Chicago | Reuters — U.S. corn and soybean futures tumbled on Thursday on expectations that rains forecast for dry crop-growing areas of South America may limit harvest losses, traders said. Weather forecasts show parched areas of Argentina, the world’s top exporter of processed soy and No. 2 producer of corn, may receive significant rainfall from […] Read more
U.S. grains: Corn, soy sag on South America weather forecasts
Argentina rain outlook tempers crop fears
ICE weekly outlook: Despite declines, signs point to increases for canola
MarketsFarm — Although old-crop canola was falling back midway through the week of Jan. 10, analyst David Derwin of PI Financial in Winnipeg said the oilseed should “grind higher” in weeks to come. “The fundamentals haven’t changed at all — they’re not going to get more canola out of the ground until the fall,” he […] Read more
CBOT weekly outlook: ‘No fireworks’ in January USDA reports
MarketsFarm — Updated supply/demand data from the U.S. Department of Agriculture were slightly bearish for grains and relatively neutral for soybeans, although there were no real surprises, according to an analyst. “There were no fireworks out of this report,” said Terry Reilly of Futures International in Chicago. World numbers put some pressure on wheat futures, […] Read more
U.S. grains: Wheat futures fall on bigger-than-expected plantings, stocks
Winter wheat plantings exceed analysts' expectations; USDA also cuts corn, soybean crop estimates in South America
Chicago | Reuters — U.S. wheat futures extended losses on Wednesday after the U.S. Department of Agriculture projected that domestic farmers planted more acres than traders anticipated. Larger-than-expected USDA estimates for wheat inventories added pressure on the market, analysts said, after supply concerns drove Chicago Board of Trade futures prices to nine-year highs in November. […] Read more
U.S. grains: Wheat up on export business
Corn, soy firm ahead of USDA data
Chicago | Reuters — U.S. wheat futures rose about one per cent on Tuesday on a pickup in global export business and short-covering ahead of several key U.S. Department of Agriculture reports due on Wednesday, traders said. Corn and soybean futures edged higher ahead of the reports, which will include updated estimates of U.S. 2021 […] Read more
U.S. aims to double cover crop planting to address climate change
Farmers in 11 states to be eligible for program
Chicago | Reuters — The United States aims to double the country’s cover crop plantings to 30 million acres by 2030 under a new Department of Agriculture (USDA) conservation program launched on Monday. The agency’s Natural Resources Conservation Service (NRCS) will spend US$38 million to help farmers in 11 states plant crops at a time […] Read more
U.S. grains: Soy, corn sag on South American weather outlooks
Wheat firms
Chicago | Reuters — U.S. soybean and corn futures fell on Monday on forecasts calling for much-needed rains in dry areas of South America, along with long liquidation ahead of several key U.S. government reports due at mid-week, analysts said. Wheat futures firmed on short-covering and the unwinding of inter-market spreads. Chicago Board of Trade […] Read more
Funds holding record-large net long position in canola
MarketsFarm — Fund traders remain bullish in the canola market, growing their net long position to a new record in the latest Commitment of Traders report compiled by the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 68,140 contracts as of Jan. […] Read more
U.S. grains: Soybeans rally, following soymeal gains
Wheat capped by big Argentina, Australia crops
Chicago | Reuters –– Chicago soybean futures rallied on Friday, supported by soymeal demand and weather issues in South America. Corn followed higher, although crops in Argentina and Brazil are likely less impacted by drought in the region as they have more time to benefit from rainfall expected later this month. Wheat rebounded from a […] Read more
U.S. grains: Soybeans ease after weather rally
Corn firms, wheat slips to nearly three-month low
Chicago | Reuters — Chicago soybean futures dipped on Thursday as broad selling in financial markets countered weather concerns in South America that had pushed prices to a five-month high. Corn ended just above even, paring losses as private estimates of South American crops fell further due to hot, dry conditions in the region. Wheat […] Read more
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