Chicago | Reuters — U.S. soyoil futures surged to a record high on Wednesday after Indonesia broadened its export ban on raw materials for cooking oil to fight food inflation, traders said. “The move dramatically tightens an already tight global supply of edible oils that saw global prices surge when the Russian invasion of Ukraine […] Read more
U.S. grains: Soyoil futures rally to record high
Corn hits highest since August 2012
U.S. grains: CBOT corn, wheat up on concerns about U.S. crops
Chicago soybean futures fall
Chicago | Reuters — U.S. wheat and corn futures rose on Tuesday, supported by concerns that adverse weather in key production areas would limit the size of harvests this year, traders said. Soybean futures eased as Brazil’s Anec raised its outlook for the country’s export forecast for the oilseed. Losses were kept in check by […] Read more
U.S. grains: CBOT soyoil futures fall from highs; pull soybeans lower
Chicago | Reuters – Chicago Board of Trade soyoil futures fell on Monday, retreating from all-time highs after Indonesia’s agriculture ministry said that crude palm oil shipments would be excluded from a planned palm oil export ban. The weakness in soyoil pressured soybeans and soymeal, which also faced bearish headwinds from a sharp drop in […] Read more
EU’s oilseed yields expected to decline in 2022-23
USDA's attaches predict uptick in EU's oilseed acres
MarketsFarm — The U.S. Department of Agriculture’s (USDA) attachés in Europe have projected oilseed production in the 27-member European Union to increase just slightly in 2022-23. The 18 attachés involved in the report expect about 31.07 million tonnes in total, for a 0.4 per cent bump in total oilseed output from 2021-22. The oilseeds included […] Read more
U.S. grains: Soyoil surges on Indonesia export ban
Soybean, corn futures sag on profit-taking
Chicago | Reuters — U.S. soyoil futures surged to all-time highs on Friday after Indonesia blocked exports of palm oil, a competing vegetable oil, but soybean and corn futures fell on profit-taking ahead of the weekend. Wheat futures ended modestly lower after a choppy session as brokers weighed tightening global grain stocks against sluggish export […] Read more
Indonesia bans palm oil exports as global food inflation spikes
Government under pressure to control cooking oil prices
Jakarta | Reuters — Indonesia, the world’s top palm oil producer, announced plans to ban exports of the most widely used vegetable oil on Friday, in a shock move that could further inflame surging global food inflation. The halting of shipments of the cooking oil and its raw material, widely used in products ranging from […] Read more
IGC tweaks old-crop numbers, makes bigger changes in new-crop
MarketsFarm — There were a few tweaks to the old-crop data in the April supply/demand report from the International Grains Council (IGC) on Thursday — but somewhat more significant numbers for its new-crop projections. For the 2021-22 crop year, the IGC bumped up total global grain production by three million tonnes at 2.287 billion tonnes, […] Read more
U.S. grains: Corn, wheat retreat from recent highs
Soybean futures edge higher
Chicago | Reuters — U.S. corn futures fell on Thursday on disappointing weekly U.S. export sales data and a round of profit-taking after multi-year highs set this week, analysts said. Wheat futures also fell, retreating from recent six-week highs, while soybean futures inched higher, supported by export demand for U.S. supplies and spillover strength from […] Read more
U.S. grains: Soybeans climb on export optimism
Chicago wheat eases on profit-taking
Chicago | Reuters — Chicago soybean futures rose on Wednesday, with the July contract hitting a two-month high on optimism about export demand for U.S. supplies of the oilseed, analysts said. Corn followed soybeans higher, with front contracts leading the way up in both markets. But wheat futures fell on profit-taking, easing a day after […] Read more
CBOT weekly outlook: Traders look to skies for market guidance
MarketsFarm — Much of the focus from the Chicago Board of Trade (CBOT) for the week ended Wednesday has shifted away from besieged Ukraine — and toward areas closer to home. Prices for nearby corn and soybean contracts rose over the past week due to weather-related rallies, but wheat prices held rangebound. The U.S. northern […] Read more
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