Benchmark live cattle futures on the Chicago Mercantile Exchange closed higher on Friday in a light short-covering bounce, but still ended the week down about 2%, anchored by sagging wholesale beef prices and rising supplies of market-ready cattle, traders said.
Flight attendants at Southwest Airlines have rejected a tentative contract agreement, with 64% of them voting against the proposed five-year deal, their union said on Friday.
U.S. soybean futures fell on Friday after the Department of Agriculture's updated estimate of Brazil's soybean harvest fell toward the high end of trade expectations, easing concerns about global supplies of the oilseed.
Raw sugar futures on ICE rose on Friday, although the spot
contract still posted a 6.9% fall in the week, under pressure
from increased supplies in top producer Brazil and the prospect
of higher output in India.
Large speculators trimmed their net short position in Chicago Board of Trade corn futures in the week to Dec. 5, regulatory data released on Friday showed.
The U.S. Department of Agriculture (USDA) on Friday raised its projection for total U.S. sugar imports, a move that was expected by the market, as the country has been dealing with tight supplies and high domestic prices.
Farmers who participated in U.S. crop subsidy programs reported "prevented plantings"
for Dec. 1, 2023 of 1.437 million acres of corn, up from 1.436 million acres reported a month ago, 0.475 million acres of soybeans
versus 0.475 million acres last month, 0.643 million acres of wheat versus 0.643 million acres last month, the Department
of Agriculture said on Friday.
Producers enrolled in subsidy programs for Dec. 1, 2023 reported planted acreage, including failed acres, at 93.273 million of corn,
82.770 million of soybeans and 53.281 million of wheat.
Producers who enroll in several Farm Services Agency programs must submit to USDA an annual report regarding all cropland
use on their farms.
USDA uses the information as an element in its crop estimates, which cover all farms, not just those who participate in
the farm program.
Following are comparisons of farmer-reported plantings in Dec 2023 and Nov 2023 and Dec 2022, based on a survey of farms:
U.S. corn and soybean plantings
Prevented planting
(thousands of acres)
Crop Dec 2023 Nov 2023 Dec 2022
Corn 1,437 1,436 3,155
Soybeans 475 475 986
Wheat 643 643 1,169
Rice 169 169 629
Barley 46 47 83
Sorghum 248 248 179
Cotton-Upland 469 468 115
U.S. corn and soybean plantings
Plantings
(thousands of acres)
Crop Dec 2023 Nov 2023 Dec 2022
Corn 93,273 93,260 86,896
Soybeans 82,770 82,764 86,586
Wheat 53,281 53,280 47,565
Rice 2,862 2,860 2,216
Barley 2,952 2,950 2,818
Sorghum 6,619 6,616 5,790
Cotton-Upland 9,933 9,930 13,353
(Washington commodities desk, 202 898 8324)
nAQN2IFJ7H
LVMH signed a deal to sell a majority stake in the parent company of its cruise retail business to a group of investors led by Jim Gissy, but will remain an "important minority shareholder" in the new entity, the luxury group said on Friday.
The U.S. Department of Agriculture cut its forecast for Brazil's next soybean harvest on Friday after poor weather hit key growing areas, but still expects a record crop.
Chicago soybean futures rose on Friday, riding the momentum of strong demand after the U.S. Department of Agriculture (USDA) announced more sales to China.
Poland has reported an outbreak of highly pathogenic H5N1 avian influenza, commonly called bird flu, on two poultry farms near the German border in the northwestern part of the country, the World Organisation for Animal Health (WOAH) said on Friday.
Reports from the US Department of Agriculture are very closely watched by traders, farmers, and anyone with an interest in the agricultural markets. But what exactly are they, and what impact do they have?
China's aviation regulator's deputy head on Friday told a Boeing executive in Beijing the airplane maker was welcome to deepen its development in the Chinese market.
Ukraine's farm ministry on Friday raised its 2023 grain harvest forecast to 59.7 million metric tons, saying the country had achieved a record grain yield.
Wall Street was set to open lower on Friday as
stronger-than-expected U.S. job growth and a drop in the
unemployment rate signalled resilience in the labor market,
dampening hopes that the Federal Reserve would cut interest
rates by early next year.
U.S. wheat prices tumbled to three-year lows a couple of months ago, giving U.S. exports a competitive advantage and luring seasoned grain buyer China into the market, which caused a rare run-up in futures.
Reuters
Checked
15 minutes 49 seconds ago
This feed is responsible for generating the rss feed related to the topic Commodities