MarketsFarm — In the latest supply and demand report from U.S. Department of Agriculture (USDA), the global wheat forecast was revised downward due to difficult weather conditions. USDA has now projected 765.53 million tonnes of wheat to be produced in 2019-20, according to the department’s world agriculture supply and demand estimates (WASDE), released Thursday. That’s […] Read more
Global wheat production to decrease, USDA says
U.S. grains: Soybeans extend gains on big Chinese purchase
Chicago | Reuters –– U.S. soybean futures hit a six-week high on Friday as China’s first large purchase of U.S. beans in months and easing of some duties on U.S. exports fuelled hopes of a detente in the tariff war between Washington and Beijing. Corn also firmed as signs of a U.S.-China trade thaw sparked […] Read more
U.S. grains: Fresh sales to China fuel soy optimism
Chicago | Reuters — U.S. soybean futures jumped to a one-month high on Thursday on news of fresh export sales to China and signs of a possible easing of the U.S. trade dispute with the world’s biggest buyer of the oilseed. Corn and wheat futures also rose, following soybeans. Meanwhile, the U.S. Department of Agriculture […] Read more
U.S. grains: Soybeans, corn ease on crop-boosting weather
Chicago | Reuters — U.S. soybean futures retreated on Wednesday ahead of an eagerly awaited U.S. government crop report, pressured by forecasts for favourable Midwest crop weather and disappointment that China did not include the oilseed on a list of U.S. imports exempted from tariffs. Corn also weakened as late-planted U.S. crops were seen benefiting […] Read more
U.S. grains: Crop condition rating lifts corn
Chicago | Reuters — U.S. corn futures rebounded on Tuesday from four-month lows struck in the previous session after the U.S. Department of Agriculture said the U.S. crop’s condition unexpectedly declined over the past week. Soybeans followed corn higher despite steady crop condition ratings, as worries about lower yields in the late-developing crop underpinned prices. […] Read more
U.S. grains: Corn, soy hit lows on weather, before technical bounce
Chicago | Reuters — U.S. corn futures fell to contract lows on Monday and soybeans slid to 3-1/2 month lows on crop-boosting weather and weak demand before short covering and technical buying helped both markets pare losses. Spillover support from rising wheat futures also gave corn and soy some underlying support ahead of eagerly awaited […] Read more
Prairie wheat bids edge lower
MarketsFarm — Wheat bids in Western Canada edged lower during the week ended Thursday, as seasonal harvest pressure and strength in the Canadian dollar weighed on values. The Canadian dollar was up by roughly a third of a cent relative to its U.S. counterpart on the week. Minneapolis spring wheat futures held steady, but Kansas […] Read more
U.S. grains: Corn hits contract lows on sluggish exports, mild weather
Chicago | Reuters — U.S. corn futures fell to life-of-contract lows on Friday, pressured by disappointing weekly U.S. export data and forecasts for benign weather in the heart of the Midwest crop belt, analysts said. Soybeans turned down, retreating from early advances, and wheat followed the lower trend. Chicago Board of Trade December corn settled […] Read more
The news is not good — but it will get better, say market analysts
Harvest is one of the worst times to look for good news in wheat markets, but prices should soon rally
Reading Time: 3 minutes It’s not hard to find bad news these days when it comes to wheat markets. Recent news stories include the USDA surprising analysts by raising its production forecast (by 59 million bushels), European wheat fields coming through a record-breaking heat wave in fine shape, and the threat from Black Sea producers continuing to rise. (For […] Read more
U.S. grains: Soybeans sag on demand worries
Chicago | Reuters — U.S. soybean futures fell more than one per cent on Thursday on concerns about burdensome supplies and weak export demand as the U.S. trade war with China continues, analysts said. Wheat futures rose on short-covering and worries about drought in Australia, and corn edged higher, despite bearish weekly U.S. ethanol statistics. […] Read more
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