MarketsFarm — There very likely won’t be any resurgence in canola that would see old-crop futures exceed $1,000 per tonne in the near future, according to analyst Errol Anderson of ProMarket Communications in Calgary. In recent days, canola has been taking a series of hard hits, which have pulled the January and March contracts under […] Read more
ICE weekly outlook: Days of $1,000 canola done, for now
CBOT weekly outlook: Markets ‘resilient’ in face of Omicron
MarketsFarm — While fears over the newly-identified Omicron COVID-19 variant caused a sharp downturn Friday in oil and equities, crop prices on the Chicago Board of Trade (CBOT) were not as hard hit. “This new COVID-19 variant has got some traders spooked in the market here in thinking there might be some economic slowdown and […] Read more
U.S. grains: Wheat extends slide as Omicron worries mount
Corn, soybeans also slip on virus fears
Chicago | Reuters — Chicago wheat prices fell to a nearly three-week low on Tuesday, as concerns that the spread of the Omicron coronavirus variant could slow the global economy drove investors to reduce risk exposure. The entire grains complex felt pressure early in the session, after Moderna’s CEO cautioned that COVID-19 shots were unlikely […] Read more
U.S. grains: Wheat drops as U.S. dollar edges higher
Australia forecasts record wheat crop; corn, soy down on good South America weather
Chicago | Reuters — U.S. wheat futures retreated on Monday on a firmer dollar and as a record harvest outlook from major exporter Australia eased recent concerns about rain-damaged crops. Corn and soybeans followed wheat lower, pressured by technical selling and profit-taking and by good weekend rains in Argentina and parts of Brazil. Chicago Board […] Read more
U.S. grains: New COVID variant scares markets
Soybeans, wheat drop; corn rebounds
Chicago | Reuters — U.S. soybean futures fell Friday as news of a new COVID-19 variant discovered in South Africa sent oil and equities markets lower, with moves exaggerated by low trade volume across the grain and oilseed commodities. Chicago Board of Trade January soybeans lost 13-3/4 cents, at $12.52-3/4 a bushel, the contracts biggest […] Read more
ICE weekly outlook: Canola market strong but choppy
MarketsFarm — Nearby ICE Futures canola contracts climbed to fresh highs during the week ended Wednesday, while= deferred months moved lower. The new-crop November 2022 contract had overshot to the upside and was due for a correction, said Keith Ferley of RBC Dominion Securities in Winnipeg. Any weakness would likely be met by commercial buying, […] Read more
CBOT weekly outlook: Expect sideways trading during holiday season
MarketsFarm — Just as the United States enters its holiday season, starting with Thanksgiving, one analyst said movements on the Chicago Board of Trade (CBOT) will most likely be sideways for the balance of 2021. “There’s good weather in South America, maybe too much rain in Australia. We have to remember rain makes grain,” Bryan […] Read more
U.S. grains: Markets retreat on pre-Thanksgiving liquidation
CBOT wheat down off peak; corn, soy also slide
Chicago | Reuters — U.S. wheat futures fell from multi-year highs on Wednesday and corn and soybeans eased in a profit-taking and liquidation sell-off ahead of the U.S. Thanksgiving holiday. A firmer U.S. dollar added pressure, but losses in corn and soy were tempered by signs of improved export demand. Markets will be closed on […] Read more
U.S. grains: Wheat rallies to nine-year peaks on supply worries
Corn extends gains, soybeans ease ahead of holiday
Chicago | Reuters — U.S. winter wheat futures rose to nine-year highs on Tuesday as declining weekly U.S. crop condition ratings stoked supply concerns and sparked fresh buying that more than offset earlier profit-taking pressure. Corn extended prior-session gains in light trading, while soybeans eased as traders squared positions ahead of this week’s U.S. Thanksgiving […] Read more
U.S. grains: Wheat soars to nine-year peak on supply concerns, strong demand
Chicago | Reuters — U.S. wheat futures rallied to their highest in nearly nine years on Monday as ill-timed rains in Australia and rising Russian wheat prices stoked concerns about tightening supplies among the world’s top exporters. Corn and soybeans followed wheat higher, with additional support from a waning U.S. harvest and strong domestic demand […] Read more
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