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Soybean Futures Tumble on Argentine Rain
Soybean futures fell Thursday as weather forecasts showed more rainfall in Argentina.
Rain in the South American country--a major producer of soybeans and corn--beat expectations on Wednesday, according to the Commodity Weather Group. Up to an inch of rain was forecast in most regions over the next week, offering temporary relief to dry Argentine crops.
Soybean futures for January fell 1.2% to $9.67 3/4 a bushel at the Chicago Board of Trade.
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Unilever Notches Another Deal -- Market Talk
12:36 ET - Unilever on Thursday said it has made yet another acquisition, marking its 11th deal this year alone. The consumer goods giant has acquired Portland-based brand Schmidt's Naturals, which mainly sells deodorants using ingredients derived from plants and minerals. Deal terms were undisclosed. Unilever expects the acquisition to close by 1Q 2018. Unilever under CEO Paul Polman has been pivoting toward high-growth, natural products in personal care while divesting slower growth food brands. (Saabira.Chaudhuri@wsj.com; @SaabiraC)
Blue Apron Gets Lift from CEO Stock Purchase -- Market Talk
10:45 ET - Incoming Blue Apron Holdings CEO Brad Dickerson has helped to lift the troubled meal-kit company's stock again, this time by buying 180,000 shares, according to a filing. Shares rose 3% Thursday morning. Blue Apron's promotion of Dickerson to CEO from CFO last month has boosted analysts' outlook on the New York City-based company after it faced a series of production problems. Still, shares down 60% from Blue Apron's IPO in June. (email@example.com; @heatherhaddon)
Cattle, Hog Futures Climb
Cattle futures rose on Thursday as buyers returned to the market.
Traders reacted to chart patterns that suggested prices would head higher, analysts said. Cattle futures fell for eight consecutive days earlier this week, creating room for bargain hunting.
December-dated live cattle futures rose 0.5% to $1.16275 a pound at the Chicago Mercantile Exchange. Contracts for feeder cattle were also higher.
Hog futures also rose. The front-month CME December contract gained 0.1% to 64.025 cents a pound, while the most-active February contract gained 1.2% to 67.625 cents.
(END) Dow Jones Newswires
December 14, 2017 17:39 ET (22:39 GMT)