Tumble on Europe debt jitters
The declines Canada Goose Coats On Sale were accentuated as hedge funds booked profits ahead of the end of the month and quarter. Corn was on track for a second straight monthly decline, and soybeans Canada Goose Jackets headed for their first drop in four months.
Corn futures fell Canada Goose sale 2.5 percent to the lowest level uk canada goose in nearly three months. Like soybeans, corn was pressured by the harvest in the world top grains exporter moving at canada goose black friday sale a record clip, boosting supplies in the pipeline. drought in half a century, but now they are turning canada goose their attention to macro economic factors, including a stronger dollar, for price direction.
Analysts said investors were liquidating long positions in grains after prices hit record highs this summer. They said prices have been pressured canada goose store by anecdotal accounts of better than expected soybean yields and dimming demand for corn.
supplies are coming into the market and there was some balancing of books before canadian goose jacket end of the month and quarter, said Sterling Smith, futures specialist at canada goose coats on sale Citigroup in Chicago. crude oil falling 1.5 percent and ethanol production in the United States slumping 3 percent last week to a two month low.
China corn imports are expected to drop just over 60 percent next year, according to a Reuters poll.
But the biggest market mover of the day was the debt Canada Goose Outlet crisis in Europe, which helped to strengthen the dollar and shift the attention away from fundamentals.
took the diverging path due to supply side fundamentals in the third quarter, but the two roads are coming together now. said Mike Zuzolo, president of Global Commodity Analytics in Lafayette, Indiana.
are back to protesting in Europe and we are seeing buy canada goose jacket cheap risk cheap canada goose uk off trade, he added.
Investors worried about Europe debt crisis as tens of thousands in Greece took canada goose uk outlet to the streets in the country biggest anti austerity demonstration in months even as the European Central Bank began buying bonds to restore economic buy canada goose jacket confidence.
Spain Prime Minister Mariano Rajoy said he was ready to seek a new rescue package if the country debt financing costs remained too high for too long. grains overseas.
Chicago Board of Trade November soybeans fell 38 1/2 cents, or 2.4 percent, to close at $15.73 a bushel. CBOT December corn was down 19 cents, or 2.6 percent, at $7.24 3/4 a bushel while December wheat fell 17 1/4 cents, or 2.0 percent, to $8.69 1/4. quarterly grain stocks and wheat canada goose factory sale crop reports which may provide new direction for markets.
is pretty hesitant to make any cheap Canada Goose moves ahead canada goose outlet of the USDA grains stocks report on Friday, Rabobank analyst Erin canada goose coats FitzPatrick said. corn harvest does raise questions about how this will impact the stocks report. corn and soybean stocks Canada Goose online as of Sept. 1 to be the lowest in eight years at the end of the 2011/12 season (Sept/Aug). There were no purchases of wheat from Russia, which has been a major supplier to GASC the past month.
The absence of Russian wheat sales could reinforce speculation that one of the world top wheat exporters uk canada goose outlet was running out of supplies for export after Canada Goose Online a drought slashed its harvest this year.
There have been persistent rumors that Russia could limit exports, but with its prices rising steadily https://www.forcanadagoose.ru over the past month, its supplies could have become less competitive.
are pretty much done as far canada goose clearance as being an exporter, said Dan Basse, president of AgResource Co in canada goose uk shop Chicago, adding that Russian wheat canada goose uk black friday prices were the canada goose clearance sale highest in 20 years.
He said demand from North African countries could now come to other suppliers like Canada, the United States and Australia, where dry weather is raising concerns over crop Canada Goose Parka prospects.
European benchmark November wheat in Paris ended 0.1 percent higher at 261.50 euros a tonne on export prospects. (Additional reporting by Michael Hogan in Hamburg and Colin Packham in Sydney; Editing by Alison Birrane, Alden Bentley and David Gregorio).