Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities


Agricultural Commodities End Trading with Losses

June 28, 2013 at 22:53 by Vladimir Vyun

US farmers planted with corn the biggest area since 1936, leading to a slump of prices for the grain. Soybeans and wheat also dropped. The US Department of Agriculture reported that US farmers planted as much as 97.379 million acres, compared to the forecast of 97.282 million and 97.155 million in 2012. Wheat acreage was at the highest in four years of 56.53 million, while soybeans were planted on a record 77.728 million. December futures for corn slumped $0.275 (5.11 percent) to $5.11 per bushel on CBoT today. Soybean contract for delivery in November subtracted $0.2325 (1.82 percent) to $12.52 per bushel. September wheat slipped $0.16 (2.37 percent) to $6.5775 per bushel today.

Cattle and hogs fell on signs that demand for US meat is falling. Yesterday, the commodities gained on hopes for higher consumption. August futures for delivery of cattle lost $0.009 (0.73 percent) to $1.2203 per bushel on CME today. Hogs dropped $0.0195 (1.96 percent) to $0.9745 per bushel.

If you have any questions and comments on the commodities today, use the form below to reply.

Leave a Reply