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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Natural Gas, Cocoa Pop: Market Bits

Wheat for May delivery tumbled 1.9% to $7.38 ½ a bushel.

"Wheat is actually being hit hard because of the forecasts," said MaxYield Cooperative Grain Solutions Team Leader Karl Setzer. Weather forecasters are predicting widespread rains on some of the driest regions of the Plains, many of which are wheat-producing regions. "As a result, we are seeing risk premium pulled back out of the futures market on wheat."

In addition, Russia and Ukraine's wheat crop are expected to be much larger than last year, Setzer said. Russia has decided to re-enter the export market after banning exports since last August as they conserved the grain during their own wheat drought.

"Australian officials are also talking of not only a better wheat crop than a year ago, but the largest one in history. The global market is in little danger of running out of wheat."

Wheat was sinking with other commodities, such as palladium, Brent crude oil, soybeans and corn on profit-taking -- instigated by Goldman Sachs' announcement that it's abandoning its long positions in a basket of commodities, the analyst said. "Some of the longs in the commodities were established $2 to $4 ago, and speculators are finally taking this off the table," Setzer explained.

Crop nutrient company Mosaic (MOS) was falling 2.3% to $75.05, while peer Agrium (AGU) was losing 0.5% to $88.42. Farm equipment maker Deere (DE) was flat at $93.63.

Food companies General Mills (GIS) and Kellogg (K) were rising 0.4% to $36.75 and $55.08, respectively. Meanwhile, restaurant McDonald's (MCD) was down 0.2% to $76.76, while its competitor Wendy's Arby's (WEN) was falling 1% to $4.76.






(Published at 10:42)

The British pound was rallying against other major currencies Thursday morning on strong economic data.

3 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 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

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