By Mark Weinraub. U.S. wheat futures rallied to multiyear highs on Thursday with concerns about tight global supplies and strong export demand fueling the gains. MGEX spring wheat hit its highest level since June 2011 on expectations that overseas buyers will soon begin looking to the United States to fill their orders for high-protein wheat.
WINNIPEG, Manitoba--The ICE Futures canola market was mostly higher at midday Thursday, with a sharp rally in the nearby November contract ahead of its expiry and a steadier tone in the more actively traded deferred months. The speculative rally in the November contract was exaggerated as open interest dwindles in the front month front month ahead of first notices on Friday,. The rally in the front month did provide some spillover support for the other contracts, but bearish...
Hershey Co (HSY) raised its annual forecasts for sales and profit on Thursday after posting better-than expected results, benefiting from strong demand for its chocolates and candies during its "biggest ever" Halloween season.
WINNIPEG, Manitoba--Intercontinental Exchange canola futures were mixed on Thursday morning, with the nearby contracts hitting new highs. That included C $1,000 a metric ton for the November, which gets its first notice Friday. The much more deferred positions were taking a step back due to declines in the Chicago soy complex, the upfront contracts for European rapeseed and Malaysian palm oil.
- Hershey Co (HSY) raised its annual forecasts for sales and profit on Thursday after posting better-than expected results, benefiting from strong demand for its chocolates and candies during its "biggest ever" Halloween season.
WINNIPEG, Manitoba--ICE canola futures posted solid gains during the week ended Oct. 27, hitting fresh contract highs in many months as speculators added to their net long positions. "The specs have canola by the throat, and they'll see how far they can run it," said Ken Ball of PI Financial in Winnipeg. He said the relatively small size of the canola market means that a few larger players can easily move prices where they want.
WINNIPEG, Manitoba--The ICE Futures canola market was stronger on Wednesday, hitting fresh contract highs for the second-straight session as speculators continued to add to their long positions. While tight supplies remained supportive, canola is already priced high enough to ration demand and a trader said there was no reason for the futures to keep moving higher from a fundamental standpoint. Chicago soyoil futures were weaker on the day, which put some spillover pressure...
WINNIPEG--The ICE Futures canola market was mixed midday Wednesday, hitting fresh contract highs in the most-active front months. A Winnipeg-based trader described canola as being in "a game all by itself," with speculative money the primary reason behind the rally in the nearby contracts. While tight supplies do remain supportive, canola is already priced high enough to ration demand and the trader said there was no reason for the futures to keep moving higher from a...
WINNIPEG--Intercontinental Exchange canola futures turned lower Wednesday morning amid declines in the Chicago soy complex. There also were losses in European rapeseed and Malaysian palm oil. Crude oil prices dropped back, which weakened biofuel values.
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