Chicago soybeans inched higher on Friday, with the market set for a weekly gain after recovering from a three-year low hit earlier this week, as expectations of lower production in Brazil underpinned prices.
Top exporter Brazil’s soybean harvest will be smaller than originally thought after excessive heat and dryness clipped yields in key growing areas, but much of the recent crop cuts has been offset by stealthy expansions in last year’s output.
The rebound in palm oil prices is likely to be capped by abundant supplies of rival soyoil and sunflower oil, "soft" oils that are available at discounts to tropical palm oil for the first time in more than a year.
The Federal Aviation Administration is exploring the use of an independent third-party to oversee Boeing inspections and quality oversight after evidence emerged the planemaker failed to install key bolts on a jet that suffered a midair emergency.
Global cocoa prices hit fresh record highs on Thursday as
traders continued to scramble for supplies, predicting ever
wider deficits this season and with concerns growing for the
next.
Chicago Board of Trade soybean futures ended the day higher on Thursday on a flurry of late-session buying, as the market struggled to gain clarity on the size of the Brazilian crop, traders said.
Chicago Board of Trade soybean futures fell on Thursday, in the wake of government crop data that lowered the forecast for Brazil's soybean crop following this season's hot, dry weather.
ICE cotton futures were little changed on Thursday, after a mixed federal monthly supply-demand report that forecast lower global supply and weak demand for the 2023-24 marketing year.
The United States will import sugar at higher costs from places other than its main supplier Mexico, as production there has fallen due to adverse weather conditions, the U.S. Department of Agriculture (USDA) said on Thursday.
The benchmark S&P 500 index was muted on Thursday, lingering near the 5,000-point mark, as investors sized up major corporate earnings reports, a roughly in-line jobs report and remarks from policymakers on interest rate cuts.
Brazilian grain exporters lobby Anec on Thursday warned it was concerned about a rise in farmer bankruptcy filings in the country, adding a recent increase in cases potentially compromises the execution of grain contracts.
Spirit Airlines said it expects to operate with a positive cash flow from the second quarter after it reported a narrower-than-expected loss on Thursday, on strong domestic demand for travel during the holiday season.