Grains brace for WASDE, end mixed
U.S. grain and soybean futures sustained a mixed trend as the session ended Wednesday.
Traders bracing for the release of the U.S. Department of Agriculture's monthly crop report on Thursday took a cautious approach, with market participants adjusting their positions ahead of the monthly supply-and-demand forecasts for such major agricultural commodities as corn, soybeans and wheat, traders said.
Some investors were exiting futures positions to reduce risk exposure, taking a cautious approach as estimates from federal forecasters could cause price swings in futures markets if they differ substantially from analysts' expectations.
With futures yet to settle, Chicago Board of Trade July soybean futures were down 20 1/4 cents, or 1.3%, at $15.93 a bushel, July corn was up 5 3/4 cents, or 0.8%, at $7.09 3/4, and July wheat dropped 3 1/4 cents, or 0.5%, to $6.72 1/4.
- See how Wednesday's trade unfolded in Marketing Talk
- USDA report preview table
- Farmers report 'interesting' basis levels Basis levels
- Grain markets 'fires' & USDA data coming up
- Get the 'Big Picture' with Optioneye
MORE VIDEOS >>
Write to Andrew Johnson Jr. at firstname.lastname@example.org
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
July 10, 2013 14:44 ET (18:44 GMT)
DJ U.S. Grain, Soy Stay Mixed; Brace for USDA Reports->copyright
Sign up for our Market Email Alerts!