Chicago wheat and corn futures ticked higher on Tuesday after sharp declines on Monday, while most-active soybean futures closed at their lowest point in nearly four years, as expectations of ample supplies from northern hemisphere harvests hung over the market.
U.S. grains: Wheat, corn recover after slide; soy hits 2020 low
Global crop yields have not kept up with increasing demand
Sluggish production blamed on adverse weather conditions and high input costs that lead to reduced fertilizer use
The global stocks-to-use ratio for the major crops, excluding China, has been trending down since 2018, Jason Newton, Nutrien’s chief economist, told delegates attending the 24th International Farm Management Association Congress in Saskatoon.
U.S. grains: Soybean, grain futures drop on expectation of positive crop report
Chicago Board of Trade soybeans and corn futures on Monday dropped to around the lowest prices in four years, as traders expected a positive picture of U.S. crop progress from the U.S. Department of Agriculture (USDA) in a report due later in the day.
Fund short position in canola at four-month high to start July
Fund traders continued to add to their large net short positions in canola as the calendar flipped to the final month of the 2023/24 marketing year for the crop, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Alberta crops doing quite well
Crops throughout Alberta stood at 75 per cent good to excellent as of July 2, according to the latest crop report from the provincial agriculture department. That was eight points above the five-year average despite cooler than normal temperatures and delayed crop development due to excessive rain for most of the province so far this year.
U.S. grains: US wheat futures up on strengthening demand
Chicago Board of Trade wheat futures spiked on Friday amid an uptick in demand for U.S. wheat due to a weaker dollar and the availability of desirable new-crop wheat, traders said.
Saskatchewan’s crops remain in good shape, but are still behind
Although crop conditions in Saskatchewan were good, the province’s latest crop report said development continued to fall behind normal for this time of year. Saskatchewan Agriculture pointed to the cooler temperatures and wet conditions as why development has been slower this year.
U.S. grains: Soybean futures recover from four-year low
Chicago Board of Trade soybean futures rose on short covering on Wednesday after nearing a four-year low this week on concerns about large supplies and lackluster U.S. export demand, analysts said.
United Farmers of Alberta buys stake in Canterra Seeds
United Farmers of Alberta (UFA) announced today it had purchased nearly 1.3 million shares in Winnipeg-based Canterra Seeds.
CBOT Weekly: Still at the behest of the weather
United States corn and soybean crops continued to remain at whatever whims the weather brings, according to John Weyer of Walsh Commercial Hedging Services in Chicago.
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