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DJ GRAIN UPDATE: e-CBOT Lower Overnight(Comtex Energy Via Thomson Dialog NewsEdge)BUENOS AIRES, Feb 10, 2006 (Dow Jones Commodities News via Comtex) --(Dow Jones)--Grain futures traded on the overnight e-CBOT were lower at 1203 Friday. Last Change High Low Volume Mar Corn $2.22 3/4 -2 3/4 2.26 3/4 2.22 1/4 7552 Mar Wheat $3.58 3/4 -4 1/2 3.64 3/4 3.57 1/2 3503 Mar Soybeans $5.82 -5 3/4 5.91 1/4 5.80 1/4 3699 Mar Soymeal $180.90 -0.70 183.40 179.60 182 Mar Soyoil 22.49c -0.16 22.72 22.40 352 TOP STORIES: Argentina Helping EU Soy Importers Fight Monsanto Lawsuits The Argentine government is helping European soybean importers in their fight to prevent lawsuits and other actions by Monsanto (MON), a leading maker of soybean seeds, from disrupting soybean exports to the E.U., Gustavo Idigoras, Argentina's agricultural attache to the E.U., said Thursday. Analysts Differ On Path of CBOT Wheat-Corn Futures Spread CHICAGO (Dow Jones)--The price difference between the Chicago Board of Trade corn and wheat markets is widening, as market participants seek another way to capitalize on wheat crop concerns. FOCUS: Brazil's Big Soy Crop May Not Increase Farm Income SAO PAULO (Dow Jones)--Brazil is expected to harvest nearly 58 million metric tons of soybeans in the 2005-06 soy crop, but record production might not be enough to put the balance sheet of Brazilian soy farmers in the black. Commodities Market Impact Weather: Freeze Hits Central US OMAHA (Dow Jones)--The main weather items for the commodity trade's attention Thursday are the onset of a widespread Arctic cold wave throughout the central U.S. crop areas to finish out this week, more dry weather ahead for the southern Plains wheat areas in the next week, and a period of mostly dry conditions for the soybean areas of southern Brazil. STORIES OF INTEREST: India Govt Agency Calls Tenders To Buy 500,000 MT Wheat NEW DELHI (Dow Jones)--An Indian government agency State Trading Corp. Friday called for tenders to import 500,000 metric tons of wheat to meet domestic demand. Thai Jan-Dec 2005 Export Data For Major Ag Commodities BANGKOK (Dow Jones)--The following table shows Thailand's exports of sugar, rice, natural rubber, corn, palm oil and raw coffee during the January-December period 2005, compared with exports in the same period in 2004. China Soybean Prices Slightly Higher In Thin Trade BEIJING (Dow Jones)--Soybean prices in China's major soybean-producing regions rose slightly this week on strong crushers' demand after their stock of products like edible oils were depleted during last week's Chinese New Year holiday. Argentina's Corn, Wheat Prices Down; Soybeans End Higher BUENOS AIRES (Dow Jones)--Argentina's cash corn and wheat prices ended lower Thursday from a week ago while soybean prices were up, boosted by higher values at the Chicago Board of Trade. China Soybean Futures Slightly Up On CBOT; Corn Mixed BEIJING (Dow Jones)--Soybean futures on China's Dalian Commodity Exchange settled slightly higher Friday on overnight gains in soybean futures on the Chicago Board of Trade, traders said. USDA Sees Less Corn Stocks On Strong Ethanol Production WASHINGTON (Dow Jones)--The U.S. Department of Agriculture lowered its forecast Thursday for U.S. corn carryout in 2005-06 by 25 million bushels because of strong corn-based ethanol production that is expected to continue gaining strength. USDA Raises 2005-06 US Soybean Ending Stocks Forecast WASHINGTON (Dow Jones)--The U.S. Department of Agriculture Thursday boosted its forecast for 2005-06 soybean ending stocks to a record-level of 555 million bushels because of weaker-than-expected exports. CBOT Traders: USDA Report Seen Mostly Neutral; Funds Eyed CHICAGO (Dow Jones)--Traders at the Chicago Board of Trade found Thursday's U.S. Department of Agriculture monthly crop data to be mostly neutral, with a bearish tone for soybean futures due to the government's record U.S. carryout forecast. USDA: 148,000 MT Corn Sold To Unknown Destinations WASHINGTON (Dow Jones)--The U.S. Department of Agriculture announced Thursday private export sales of 148,000 metric tons of U.S. corn for delivery to unknown destinations. CBOT Raises Margin Requirements for Wheat, Ethanol Futures CHICAGO (Dow Jones)--The Chicago Board of Trade raised its minimum margins for wheat and ethanol futures, exchange officials said Thursday. EU Grants 231,262 Tons Intervention Wheat Export Licenses LONDON (Dow Jones)--The European Union Thursday granted licenses to export 231,262 metric tons of wheat and 17,861 tons of barley from intervention stores, E.U. figures show. Warmer Temps Continue Across West Canada Grain Belt - CWB WINNIPEG (Dow Jones)--Warmer than normal temperatures continued to cover the main grain growing regions of Western Canada, according to the Canadian Wheat Board's (CWB) crop summary for the week ended Feb. 6. Ukraine July-Dec 05 Barley Exports Dn 25.4% At 2.38 M Tons MOSCOW (Dow Jones)--Ukraine exported 2.38 million metric tons of barley between July and December 2005, the first six months of the current marketing year, according to the state statistics committee. Brazil Wheat Industry To Demand Govt Protection SAO PAULO (Dow Jones)--Brazilian wheat millers have asked the government to restrict Argentine wheat flour imports using a new trade policy between the two countries, Brazilian industry officials told Dow Jones Newswires. THE MARKETS: CBOT Corn Review: Climbs, Spec, Local Buys; Export Sales CHICAGO (Dow Jones)--Corn futures on the Chicago Board of Trade ended firm Thursday, climbing on speculative and local buying with a strong export pace and spillover strength from other grains and oilseeds supporting prices. CBOT Soy Review: Higher On Fund Buying; Spreads Noted CHICAGO (Dow Jones)--Chicago Board of Trade soybean and soy-product futures ended higher Thursday on speculative buying despite the U.S. Department of Agriculture's forecast for larger 2005-06 domestic and global soybean carryouts, brokers said. US Wheat Review: Higher On Fund, Technical Buying CHICAGO (Dow Jones)--U.S. wheat futures settled higher Thursday, shrugging off Thursday morning's mildly bearish U.S. Department of Agriculture supply and demand report. The report was a little bearish but not bearish enough to stop the funds from buying, a CBOT floor analyst said. US Cash Grain Review: Futures Strong; Basis Weak; Mkt Calm CENTRAL CITY, Neb. (Dow Jones)--U.S. cash grain markets were fairly calm Thursday, despite a speculator-inspired futures rally and issuance of a new crop report from the U.S. Department of Agriculture. -By Sumera Dean, Dow Jones Newswires; 4420-7842-9259; [email protected]; [email protected] (END) Dow Jones Newswires 02-10-06 0711ET |