GRAIN HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES:

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Soybean Futures Fall as Brazil Scandal Roils Market

CHICAGO -- Soybean futures erased a month of gains on Thursday amid concerns that political turmoil and currency weakness in Brazil could encourage farmers there to sell more of their record harvest.

Soybean futures for July delivery closed 31 cents, or 3.2% lower, at $9.44 3/4 a bushel at the Chicago Board of Trade, the biggest single-day loss in months.

STORIES OF INTEREST:

Egypt Buys 295,000 Tons of Wheat in Tender

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LONDON--Egypt's state grain buyer, the General Authority for Supply Commodities, bought 295,000 metric tons of wheat in its latest state tender on Wednesday.

GASC bought the wheat from Romania, Ukraine, Russia and the U.S. Egypt is the world's largest wheat importer.

Excluding freight, GASC bought 60,000 tons of Romanian, Ukrainian, Russian and American hard red winter wheat, and 55,000 tons of additional American hard red winter wheat.

THE MARKETS:

Livestock Futures Swing Higher in Volatile Session

CHICAGO--Cattle futures rose Thursday after bouncing off lows made earlier in the day.

Live cattle contracts opened lower at the Chicago Mercantile Exchange only to reverse course. CME June live cattle futures closed 0.4% higher at $1.22925 a pound. Feeder cattle contracts rose.

(END) Dow Jones Newswires

May 18, 2017 17:35 ET (21:35 GMT)