Soybean and corn futures at the Chicago Board of Trade suffered a profit-taking correction on May 29, as speculative positioning and relatively favourable seeding progress across the United States weighed on values.
Chicago soybeans/corn watching weather, wheat
Manitoba crop report: Seeding continues despite large rainfall
Despite heavy rains as well as snowfall, Manitoba farmers were still able to make planting progress during the week ended May 25, according to the province’s weekly crop report.
U.S. grains: Wheat hits 10-month high on reduced Russian crop outlook
Chicago benchmark wheat futures rose on Tuesday, supported by reduced harvest projections in Russia, Wv1 hitting a 10-month high before paring gains.
St. Lawrence Seaway grain movement up five per cent in 2023
Grain movement through the St. Lawrence Seaway was up by five per cent in 2023 compared to the previous year, with Canadian wheat accounting for well over half of all the grain moved, according to a joint report from the Canadian St. Lawrence Seaway Management Corporation (SLMC) and the United States Great Lakes St. Lawrence Development Corporation (GLS) released May 27.
Gene editing race, illegal seed use in crosshairs at World Seed Congress
European Union pushes for alternative seed coatings in a bid to reduce microplastics
Canada is now green on global maps shown at the World Seed Congress in Rotterdam. There’s regulatory certainty for gene-edited crops after regulations were announced in April. That means Canada can play a part the rapid growth of innovation around the world.
Fund short position steady in canola
The managed money net short position in canola futures held steady during the week ended May 21, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Farm wages, benefits have room to improve, survey says
Agriculture wages lag behind fields like construction, manufacturing, transport; jobs may lack basic benefits
"While some agriculture employers offered these benefits, many participating organizations do not offer any flexible work arrangements or basic benefits like sick days," CAHRC wrote in a report on its 2024 survey of compensation practices in Canadian agriculture.
U.S. grains: Wheat rises 7 per cent this week on Russia crop worries
Chicago Board of Trade wheat futures closed nearly flat on Friday but rose seven per cent for the week as concerns grew over crop losses in Russia and other exporting countries.
U.S. grains: Wheat ends up on Black Sea crop worries, but rally seen losing steam
Chicago Board of Trade wheat futures extended gains on Thursday after reaching a 10-month peak a day earlier, as lingering dryness and worries over the Black Sea crop continued to underpin the market.
Saskatchewan sees good seeding progress, but behind average pace
Spring planting in Saskatchewan progressed 24 points during the week ended May 20, putting seeding at 56 per cent complete, according to the provincial Agriculture department. However, that’s 12 points behind this time last year and well below the five-year average of 76 per cent finished.
Cyber-Savvy Farmer
