MarketsFarm — Rising feed barley prices in Western Canada may be nearing their upper limit, as end users look to add more cheaper corn to their rations. “The higher that barley and wheat get, the more attractive corn gets,” said Mike Fleischhauer of Eagle Commodities in Lethbridge. “If barley and wheat go any higher, we’ll […] Read more
Feed weekly outlook: Cheaper corn to temper rising barley bids
Lack of farmer selling a factor in bids
CBOT weekly outlook: Crop commodities rangebound
MarketsFarm — Favourable growing conditions across most of the U.S. — and a good start to the growing season — have kept commodity prices on the Chicago Board of Trade locked in a sideways range. In the crop progress report released Tuesday from the U.S. Department of Agriculture (USDA), the U.S. corn crop was approximately […] Read more
CBOT weekly outlook: Ag commodities steady
Slack demand for biofuel has dragged on corn
MarketsFarm — Crop commodity values on the Chicago Board of Trade (CBOT) have largely stabilized as COVID-19 restrictions are relaxed in several U.S. states. “We’ve been playing this virus for a few months now,” said Scott Capinegro of Barrington Commodities in Barrington, Ill. COVID-19-related lockdown measures decimated demand for ethanol, which put considerable pressure on […] Read more
CBOT weekly outlook: Corn could move below $3, analyst says
MarketsFarm — Corn futures at the Chicago Board of Trade have lost considerable ground over the past few months, but could move lower still if a weather premium fails to develop over the summer, according to an analyst. The most active July corn contract has lost 20 per cent of its value since the beginning […] Read more
CBOT weekly outlook: Crude volatility holds down corn, soy
MarketsFarm — Hit by an unprecedented crash in North American crude oil prices, particularly this week, corn and soybeans have struggled at the Chicago Board of Trade, according to Terry Reilly of Futures International. As the May contract for West Texas Intermediate (WTI) wrapped up earlier this week, it crashed so badly its price turned […] Read more
COVID-19 spurs new clash between Big Oil, Big Corn
Flagging consumption leads to pressures on U.S. fuels, biofuels
New York | Reuters — A fuel demand meltdown caused by the coronavirus outbreak in the United States has started up a new fight between the oil and agriculture industries over the nation’s biofuel policy, this time over whether the policy should be suspended or expanded as a result of the crisis. The issue once […] Read more
Feed weekly outlook: Prices steady, demand quiet
MarketsFarm — Demand for feed grains has slowed down on the Prairies due to uncertainty in cattle markets posed by the COVID-19 pandemic. Many cattle processing and packing plants across North America have closed or slowed production due to lack of staff, leading to widespread issues in feed grain supply chains. “The lack of forward […] Read more
CBOT weekly outlook: Corn values stabilize
MarketsFarm — The April world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture didn’t hold much sway over corn on the Chicago Board of Trade (CBOT) on Thursday. Corn ending stocks for the U.S. were pegged at 53.15 million tonnes, about five million tonnes higher than the previous month’s report. However, […] Read more
Feed weekly outlook: Barley, wheat remain firm
Feed corn values follow U.S. ethanol lower
MarketsFarm — Prices for feed barley and wheat have firmed up across the Prairies amid the COVID-19 pandemic, said trader Allen Pirness of Market Place Commodities in Lethbridge. However, he also noted corn prices have fallen due to the steep decline in the U.S. ethanol industry. The Saudi Arabia/Russia crude oil price war put enormous […] Read more
U.S. ethanol industry ‘bleeding’ on oil collapse, coronavirus
New York | Reuters — U.S. ethanol producers are feeling the pain as margins on the corn-based fuel slumped this week to an eight-year low for this time of year, weighed by concerns over lower fuel demand from the coronavirus and the recent collapse in oil prices. The coronavirus outbreak, which has infected more than […] Read more
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