to 1.600 million tonnes. 

(Reporting by Michael Hirtzer

Editing by James Dalgleish)

U.S. Cash Soymeal-Rail, truck offers steady; futures move higher - Reuters News

06-Apr-2018 02:25:31 AM

CHICAGO, April 5 (Reuters) - Spot basis offers for U.S. soymeal held steady on Thursday, underpinned by adequate movement of supplies and limited demand from livestock producers and feed mixers, dealers said.

* Market participants watched as soymeal futures rose for a second day in a row, led by the turnaround in soybean contracts after digesting Wednesday's news on China traffic.

* China on Wednesday proposed higher duties on a slew of U.S. goods, including corn and soybeans, in response to increased tariffs imposed by Washington on Chinese steel and aluminum. 

(Reporting by Theopolis Waters , editing by G Crosse)

Argentina 2017-18 soy harvest forecast cut to 38 mln tonnes -exchange - Reuters News

06-Apr-2018 02:12:38 AM

BUENOS AIRES, April 5 (Reuters) - Argentine farmers are expected to harvest 38 million tonnes of soy in the 2017-18 season, the Buenos Aires grains exchange said on Thursday, down from its prior estimate of 39.5 million tonnes and 34 percent below the previous crop year.

The estimate marked the latest in a string of reductions to harvest forecasts due to a prolonged drought in the country's central Pampas agricultural belt, which has reduced yields.

(Reporting by Maximilian Heath and Luc Cohen

Editing by Chizu Nomiyama)

European feeds-Soymeal higher on strong Brazilian markets - Reuters News

06-Apr-2018 01:36:27 AM

ROTTERDAM, April 5 (Reuters) - Soymeal on the European meals and feeds market was offered well up from Tuesday on very strong fob markets in Brazil on hopes that China's plan to impose a 25 percent import duty on U.S. soybeans will increase exports.

Sellers did not offer soymeal on Wednesday as they decided to sit out the implosion in the CBOT soy complex, which saw futures fall sharply on the China news, as they believed it was overdone.

"It is questionable if there will be a large shift in the Chinese buying pattern as around now they shift from the U.S. to South America anyway," one broker said. 

South American soymeal was quoted around $8 up from Tuesday. 

Rapemeal was offered between one and four euros per tonne up, tracking gains in soymeal and due to firmer rapeseed futures on hopes that the Chinese import duty plan would increase demand for rapeseed. 

(Reporting by Karel Luimes

Editing by Alexanda Hudson)