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Chicago Board Of Trade Wheat

Renovation And 21st Century

Weekly Market Kickoff 12/13: Grains, PPI, The Fed and more

In 2005, the building underwent an extensive $20 million renovation directed by Chicago architect Gunny Harboe, whose restoration work included Loop landmarks the Rookery Building and Reliance Building. The project included restoration of the main lobby to emphasize the design features of the art deco era, elevator modernization, fa├žade renovation and cleaning, and the continued renovation of upper floor corridors and hallways. Though impractically small for modern use, mailboxes in the lobby were restored to their original condition to follow the theme of vertical lines found throughout the complex. An improved electrical infrastructure, with ten main feeds from seven different Commonwealth Edisonelectrical substations, was added in addition to redundant cooling systems and upgraded telecommunications capabilities.

IndustryAgriculture

In September 2011, the intersection of LaSalle Street and Jackson Boulevard in front of the building became the headquarters for the Occupy Chicago protest movement. On April 23, 2013, the CME Group sold the north and south towers of the building at 141 W. Jackson Blvd. for $151.5 million to a joint venture between GlenStar Properties LLC and USAA Real Estate Co. The CME will retain ownership of the smaller east building at 333 S. LaSalle St. CME signed a 15-year lease for the 150,000 square feet it occupies in the two towers.

Us Grains: Cbot Wheat Nears 9

Posted

Chicago | Reuters Chicago Board of Trade wheat futures rose to their highest prices in almost nine years on Monday amid a flurry of deals in the global export market.

Spillover strength from the rally helped lift CBOT corn futures against the backdrop of tightening world wheat supplies, traders said.

Saudi Arabias main state wheat buying agency said it bought about 1.268 million metric tonnes of milling wheat in a massive deal that exceeded some traders expectations.

Egypt, the worlds biggest wheat importer, bought 180,000 tonnes.

The wheat market takes on new highs amidst strong global demand, CHS Hedging said in a note.

The most-active CBOT wheat contract settled 24-1/2 cents higher at $7.97-1/4 a bushel. The contract temporarily traded above $8 a bushel before trimming gains and reached the highest price for a most-active contract since December 2012.

K.C. hard red winter wheat touched the highest price for a front-month contract since May 2014, while the front-month MGEX spring wheat contract touched the highest since June 2011.

In Paris, Euronext wheat futures climbed to a 13-1/2-year high.

Supply concerns helped fuel gains, analysts said.

The U.S. Department of Agriculture, in a weekly report issued after the close of trading, rated 45 percent of the countrys winter wheat crop as being in good or excellent condition. That was down 1 percentage point from last week. Analysts expected an increase of 2 percentage points, according to a Reuters poll.

Soy Corn Down On Technical Selling Beneficial Argentine Rains

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CHICAGO, Dec 13 – U.S. soybean futures fell nearly 2% on Monday and corn futures also declined on a mix of technical selling after last week’s advances and improving prospects for South American production, analysts said.

Wheat futures rose on bargain-buying after dipping to a six-week low on Friday.

Chicago Board of Trade January soybeans settled down 23-3/4 cents at $12.44 per bushel and March corn ended down 5 cents at $5.85 a bushel. CBOT March wheat rose 3-1/2 cents to finish at $7.88-3/4 a bushel.

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Soybeans fell after notching a two-week high on Friday.

Brokers noted beneficial weekend rains in Argentina’s crop belt that should bolster production prospects there.

“We stalled because of the better-than-expected moisture in some of the dry areas of South America. And it’s position-squaring in corn and soybeans in a holiday trade environment,” said Don Roose, president of Iowa-based U.S. Commodities.

Commodity funds hold a net long position in both CBOT corn and soybean futures heading into the end of the year, a factor that leaves the markets prone to bouts of long liquidation if funds book profits, Roose noted.

Also, the soybean harvest is approaching in portions of Brazil, the world’s top supplier of the oilseed, a factor that threatens export demand for U.S. soy supplies and may spur cash sales by U.S. farmers.

“Technically we were oversold,” Roose said.

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Us Grains: Corn Soybeans Fall In Risk

U.S. corn and soybean futures fell on Monday, with concerns about the spread of Omicron coronavirus variant causing investors to take some risk out of the market, traders said. U.S. Commodity Futures Trading Commission data released on Friday afternoon that showed large speculators cut their

AGCanada

Argentine Exporters Vow Safeguards To Keep Gm Wheat Out Of Shipments

Building the CBOT

BUENOS AIRES, Nov 8 – Argentine grains exporters have asked the government to identify farmers who are growing drought-resistant genetically modified wheat, so they can halt sales from those areas until top importer Brazil approves the technology.

Exporters say if any GM wheat is shipped from Argentina, all international sales of the grain may be shunned due to concern about possible cross-contamination from GM to non-GM cargos, given some consumers’ aversion to bread made with GM flour.

Argentine biotech firm Bioceres said in September that 55,000 hectares of its GM drought-resistant HB4 wheat had been planted by farmers in Argentina in what it called “an inventory ramp-up” ahead of “expected pending regulatory approval from Brazil”.

It said the GM wheat was being grown by 225 farmers, concentrated in the bread-basket province of Buenos Aires. A company spokesperson reached by Reuters on Monday declined further comment.

The CIARA-CEC chamber of grains export companies operating in Argentina said the information provided was not detailed enough. Its head Gustavo Idigoras said the chamber had asked the National Seed Institute, a government body, last month to help pinpoint farms that are growing GM wheat.

“If we can identify risk areas we will avoid purchasing there. We will also test wheat coming into port terminals. Any detection of GM wheat will result in it being rejected,” Idigoras said.

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Chicago Board Of Trade Building

The Chicago Board of Trade Building was Chicago’s tallest from 1930 until 1965.
Location
Height = 604 feet
NRHP reference No.
Designated CLMay 4, 1977

The Chicago Board of Trade Building is a 44-story, 604-foot Art Deco skyscraper located in the Chicago Loop, standing at the foot of the LaSalle Street canyon. Built in 1930 for the Chicago Board of Trade , it has served as the primary trading venue of the CBOT and later the CME Group, formed in 2007 by the merger of the CBOT and the Chicago Mercantile Exchange. In 2012, the CME Group sold the CBOT Building to a consortium of real estate investors, including GlenStar Properties LLC and USAA Real Estate Company.

The CBOT has been located at the site since 1885. A building designed by William W. Boyington stood at the location from 1885 to 1929, being the tallest building in Chicago from its construction until its clock tower was removed in 1895. The Boyington building became unsound in the 1920s and was demolished in 1929, being replaced by the current building designed by Holabird & Root. The current building was itself Chicago’s tallest until 1965, when it was surpassed by the Richard J. Daley Center.

Comparison With Other Staple Foods

The following table shows the nutrient content of wheat and other major staple foods in a raw form on a dry weight basis to account for their different water contents.

Raw forms of these staples, however, are not edible and cannot be digested. These must be sprouted, or prepared and cooked as appropriate for human consumption. In sprouted or cooked form, the relative nutritional and anti-nutritional contents of each of these staples is remarkably different from that of the raw form, as reported in this table.

In cooked form, the nutrition value for each staple depends on the cooking method .

Nutrient content of 10 major per 100 g dry weight,

Staple

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Cbot Corn Soybean Futures Rise

CBOT March 2022 wheat with 20-, 50- and 100-day moving averages .

Chicago | Reuters Chicago Board of Trade winter wheat futures fell 1.7 per cent on Wednesday as forecasts for mild temperatures and some rain in key growing areas raised hopes that the crop will be in good condition before it heads into dormancy, traders said.

U.S. weather for wheat looks pretty good, said Terry Reilly, senior commodity analyst at Futures International. The warmer temperatures are expected to maybe give wheat conditions a bit of a boost.

Corn and soybean futures firmed, recovering from overnight weakness after the U.S. Agriculture Department announced fresh export deals for both commodities.

Private exporters reported sales of 130,000 tonnes of soybeans to China, the fifth trading day in a row a flash sale of the oilseed was announced, and 1.844 million tonnes of corn to Mexico.

The impact of Mexicos deal was limited as the top buyer of U.S. corn typically makes a big purchase of U.S. corn in December.

Chicago Board of Trade March soybean futures ended up 10-3/4 cents at $12.61 a bushel . CBOT March corn was 1-1/4 cents higher at $5.87-1/4 a bushel.

Expectations for a bumper crop of both commodities in South America kept the gains in check. Forecasts have pointed to improved growing weather in recent days, but parts of southern Brazil remained dry.

Grain markets were cautious a day ahead of USDAs monthly world agricultural supply and demand estimates report.

Classes Used In North America

Grain Markets Lower Ahead of USDA Report

The named classes of wheat in English are more or less the same in Canada as in the US, as broadly the same commercial cash crop strains can be found in both.

The classes used in the United States are:

Red wheats may need bleaching therefore, white wheats usually command higher prices than red wheats on the commodities market.

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Chicago Corn Soybeans Also Weak

CBOT December 2021 wheat with K.C. December 2021 wheat and MGEX December 2021 wheat .

Chicago | Reuters U.S. wheat futures fell on Tuesday on a profit-taking setback, with the benchmark Chicago Board of Trade soft red winter wheat contract sagging 1.9 per cent from the nine-year high it hit on Monday.

Corn and soybean futures also were lower, but the declines were kept in check by signs of strong export demand, traders said.

A video call on Monday between U.S. President Joe Biden and Chinese counterpart Xi Jinping has also spurred hopes that renewed dialogue could bolster Chinese buying of U.S. soybeans.

The market suspects that Chinas importers have and will make hefty purchases of U.S. soybeans in that context, said Tobin Gorey, director of agricultural strategy at Commonwealth Bank of Australia.

A strong dollar, which makes U.S. commodities less attractive to investors looking for a hedge against inflation, added pressure as the greenback rose to a 16-month high.

This is really the last thing we need for our commodities, said Brian Hoops, president of Midwest Market Solutions.

CBOT December soft red winter wheat futures closed down 16 cents at $8.10-1/4 a bushel, its biggest one-day decline since Oct. 13. K.C. hard red winter wheat and MGEX spring wheat contracts also were sharply lower.

CBOT January soybeans were down six cents at $12.51-1/4 a bushel and CBOT December corn was off 5-1/2 cents at $5.71 a bushel.

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Us Wheat Bounces From Lowest In A Month Corn Weak Soybeans Firm

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CHICAGO, Dec 10 – U.S. wheat futures rebounded from a one-month low on Friday, gaining 1.1% on a round of bargain-buying and renewed interest on the export market, traders said.

Soybeans also were firm but corn was weaker on a technical setback.

News that Chinese buyers had booked a large amount of feed wheat from France and Australia also raised the prospect of importers stepping up purchases following the price fall in the last week.

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Chinese buyers have also booked French and Ukrainian barley along with Ukrainian corn since last week to cover feed grain needs, trade sources told Reuters. read more

A further planned rise in Russia’s wheat export tax for next week also kept attention on underlying strength in export prices.

“U.S. wheat suppliers are left out of the party for now, but I expect exports will pick up as long as the Russian export taxes remain high,” John Payne, a broker at StoneX, said in a note to clients.

Chicago Board of Trade March soft red winter wheat futures settled up 8-1/2 cents at $7.85-1/4 a bushel.

Wheat initially extended losses in overnight trading, hitting its lowest since Dec. 9, following Thursday’s U.S. Department of Agriculture report that included increased forecasts of world and U.S. wheat stocks. read more

CBOT January soybeans were up 3-1/4 cents at $12.67-3/4 a bushel.

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Corn Weak Soybeans Firm

CME Buys Kansas City Wheat Exchange

CBOT March 2022 wheat with 20-, 50- and 100-day moving averages .

Chicago | Reuters U.S. wheat futures rebounded from a one-month low on Friday, gaining 1.1 per cent on a round of bargain-buying and renewed interest on the export market, traders said.

Soybeans also were firm but corn was weaker on a technical setback.

News that Chinese buyers had booked a large amount of feed wheat from France and Australia also raised the prospect of importers stepping up purchases following the price fall in the last week.

Chinese buyers have also booked French and Ukrainian barley along with Ukrainian corn since last week to cover feed grain needs, trade sources told Reuters.

A further planned rise in Russias wheat export tax for next week also kept attention on underlying strength in export prices.

U.S. wheat suppliers are left out of the party for now, but I expect exports will pick up as long as the Russian export taxes remain high, John Payne, a broker at StoneX, said in a note to clients.

Chicago Board of Trade March soft red winter wheat futures settled up 8-1/2 cents at $7.85-1/4 a bushel .

Wheat initially extended losses in overnight trading, hitting its lowest since Dec. 9, following Thursdays U.S. Department of Agriculture report that included increased forecasts of world and U.S. wheat stocks.

CBOT January soybeans were up 3-1/4 cents at $12.67-3/4 a bushel.

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