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Soybean Futures Rise as Grains Lag
Soybean futures rose even as grain prices slumped on Tuesday, with ongoing concerns about the oilseed crop driving the market higher.
The U.S. Department of Agriculture said on Monday that the share of soybeans in good-or-excellent condition rose to 60% as of Sunday from 59% a week earlier. But that improvement was overshadowed by ongoing concern about drier forecasts in the Midwest just as oilseed plants pass through their crucial pod-setting phase.
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Dean's 2Q: 'As Bad As Some Of The Bears Had Expected' -- Market Talk
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14:10 ET - Analysts aren't mincing words after Dean Foods (DF) reports lower-than-expected 2Q profit and slashes its full-year forecast. "Its new outlook is as bad as some of the bears had expected," writes Vertical Group analysts, calling Dean's current forecast "a complete departure" from executives' more-confident outlook in May. "[T]his has all seemingly evaporated against volatility that management knew was inherent in this industry," Vertical Group says, cutting the shares to "hold" from "buy." And despite Dean executives' pledge to cut costs further, "we think credibility is now impaired." Dean shares down 20%. (email@example.com; @jacobbunge)
Amid Trump's Immigration Crackdown, More Mexicans Get Visas to Work in U.S.
MEXICO CITY -- Demand in America for Mexican farmhands, landscapers and other temporary workers is surging as the Trump administration moves to curb immigration and renegotiate its trade relationship with Mexico.
That demand is prompting both countries to search for ways to ease labor shortages in key parts of the U.S. economy.
US Temperatures Running Hot This Year -- Market Talk
13:40 ET - In news of note for agricultural suppliers and utility managers, federal climate analysts say the US continues to run hotter than average, at a pace that puts 2017 to date among the warmest in 123 years of record-keeping. In a regular assessment of US climate trends, they report above-average temperatures across the nation in the first seven months of 2017. Sections of the Northwest are running cooler than average so far, but warmer in the Southwest and the Rockies through to the East Coast due to record and near-record warmth earlier in the year. Florida, North Carolina and South Carolina had their warmest January-July on record, they say. (firstname.lastname@example.org; @leHotz)
Cattle Supply Continues Pressuring Futures
Cattle futures fell for a second consecutive day as concerns over large supply continued to weigh down prices.
Contracts for cattle swung back and forth Tuesday, initially rising before giving back gains. Analysts said the path of least resistance was lower, though on a technical level, prices were stuck in a trading band.
(END) Dow Jones Newswires
August 08, 2017 17:51 ET (21:51 GMT)