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Grain, Soybean Futures Fall; Funds Extend Corn, Wheat Shorts
Grain and soybean futures started the week lower, pressured by moves in other markets.
Soybean contracts led losses, falling to the lowest close in over a month. January oilseed contracts at the Chicago Board of Trade dropped 1.3% to $9.74 1/4 a bushel.
Corn, Soybean Harvests Advance -- Market Talk
16:32 ET - US corn farmers sped up their harvest last week, though they still lag behind last year's pace. Farmers collected 83% of the crop as of Sunday, according to the USDA, up from 70% a week earlier but behind the 92% of the crop harvested by this time last year. The agency said last week that farmers were on track to produce a larger-than-expected corn bounty, due in part to record national yields. Corn conditions have beaten expectations, even as wet weather slowed fieldwork. The soybean harvest is 93% complete, up from 90% a week earlier. The winter wheat crop, meanwhile, is 95% planted. (firstname.lastname@example.org; @b_parkyn)
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Africa Corn Imports Slow Amid Rising Yields -- Market Talk
1003 GMT - Corn imports into Africa are slowing as several countries cut back on purchases following production recoveries across Southern Africa, says the U.N. agricultural agency FAO. Imports will likely decline by 1.9 million tons, or 8%, to just under 21 million tons in 2017 following a strong rebound of output from last year's El Nino-fueled drought. In South Africa, the continent's No.1 grower, no imports will be needed after a record crop, FAO says. The cutbacks may further hurt corn markets, already weighed down by expectations of a record crop from the U.S., the world's top producer. (Nicholas.Bariyo@wsj.com;@Nicholasbariyo)
Jordanian Grain Body Tenders for Wheat, Barley
LONDON--The Jordanian state grain agency has issued an international tender to buy 100,000 tons of milling wheat and 100,000 tons of animal-feed barley, local traders said Monday.
The tender will be for wheat of optional origin, with the deadline for wheat offers Nov. 16 and the deadline for barley on Nov. 15, traders added.
Hog, Cattle Futures Mixed After Week of Losses
Livestock futures traded sideways on Monday.
Prices for hogs and cattle fell last week as traders faced a plentiful supply outlook in the coming months. But futures markets were mixed on Monday, steadying as bargain-hunting traders took advantage of discounted prices.
December lean hog futures at the Chicago Mercantile Exchange fell 0.3% to 62.3 cents a pound, while contracts for later months rose.
(END) Dow Jones Newswires
November 13, 2017 17:23 ET (22:23 GMT)