MarketsFarm — Farmers are well into seeding their crops for 2022, according to Wednesday’s crop report from Ontario’s Ministry of Agriculture, Food and Rural Affairs (OMAFRA). The report noted planting of corn, soybeans and spring cereals started late last week — the exception being where there are heavier soils. OMAFRA projected planting could be 80 […] Read more
Spring planting well underway in Ontario
U.S. grains: Wheats up on ‘indisputably bullish’ cuts to harvest estimates
MGEX July wheat limit up, K.C. July wheat hits contract high
Chicago | Reuters — U.S. wheat futures set contract highs on Thursday as the U.S. Department of Agriculture (USDA) slashed its production forecast for the variety that is grown in the U.S. Plains and used to make bread. USDA, in a monthly crop report, projected hard red winter wheat output at 590 million bushels, down […] Read more
U.S. grains: Supply worries, weather spur rallies
Market awaits USDA world crop report; rains delay U.S. spring wheat plantings
Chicago | Reuters — Chicago Board of Trade grain and soybean futures jumped on Wednesday, as traders uneasy about world supplies adjusted positions a day before the release of U.S. crop data. Concerns about poor global crop weather helped support gains, with MGEX spring wheat futures setting contract highs as rains prevent plantings in the […] Read more
Prairie cash wheat: Weather, loonie raise wheat bids
MarketsFarm — Adverse weather on both ends of the U.S. Plains as well as a weaker Canadian dollar were both supportive factors for western Canadian wheat bids for the week ended Thursday. For the second straight weekend, a Colorado low system hit the northern Plains as well as the eastern Prairie provinces on Sunday and […] Read more
U.S. grains: Wheat futures fall after rains
Chicago soybeans, corn flat
Chicago | Reuters — U.S. wheat futures fell to three-week lows on Friday, led by hard red winter wheat contracts after showers in key growing parts of the U.S. Plains provided a much needed boost to soil moisture, traders said. Corn futures ended unchanged after spiking to their highest in nearly 10 years for the […] Read more
U.S. grains: Soyoil futures rally to record high
Corn hits highest since August 2012
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: 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
Prairie cash wheat: Red spring falls back, durum rises
U.S. wheat futures down on week
MarketsFarm — Wheat prices on the Prairies during the week ended Thursday incurred moderate losses in Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) while durum (CWAD) pushed upward. Declines in the U.S. wheat complex led the way, with a higher Canadian dollar this week adding more pressure on Prairie wheat prices. […] Read more
Not warm enough yet for accurate read on Ontario winter crops
MarketsFarm –– The crop report on Wednesday from Ontario’s ministry of agriculture, food and rural affairs (OMAFRA) notes a lack of temperatures warm enough to accurately assess winter crops and/or to begin spring planting. OMAFRA determined winter wheat that was seeded on time looks healthier than what was planted later in the fall. Also, water […] 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
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