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Corn Futures Rise, Soybeans Lower
Corn futures bounced as traders played that market against falling soybean prices. Hedge funds are holding a large net short position in the corn market, while being net long in soybeans. Analysts said they were unwinding those bets on Thursday, selling the oilseed and buying the grain.
Oil Prices Rise After OPEC Announces Deal
Oil prices closed higher lower Thursday after a group of major oil producers agreed to extend supply cuts through the end of next year. Light, sweet crude for January delivery inched up 10 cents, or 0.2%, to $57.40 a barrel on the New York Mercantile Exchange, after three straight days of losses. Brent, the global benchmark, advanced 46 cents, or 0.7%, to $63.57 a barrel.
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Kroger Rings Up Gains in Fight Against Wal-Mart, Amazon
Kroger Co. boosted sales by improving online ordering and cutting prices at its stores, a sign of progress in the grocer's fight against rising competition from discounters and Amazon.com Inc. The Cincinnati-based chain said Thursday that sales grew by 1.1% in the quarter ended Nov. 4 at its established stores, topping expectations. Kroger expects sales to increase by a wider margin in the fourth quarter by that same metric, which excludes fuel sales.
Costco's Sales Growth Got Even Stronger This Month -- Market Talk
00:00 ET - Costco shares have had a strong month, rising 10% after a stout October sales report to kick things off. November's reading should allow the wholesale-club operator to end the month in style. It posted 7.9% same-store-sales growth companywide excluding currency and gas-price fluctuations, including 8.4% in the US. They're the strongest figures in a series of robust growth figures, showing Costco remains a quite-healthy retailer at a top of struggles for many in the sector. Investors finally woke up to that in November, reversing much of a slump seen in June as Amazon agreed to buy Whole Foods. Perhaps Thursday is when shares top May's record high. They will start trading 3.1% below there. (email@example.com; @kevinkingsbury)
Slow Cash Cattle Trade Pressures Futures
Cattle futures fell as traders waited for the week's cash trade to develop. Many traders expected physical cattle prices to rise, and buying interest in the futures market waned as they waited for confirmation of this week's price direction. After the close, the U.S. Department of Agriculture said that cattle traded in Kansas for $120 to $121 per 100 pounds on a live basis. Cash prices last week averaged at $119 live and $189 dressed.
(END) Dow Jones Newswires
November 30, 2017 17:36 ET (22:36 GMT)