Chicago | Reuters — The Chicago Board of Trade’s most-active corn futures plunged sharply on Thursday after the government reported that U.S. farmers will produce the biggest-ever corn crop this year. The report’s forecast topped trade estimates. The most-active CBOT corn contract at one point dipped to $4.66-1/2, the lowest price since Dec. 30, 2020, […] Read more
U.S. grains: Chicago grain, soy futures drop after USDA forecasts
China buys over one million tonnes of U.S. soy
El Nino to continue through Northern Hemisphere spring, U.S. forecaster says
Reuters — El Nino weather conditions will continue through the Northern Hemisphere during April-June 2024 with a 62 per cent chance, a U.S. government weather forecaster said on Thursday. “Above-average sea surface temperatures (SST) across the equatorial Pacific Ocean were indicative of a strong El Nino, with anomalies increasing in the central and east-central Pacific […] Read more
USDA’s WASDE report throws a few curveballs
Corn carryover up significantly
MarketsFarm — There were some surprises in the November world agricultural supply and demand estimates (WASDE) from the U.S. Department of Agriculture, released Thursday. USDA defied trade expectations when it came to 2023-24 ending stocks of U.S. corn, soybeans, and all wheat, with those being higher. As well, the department came in above what the […] Read more
Bayer’s crop marketing, crop production platforms in sync
FieldView, Combyne platforms now integrated
Combyne, the made-in-Canada grain marketing platform Bayer bought earlier this year, is now fully on speaking terms with the company’s Climate FieldView precision ag platform. Bayer on Oct. 30 announced integration of the two platforms, which it said will allow grain farmers in Canada and the U.S. to connect their marketing data in Combyne and […] Read more
U.S. grains: Soybeans spike on China demand, Brazil weather
Wheat rallies on Argentina outlook
Chicago | Reuters — Chicago soybean prices rallied to a two-month high on Wednesday, after the U.S. Department of Agriculture confirmed a Reuters report that China booked its largest single-day U.S. soybean purchases since at least late July. Unfavourable weather conditions in Brazil were also supportive, traders said. Meanwhile, corn turned higher on the day […] Read more
Prairie Forecast: False start to winter as mild air returns
Issued Nov. 7, covering Nov. 8 to 15
It looks more and more as though our late-October cold snap and snowy conditions were indeed a false start to winter. In the last forecast I mentioned the really cold air looks to be bottled up well to our north, and it was and will be for the next week or two. You can get […] Read more
Seaway workers ratify labour deal
Deal ended one-week strike on waterway
Unionized workers on the St. Lawrence Seaway in Ontario and Quebec have voted their approval of the agreement that brought them in off the picket line. Unifor, which represents about 360 Seaway workers across five locals in the two provinces, announced Thursday its members had voted to ratify a three-year agreement retroactive to April 1. […] Read more
U.S. grains: Wheat down on supply outlook boost
Soybeans hit two-month high before retreating; expected increase in U.S. yields weighs on corn
Chicago | Reuters — U.S. wheat futures declined on Tuesday as the markets reacted to better-than-expected crop conditions, while soybean futures climbed to a two-month high on adverse weather conditions in Brazil before retreating. The U.S. Department of Agriculture (USDA) rated 50 per cent of the country’s winter wheat crop in good-to-excellent condition after trading […] Read more
Prairie cash wheat: Weaker U.S. values pull down Canadian prices
Lower export sales drag on U.S. wheat
MarketsFarm — Wheat prices across the Canadian Prairies fell back during the week ended Nov. 2, with losses in Canada Western Red Spring and Canada Prairie Spring Red wheats, while those for Canada Western Amber Durum were mostly lower. The U.S. wheat complex lost ground during the week, due in part to lacklustre export sales. […] Read more
U.S. grains: Chicago soybeans find two-month high
Wheat crop above expectations
Chicago | Reuters — Chicago soybean futures on Monday hit their highest level in some eight weeks on weather concerns in top exporter Brazil and arid conditions in Argentina. Corn futures finished unchanged, while wheat rose slightly as weakness in the U.S. dollar added support to the markets. Traders monitored uneven crop weather in Brazil, […] Read more