US agricultural futures fall

Author: xinhua

Chicago Board of Trade (CBOT) agricultural futures fell across the board on Friday, led by soybeans. The most active corn contract for March delivery fell 4.5 cents, or 1.01 percent, to settle at 4.4275 U.S. dollars per bushel. March wheat lost 1.75 cents, or 0.29 percent, to settle at 5.9975 dollars per bushel. March soybean shed 14.75 cents, or 1.23 percent, to settle at 11.885 dollars per bushel. CBOT grains were lower amid better than expected U.S. January jobs report, which caused a rally in U.S. dollar and pushed backwards the chance of rate cut by the Federal Reserve until May or June. The United States added 353,000 jobs in January, nearly double initial expectations. Chicago-based research company AgResource is expecting rain in Argentina next week, which is being worked into prices. Statistics Canada will release its December 31 Grain Stocks report on Feb. 8. Brazil sold three to four cargoes of soybeans to Argentina, which should help boost Argentine soybean product availability during March. It is drier across Central and Southern Brazil, but wetter across Southern Argentina crop areas. Crops in Central and Northern Argentina will endure another six to seven days of extreme heat, and such heat may push crop maturity.

Share
Leave a Comment

Recent Posts

  • Pakistan

Internet and mobile services to be suspended ahead of PTI protest

The federal government is reportedly planning a partial suspension of internet and mobile phone services…

9 hours ago
  • Business

Diamond Paints Honored at Corporate Philanthropy Awards 2024

Islamabad, November 19, 2024 – Diamond Paints, Pakistan’s No.1 paint brand, proudly received two prestigious…

10 hours ago
  • Cartoons

TODAY’S CARTOON

12 hours ago
  • Editorial

Battles and Bottlenecks

On Tuesday, in a high-level huddle, the government announced a comprehensive and result-oriented military operation…

12 hours ago
  • Editorial

Economy and Equity

The economy is showing signs of improvement due to government initiatives and measures taken to…

12 hours ago
  • Op-Ed

Pakistan Climate Change and COP29

Climate change is one of the most significant environmental challenges facing the world. Greenhouse gas…

12 hours ago