MarketsFarm — Sizeable reductions to Argentina’s soybean and corn crops were confirmed in the latest supply/demand estimates (WASDE) from the U.S. Department of Agriculture, with more reductions likely in future reports. However, attention in the markets is starting to shift to North American weather, with spring seeding just around the corner. “The USDA was a […] Read more
CBOT weekly outlook: Argentina estimates lowered, but attention soon shifting north
U.S. corn, soyoil export outlooks 'a little concerning'
ICE weekly outlook: Upswings likely out of question for canola
Canada's exports expected to ebb
MarketsFarm — Don’t expect any large increases in canola prices any time soon, according to Ken Ball of PI Financial in Winnipeg. In fact, there’s a good chance seen that old-crop canola could fall below its support level of $800 per tonne. Ball said 2022-23 canola ending stocks in Canada could increase because of the […] Read more
U.S. grains: Wheat at 18-month low on Black Sea deal hope
Soybeans boosted by slash to Argentina harvest
Chicago | Reuters — Chicago wheat futures on Wednesday fell to their lowest point in 18 months on expectations for a Black Sea grains deal and continued poor demand for U.S. exports. “Wheat was down most of the day, initially on talk of corridor extension talks, then off a lackluster WASDE report,” Charlie Sernatinger of […] Read more
U.S. grains: Wheat rebounds off 17-month low
USDA's new WASDE awaited
Chicago | Reuters — Chicago wheat futures edged higher on Tuesday, consolidating above a 17-month low as the market assessed mixed growing conditions in the U.S. Plains and awaited further direction from U.S. government crop forecasts. Prices were rebounding after dipping below $7 a bushel, Don Roose, president of U.S. Commodities in West Des Moines, […] Read more
U.S. grains: Wheat below US$7 on hopes for Ukraine export extension
CBOT corn down, soybeans up
Chicago | Reuters — Benchmark Chicago wheat futures dropped below US$7 per bushel on Monday for the first time in 17 months, pressured by reminders of adequate global supplies and optimism that the safe corridor to export grain from war-torn Ukraine will be extended, traders said. Corn futures also declined. But soybeans rose as Chicago […] Read more
U.S. grains: Soybean, corn futures end week strong
Chicago May wheat falls
Chicago | Reuters — U.S. soybean futures rose for the third consecutive day on Friday, supported by expectations that the soy crop in global supplier Argentina is smaller than estimated because of damage from drought conditions. “Behind the support in the market is the simple fact that this is horrible finishing weather for the soybeans […] Read more
U.S. grains: Soybeans up on technical bounce
Wheat firm; corn weak
Chicago | Reuters — U.S. soybean futures rose on Thursday, extending their rebound from the one-month low hit this week on a round of technical buying, traders said. “I think we got too cheap too fast and we are seeing a technical recovery,” said Scott Harms, Ag risk specialist at Archer Financial Services. Wheat futures […] Read more
ICE weekly outlook: Canola drifts downward with soybeans
Wheat's recent decline may spur canola acres
MarketsFarm — The ICE Futures canola market drifted downward during the week ended Wednesday largely due to macroeconomic activity in the markets, according to one analyst. Jerry Klassen from Resilient Commodity Analysis in Winnipeg said canola prices have mostly followed the lead of the Chicago soy complex, while rains fell on Brazil as its soybean […] Read more
CBOT weekly outlook: It still comes down to South America
Continent's soy situation conflicting
MarketsFarm — Although the U.S. Department of Agriculture (USDA) is set to issue its next supply and demand estimates on March 8, what’s going on in South America continues to dominate the Chicago Board of Trade (CBOT), according to Andrew Mages of Progressive Ag in Fargo, N.D. “Typically it’s not the most important report because […] Read more
U.S. grains: Soy, corn, wheat futures bounce after declines
Chicago | Reuters — U.S. soybean, corn and wheat futures rose on Wednesday, with bargain buyers snapping up commodities that posted sharp declines during February. The higher closes in soybeans and corn snapped a stretch of five straight losing sessions. Traders said that the recent sell-off may have sparked some buying interest from importers that […] Read more
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