This Day On The Street
Continue to site
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

Bonds Rebound, Nat Gas Slides: Market Bits

(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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG
BP $43.05 -0.94%
CQP $31.97 -0.25%
DVN $66.56 0.09%
EOG $97.37 0.67%
KMP $102.03 1.98%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs