By Gary Wulf of DOW JONES NEWSWIRES SUPERIOR, Neb. (Dow Jones)--Cash prices continue to erode across the US grain market. Hard red spring/winter wheat values are approaching 2- to 3-year lows, worth an average of just $4.25-$4.95 per bushel, nationwide. "Ample worldwide supplies...and fierce competition for exports are keeping prices in check," said Bryce Knorr of Farm Futures, who said an overnight export tender by Egypt remains pending. "The U.S. has lost out on the last few deals, with French and Black Sea origins dominant." SRW wheat prices now languish at 8-month lows, while spot soybean/corn markets are threatening to set 1-month lows. "Highly favorable weather conditions/outlooks dominate sentiment and raise expectations for hefty crops of both corn and soybeans," said eHedger analyst Justin Kelly. "Meanwhile, key end-users, such as the hog and cattle industries, remain on the defensive following a rough few months in which profit margins were erased or turned negative." Daily readings of domestic basis were weaker for nearly every class of US cash grain entering Wednesday's day-trading session, highlighted by a 7-cent per bushel plunge in average spot soybean basis. "Reports that crushers will take additional downtime over the next couple of months have eased some of the bullishness over tight old-crop stocks," said Doane Agricultural Services. US grain futures deteriorated overnight, resulting in cash-contract declines of around 1 cent for wheat, 2 1/2 cents for corn, 4 1/2 cents for oats and 14 cents for soybeans. "Corn started the night session firm, but turned lower as global equities were weaker and weather conditions continued to be viewed as favorable for crop development," said Country Hedging's Joel Fitch. National cash price indices maintained by the Minneapolis Grain Exchange reside at $10.02 3/4 for soybeans, reflecting an average basis premium of 43 3/4 cents over Tuesday's settlement of November CBOT futures. Domestic cash prices also average $2.93 1/2 for corn (-21 cents basis September CBOT), $4.25 for hard red winter wheat (-73 1/2 cents basis September KCBT wheat), $3.51 1/2 for soft red winter wheat (-$1.19 basis September CBOT wheat) and $4.95 1/2 for hard red spring wheat (-45 cents basis September MGE wheat). Crop Weather "Cool, wet weather is slowing small grain harvesting on the northern Plains, but conditions throughout the region remain mostly favorable for summer crops, despite developmental delays," said USDA agricultural meteorologist Brad Rippey. A strong low-pressure system and its trailing cold front will progress from the Plains to the East Coast in coming days. "Heavy showers and locally severe thunderstorms will precede and accompany the front, with widespread 1- to 3-inch rainfall totals expected across the eastern half of the US," said Rippey. "Farther west, heat will peak at mid-week in the Pacific Northwest, followed by a cooling trend. However, heat will shift from the West into the nation's mid-section."
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
32900.00 | + 1950 | 33200.00 | + 2000 |
ПФО |
32000.00 | + 1690 | 32500.00 | + 1500 |
СКФО |
33000.00 | + 1350 | 33500.00 | + 1500 |
ЮФО |
33000.00 | + 1500 | 33500.00 | + 1500 |
СФО |
33000.00 | + 1000 | 34000.00 | + 1000 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
74000.00 | + 1000 | 74500.00 | + 1000 |
ЮФО |
73000.00 | + 1000 | 75000.00 | + 1000 |
ПФО |
73500.00 | + 1500 | 75000.00 | + 1800 |
СФО |
74000.00 | + 500 | 76000.00 | + 1100 |
Обсуждение