GRAIN HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES:

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Corn and Soybean Futures Steady Despite Weather Pressure

CHICAGO -- Corn and soybean futures recovered Wednesday after sharp losses earlier this week.

Improving planting conditions, lower-than-expected soybean crush rates and the continued specter of bumper South American harvests have pressured prices this week.

But current levels found some support in Wednesday's session as traders checked bets prices would fall.

May soybean futures rose 0.5% to $9.50 1/4 a bushel at the Chicago Board of Trade, while corn futures closed unchanged at $3.61 3/4 a bushel.

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STORIES OF INTEREST:

Oil Prices Plummet on EIA Supply Data

Crude prices had their worst day in over a month after the U.S. Energy Information Administration reported an unexpected increase in gasoline supplies.

The 1.5-million-barrel increase in gasoline stockpiles raised fears that a glut in the fuel would cause refiners to go on a diet, cutting their purchases of crude and sending oil prices lower.

U.S. crude futures fell $1.97, or 3.8%, to $50.44 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell $1.96, or 3.6%, to $52.93 a barrel.

THE MARKETS:

Cattle Futures Rise to Year High

CHICAGO -- Cattle futures closed at their highest level in a year after prices rose at an online auction.

Futures have rallied for 10 consecutive days to close the gap with cash prices, which have been buoyed by strong consumer demand for beef.

April live cattle futures rose 0.9% to $1.27925 a pound at the Chicago Mercantile Exchange. That was the highest close for a front-month contract since April 18 last year.

(END) Dow Jones Newswires

April 19, 2017 17:34 ET (21:34 GMT)