Chicago | Reuters — U.S. soybean futures fell for an eighth consecutive session on Thursday and hit an eight-month low as the rising toll from the coronavirus outbreak in China added to concerns about Chinese demand for American crops. Wheat also eased and set a three-week low on the Chicago Board of Trade as the […] Read more
U.S. grains: Soybeans set eight-month low
IGC calls for more wheat despite lowering global forecast
MarketsFarm — At close to 1.03 billion tonnes, there’s going to be more wheat in the world in 2019-20 than in the previous marketing year, according to the latest outlook from the International Grains Council (IGC). The London-based organization released its report on Jan. 23, in which it revised its previous forecast — but with […] Read more
CBOT weekly outlook: Soybeans oversold
MarketsFarm — Sharp losses in Chicago Board of Trade soybeans over the past month are looking overdone, according to an analyst who expects the lows may be in for the time being. March soybeans lost roughly 60 U.S. cents per bushel since the beginning of January, with the latest concerns over the coronavirus in China […] Read more
U.S. grains: Wheat, corn, soybeans drop
Chicago | Reuters — U.S. wheat futures fell 1.4 per cent on Wednesday on a round of follow-through selling after Tuesday’s technical setback, traders said. The weakness in wheat spilled over to the corn market, which also faced some profit-taking after a higher opening during the overnight trading session. Soybean futures fell for the seventh […] Read more
U.S. grains: Soy, wheat extend losing streaks
Chicago | Reuters — U.S. soybean futures fell on Tuesday for the sixth day in a row, with investors waiting for signs of the pickup in Chinese demand promised when Washington and Beijing signed the Phase One trade deal on Jan. 15, traders said. Wheat futures also drifted lower, their third straight day of losses, […] Read more
U.S. grains: Corn, soy, wheat fall on coronavirus fears
Chicago | Reuters — U.S. corn, soybean and wheat futures fell on Monday, with investors shedding risky assets amid fears the coronavirus outbreak in China could dent the global economy, traders said. “The same thing happened with the SARS outbreak, which ended up costing the global economy $40 billion in 2002-03,” Craig Turner, senior commodities […] Read more
Prairie cash wheat: Bids generally higher
MarketsFarm — Wheat bids in Western Canada for the week ended Thursday were up for CWRS and CPSR, while durum (CWAD) bids were mostly higher. The Canadian dollar was down by more than a half cent during the week. Average CWRS (Canada Western Red Spring, 13.5 per cent protein) wheat prices ranged from up $3-$5 […] Read more
U.S. grains: Soybeans hit six-week low as China virus sparks selling
Chicago | Reuters — U.S. soybean futures sank to their lowest level in more than six weeks on Friday as fears over the coronavirus spreading from China triggered broad-based selling. Corn and wheat futures also weakened as the U.S. Centers for Disease Control and Prevention confirmed a second U.S. case of the new virus in […] Read more
AAFC forecasts more wheat, less canola seeded in spring
MarketsFarm — Canada’s farmers will seed more wheat and less canola in the 2020 growing season, according to the first supply/demand estimates for the 2020-21 marketing year, released Thursday by Agriculture and Agri-Food Canada. Total seeded wheat area is forecast to rise to 25.77 million acres, from 25.02 million the previous year. Production is forecast […] Read more
U.S. grains: Corn futures hit three-month high on export demand
Profit-taking sparks pullback in CBOT wheat
Chicago | Reuters — U.S. corn futures topped a three-month high on Thursday on improved export demand, while wheat futures traded near a 1-1/2 year high reached a session earlier. Soybeans eased to a one-month low as traders awaited signs of Chinese purchases of U.S. crops in the wake of last week’s initial trade agreement […] Read more