Chicago | Reuters –– U.S. soybean futures climbed to a 1-1/2-week high on Tuesday while wheat and corn each gained about one per cent, boosted by investor short-covering and a backlog of export loadings at Brazilian ports. Prices rose as trade resumed following a three-day weekend due to Monday’s U.S. Presidents Day holiday. They were […] Read more
U.S. grains: Prices rise on short-covering, slow loadings in Brazil
Hang on, market turbulence ahead
FarmTech: Currency wars, actual wars, China, ocean freight, Russia, and oil are just a few of the things roiling grain markets these days
Reading Time: 4 minutes Tough times are here to stay. This was the message that Errol Anderson delivered to a silent, sombre room during a session at FarmTech. “There is no sense kidding ourselves about what is going on,” said Anderson, a market analyst and president of ProMarket Communications. “What we’re going through right now is a correction. There’s […] Read more
Timing of La Nina to play key role in Prairie moisture
CNS Canada –– As the El Nino weather phenomena slowly loosens its grip across Western Canada, many weather watchers say its impact has been somewhat underwhelming. However, one meteorologist said its lingering presence, coupled with the pending arrival of the La Nina weather event, may still play a large role in determining how much moisture […] Read more
Re-evaluation leads to retirement for Amitrol herbicide
Health concerns raised during the federal re-evaluation of Nufarm’s pre-seeding burndown herbicide Amitrol 240 have led the company to stop selling the product for nearly all uses in Canada, starting later this summer. The company said Wednesday it will retire Amitrol — a non-selective Group 11 liquid whose active ingredient, amitrole, has been on the […] Read more
U.S. grains: Exports spark gains in soybeans
Chicago | Reuters –– U.S. soybean futures rose 1.3 per cent on Thursday as the U.S. Agriculture Department’s report of stronger-than-expected exports spurred a round of short-covering, traders said. Corn futures were steady to weak, with the front-month contract settling unchanged while deferred contracts posted modest declines. Corn had fallen for six days in a […] Read more
Crude’s slide hampers demand for Canadian biofuel
CNS Canada — The trickle-down effect of slumping crude oil prices is being felt in the Canadian biofuel market and softening demand for corn and soybeans. Traditionally, ethanol is cheaper than gasoline, which encouraged processors to blend more than the mandated amount, according to Andrea Kent, president of the Canadian Renewable Fuels Association (CRFA). “When […] Read more
CBOT weekly outlook: Corn, soybeans stuck in trading range
CNS Canada — Corn and soybeans at the Chicago Board of Trade are stuck in a rut, according to one U.S. analyst, as fresh data revealed high supplies of both commodities. Corn – Since last week corn futures have shed 10.75 cents per bushel in the March contract, and 10.75 cents per bushel in the […] Read more
U.S. grains: Wheat rises on bargain buying
Chicago | Reuters — Chicago Board of Trade wheat futures firmed Wednesday, edging higher on a round of bargain buying and short-covering a day after prices hit their lowest in nearly six years, traders said. Corn and soybean futures were close to unchanged for most of the day but closed in negative territory. A bearish […] Read more
Monsanto to pay U.S. SEC settlement over Roundup earnings
Washington | Reuters — Monsanto will pay US$80 million to settle civil accounting violations after it allegedly misstated its earnings in connection with its top-selling Roundup product, U.S. securities regulators said Tuesday. The U.S. Securities and Exchange Commission (SEC) also said three accounting and sales executives have agreed to settle charges in connection with the […] Read more
USDA sees corn, wheat supplies rising as exports wane
Washington | Reuters — U.S. corn and wheat ending stocks will be higher than previously expected at the end of the marketing year due to a drop in already weak demand for U.S. supplies on the export market, the government said on Tuesday. The U.S. Agriculture Department in its monthly supply and demand report also […] Read more
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