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July corn deliveries not expected

06/27/2013 @ 12:35pm

No deliveries are expected against Chicago Board of Trade July corn and soybean futures contracts on first-notice day Friday, due to tight current supplies.

Friday will be first-notice day for July grain and soy futures, or the first day on which notices of delivery intentions against futures contracts can be received.

Low delivery intentions would signify that market participants would rather exit their market positions than provide commodities to a buyer--reflecting the scarcity of supplies after severe drought reduced U.S. corn and soybean output last year.

Most analysts expect delivery notices against the July corn and soybean contracts at zero.

Delivery notices against July soybean meal contracts are also expected to be zero, though analysts say delivery notices for July soybean oil contracts could range from 500 lots to 1,250 lots.

Analysts expect delivery notices against CBOT July wheat futures at somewhere between zero lots and 125 lots.

Write to Owen Fletcher at owen.fletcher@dowjones.com

(END) Dow Jones Newswires

June 27, 2013 09:59 ET (13:59 GMT)

DJ Tight Supplies Not Expected to Produce Any Corn, Soy Deliveries->copyright

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