Chicago Board of Trade soybean futures inched down on Wednesday, retreating after rallying to the highest levels since August, as improved Brazilian weather outlooks bolstered supply prospects and overshadowed demand from record U.S. soybean crushings last month.
U.S. grains: Soy ends down on forecasts for rain in Brazil; corn, wheat dip
Brazilian weather outweighed support from data showing record U.S. soybean crush
ICE weekly outlook: Funds in control of market – for now
Spec funds were keeping a close eye on the weather in Brazil says analyst
With a record short position in canola, managed money is largely in control of the market according to analyst Wayne Palmer of Exceed Grain in Winnipeg.
Harvest sample program runs until month’s end
Reading Time: < 1 minute Farmers have until Nov. 30 to submit samples to the Canadian Grain Commission’s Harvest Sample Program. It’s a voluntary program open to all Canadian grain producers. In exchange for the samples, they’ll receive valuable insight into the quality of the crop they have available to market this crop year, including:
Canola sector gets research boost
The federal government is putting up $9 million to drive the sustainable growth of Canada’s canola sector. The funding comes from the AgriScience Program—Clusters Component, an initiative under the Sustainable Canadian Agricultural Partnership and was announced today (Nov. 14) in Winnipeg by Lawrence MacAulay, the federal agriculture minister. “This new Canola Cluster will build on […] Read more
Storage strategies change with bigger bins
As storage systems have grown, more attention is needed to keep crops safe
Reading Time: 4 minutes Glacier FarmMedia – In the 1970s, a standard bin was 14 feet in diameter with a capacity of 1,350 bushels. High rollers might add an extra ring to stretch that another 300 bu. There were bins 19 feet in diameter, with a 2,700 bu. capacity, but few farmers bought them because they were hard to […] Read more
ICE weekly outlook: Soy complex supporting canola
'Canola has been largely pulled up'
MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to […] Read more
Net speculative short position in canola tops 100,000 contracts
Net long increases in CBOT soy
MarketsFarm — Speculative fund traders continued to add to their large short positions in canola futures during the last week of October, taking the net managed money short position over 100,000 contracts for the first time on record, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As […] Read more
Louis Dreyfus to build Ohio soy crush plant
Reading Time: < 1 minute Louis Dreyfus will build a soybean-processing plant in Ohio, the global crop merchant said recently, adding to a booming expansion of oilseed crushing in North America encouraged by biofuel use. Dreyfus intends to start construction in early 2024 on the facility in Upper Sandusky that will have annual soy-crushing capacity of 1.5 million tonnes, the company said […] Read more
The benefits of multiple soil tests
Selecting test sites for the least common denominator could waste opportunities
Reading Time: 4 minutes Most farms don’t do even one yearly soil nutrient test per field, but maybe they should be doing three. Three tests would enhance farmer understanding of in-field variability in a way that one test cannot. Soil tests that demonstrate the variability of field conditions might prompt producers to adopt a three-test approach. According to Fertilizer […] Read more
ICE weekly outlook: Falling canola market seeks support
Canola seen as 'fairly cheap' but not attracting interest
MarketsFarm — The ICE Futures canola market continued its months-long downtrend as the calendar flipped over to November, with the futures looking for an outside catalyst to spark a corrective bounce. While canola has seen occasional attempts at correcting higher over the past two months, any gains proved short-lived. “The oilseeds are very swingy and […] Read more
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