This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bonds Rebound, Nat Gas Slides: Market Bits

Stocks in this article: DVN NFX CQP LNG EOG KMP BP SLE CPB PNRA KFT CPO ADM BG SHY TLT TLH CVX TOT TIP

(Published at 1:17 pm ET)

Wheat prices were retreating after visiting positive territory Friday as the markets' attention turned away from news that La Nina is threatening to endanger crop yields and back to a bearish stock report.

Wheat for May delivery was falling 1.9% to $7.48 ¾ a bushel, coming off the intraday high of $7.74, as the markets revisited a slightly bearish U.S. Department of Agriculture (USDA) report from Thursday.

Earlier, on Friday morning, wheat was advancing more than 1% as meteorologists warned that leading wheat producers including China and the U.S. would be suffering more drought with the looming La Nina. This, of course, would cause wheat yields to suffer.

The La Nina weather phenomenon refers to the cooling of surface temperatures in the Pacific Ocean.

Still, as noon approached, the markets began revisiting the USDA report that said wheat inventory rose 5% from a year ago to 1.42 billion bushels on March 1.

"We are also seeing some pre-weekend profit taking and selling on wheat to cover margin exposure in corn," said MaxYield Cooperative Grain Solutions Team Leader Karl Setzer.

Soybeans followed suit, falling 1.2% to $13.93 ¾ a bushel for May delivery on news China has cancelled a few export bookings, the analyst said.

Food companies were rising in midday trading.

2 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs