New Delhi/Geneva / Reuters — India defied the world on Wednesday in a row over food stockpiling that has crippled attempts to reach a global trade agreement, raising doubts that backroom talks can reach a compromise before a Group of 20 summit this month. At the end of July, Prime Minister Narendra Modi pulled the […] Read more
India toughs it out in WTO food-stockpiling dispute
Put buyers bet CBOT wheat’s strength won’t last
Reuters — Chicago wheat prices may have rallied more than 10 per cent since October 1, but judging by a jump in bearish put option positions tied to the March delivery slot, they are likely to turn lower going into the New Year. More than 3,600 put options were bought at the $4.80, $4.90 and […] Read more
No frost but excess rain for Argentina wheat
Buenos Aires / Reuters — Argentina’s wheat plants were not hit by frost over the weekend as feared but strong rainfall since Saturday has generated excess humidity that could cause an outbreak of disease in the crop, a meteorologist said on Monday. Weather experts last week warned of the possibility of severe spring frosts in […] Read more
Canadian wheat lowest in Iraq tender — trade
Hamburg / Reuters — Canadian wheat was offered lowest at $323.40 a tonne c&f free out (ciffo) in the tender from Iraq’s state grains board to buy at least 50,000 tonnes of hard wheat, European traders said on Monday. The tender closed on Sunday and offers must remain valid up to Thursday, Nov. 6, traders […] Read more
CWRS bids up as basis strengthens
Commodity News Service Canada — Average cash bids for Canadian Western Red Spring (CWRS) wheat were stronger during the week, underpinned by improving basis levels in Western Canada and stronger Minneapolis wheat futures prices. CWRS prices were about $3.00 higher in central Alberta, up to $6.75 stronger in the Peace region compared to a week […] Read more
U.S. grains: soymeal makes biggest monthly gain since 1976
Chicago / Reuters – U.S. soymeal climbed 2 per cent on Friday, capping the commodity’s best monthly performance since 1976, as short-term supply strains in the United States continued to fuel buying. Soybeans also rose sharply and corn turned higher late, following gains in soymeal, while wheat declined on pressure from multiyear highs in the dollar that made the crops less competitive […] Read more
U.S. and S. American farmers slow to sell
Reuters — The slow pace of crop sales by farmers that has hurt two of the world’s biggest grain traders will likely stretch into next year, the head of Bunge Ltd said on Thursday. The forecast for sluggish sales from Chief Executive Officer Soren Schroder may mean that Bunge and agribusiness rivals, including Archer Daniels […] Read more
Winter wheat seeding ‘perfect’ in EU
Commodity News Service Canada — Winter wheat planting conditions have been “perfect” in many areas of the Europe Union this fall, Leo Plaisier, partner at Agribrokers International said during a presentation at the Cereals of North America conference in Winnipeg. He added that acreage in the European Union is expected to increase slightly from last […] Read more
U.S. grains: soybeans down 1 per cent, corn narrowly lower
Chicago / Reuters – U.S. soymeal futures fell 4 per cent on Thursday for their biggest daily losses since June as investors locked in profits after prices for the protein-rich animal feed soared to a seven-week high. Soybean futures shed more than 1 per cent, while corn edged lower following a spike in sales by U.S. farmers, who were harvesting […] Read more
Asia buyers face problems post-wheat board
Commodity News Service Canada — Before the 2012/13crop year, when the Canadian Wheat Board was stripped of its monopoly to market western Canadian wheat, some Asian companies purchased large amounts from Canada. But since the single desk has ended, there have been challenges with purchasing Canadian wheat, causing some companies to reduce the amount they […] Read more
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