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Lawsuit claims CME gave high-frequency traders special access

Lawsuit claims CME gave high-frequency traders special access

A group of traders has sued CME Group Inc., accusing the operator of the world’s largest derivatives exchange of selling market data to high-frequency traders, cheating other investors who lacked such access.

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WASDE reports wheat, soybeans up

U.S. wheat ending stocks for 2013 to ’14 are projected 25 million bushels higher, with lower imports more than offset by a reduction in feed and residual use. Imports are projected 5 million bushels lower based on available shipment data.

Pea markets steady

WINNIPEG, Manitoba — There isn’t a lot of news from the pea market. Trade is steady and mostly flat. Exports continue at a pace equivalent to just fewer than 3 million metric tons per year, largely to China, India and the U.S. Although exports are moving well, domestic use is lower and the carryover is building.

Uneventful USDA report

Uneventful USDA report

Wheat started last week with gains, but slipped into negative territory the second half of the week. Early support came from another week of decreasing crop condition ratings, while late session pressure came from a negative U.S. Department of Agriculture crop production report. For the week ending April 10, May Minneapolis lost 20.25 cents, September Minneapolis dropped 11.5 cents, July Chicago lost 6.5 cents and July Kansas City lost 9.5 cents.

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BNSF VP says rail backlog will gradually improve

BNSF VP says rail backlog will gradually improve

John H. Miller, vice president of agricultural products for Burlington Northern Santa Fe Railway, answered lots of questions on April 9 in a meeting of the North Dakota Ag Rail Business Council in Fargo. Among the efforts Miller mentioned are more passing lanes, double-tracking between Minot, N.D., and Glasgow, Mont., and new side tracks for passing

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Average farm prices indicate wheat, corn, soybeans up

The March index, at 95, increased 2.2 percent from February but is 15 percent below March 2013. The index increase for oilseeds and grains more than offset the index decrease for fruit and tree nut production.

Indian red lentil crop suffers

WINNIPEG, Manitoba — Reds lentils are the hot commodity. The Indian winter crop, by far the world’s largest, suffered from a lot of rain right at, or just before, harvest.

USDA report drives market

USDA report drives market

Wheat struggled last week with reports of moisture opportunities for the Southern Plains causing traders to head for the sidelines. The U.S. Department of Agriculture’s acreage report was friendly to wheat, but that was offset by a neutral stocks estimate. For the week ending April 3, May Minneapolis dropped 9.25 cents, September Minneapolis dropped 8.5 cents, July Chicago dropped 17.5 cents and July Kansas City lost 16 cents.

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Japan skips food wheat purchase tender this week

Japan’s Ministry of Agriculture skipped buying food quality wheat via a regular tender this week because of a custom of not conducting tenders in the first week of the new fiscal year starting April, as well as in the first week of a calender year.

Strength continues in wheat

Strength continues in wheat

Wheat traded with gains again last week with most of the support coming from continued dry conditions in the Southern Plains. For the week ending March 27, May Minneapolis gained 11 cents, September Minneapolis gained 15 cents, July Chicago gained 19 cents and July Kansas City picked up 17.5 cents.

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Mustard prices decent

WINNIPEG, Manitoba — Mustard markets have probably worked better than any other through the winter. Prices have stayed at decent levels, maybe not as high as you’d like, but far closer to year ago levels than wheat or canola.

Dust storms make wheat the leader

Dust storms make wheat the leader

Wheat had gains last week as focus returned to dry conditions on the Southern Plains with dust storms reported. Reports of winterkill also spurred a rally led by the Kansas City wheat market. Profit taking at the end of the week trimmed the gains. As of midday on March 21, May Minneapolis had gained 14 cents on the week, May Chicago was up 8 cents and May Kansas City gained 22 cents.

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WASDE report projects soybean exports up

There are no changes to the 2013 to ’14 U.S. all wheat supply and use projections this month. A 15 million bushel increase in projected hard red spring wheat exports is offset by a decrease for soft red winter wheat, with both changes reflecting the pace of sales and shipments. Projected ending stocks for both classes are adjusted accordingly. The projected season-average farm price for all wheat is up 10 cents on the bottom end of the range to $6.75 to $6.95 per bushel based on recent strength in prices.

Flax prices down

WINNIPEG, Manitoba — Flax prices, like those for every other prairie crop, have already come down hard. Prices had been about $15 per bushel a year ago. Supplies were tight and demand was firm. The carryout as of July 2013 was only 71,000 metric tons, which is pretty tight for the world’s largest flax producer.

Wheat surges, soybeans falter

Wheat surges, soybeans falter

Wheat had gains last week again, as the Ukrainian situation continues to make traders nervous, and dry weather in the southern U.S. is showing no signs of changing. As of midday on March 14, May Minneapolis had gained 30 cents on the week, May Chicago was up 36 cents, and May Kansas City gained 32 cents.

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