MarketsFarm — From where Steve Georgy sits, commodity markets such as the Chicago Board of Trade (CBOT) are currently focused on only three things. One is the COVID-19 coronavirus — specifically, how the global outbreak affects commodity markets, especially if it results in “the slowing down the movement of grain, the slowing down the movement […] Read more
CBOT weekly outlook: Markets focused on virus, oil prices, stocks
CBOT weekly outlook: Soybeans, corn recover
More gains possible
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade moved off of nearby lows over the past week, with more upside a possibility, according to an analyst. “In general, with the recovery in energy prices and global markets, we’re seeing a little support come into the agricultural markets,” said Terry Reilly of […] Read more
CBOT weekly outlook: Commodities hold up while waiting on China
MarketsFarm — There’s no doubt commodities on the Chicago Board of Trade have struggled since the coronavirus outbreak in China, but the situation could be worse, a trader said. “I personally think the markets… are holding up pretty well with all of the negative news,” said Scott Capinegro of Barrington Commodities in Barrington, Ill. Some […] Read more
CBOT weekly outlook: Soy, corn wait for next big thing
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade have recovered off of nearby lows, but remain rangebound overall waiting for fresh news to push values one way or the other. The U.S. Department of Agriculture holds its Agriculture Outlook Forum on Feb. 20-21. USDA’s first acreage and supply/demand estimates for the […] Read more
CBOT weekly outlook: Corn, soybeans under pressure
MarketsFarm — Market participants on the Chicago Board of Trade (CBOT) are waiting to see how China’s novel coronavirus outbreak will impact commodity demand and the global economy. As of Wednesday, confirmed cases neared 25,000 and the death toll was close to 500. In the midst of dealing with the mounting public health crisis, China […] Read more
Zimbabwe says grain stocks running out after drought
Harare | Reuters — Zimbabwe has only 100,000 tonnes of grain in its strategic reserves, enough to last just over a month, as the southern African nation suffers the effects of a severe drought, according to the agriculture minister. More than half the country’s population faces food shortages after maize harvests halved last year. The […] Read more
CBOT weekly outlook: Corn set to rally
MarketsFarm — Corn futures on the Chicago Board of Trade may be due for a rally. The March corn contract hit $3.92 per bushel three times earlier in the month, facing stiff resistance to break higher (all figures US$). Prices established lows last week, around $3.7525. “I would like to see resistance be taken to […] Read more
CBOT weekly outlook: 2019 ends on high note
MarketsFarm — Despite a number of tough challenges in 2019, one broker at the Chicago Board of Trade said the year ended on a high note. “For what we went through with China this whole year, this trade war, you had corn, wheat and soybeans close higher for the year on Dec. 31,” said Scott […] Read more
CBOT weekly outlook: Trade awaits solid details on ‘Phase One’
MarketsFarm — While optimism towards the ‘Phase One’ trade deal between the U.S. and China has continued, its initial impact on the Chicago Board of Trade (CBOT) has diminished, according to one trader. “I think the biggest thing is everyone is on hold wondering, is it real? The actual terms of this [agreement] are still […] Read more
StatsCan shows corn, soy output down across board
Despite increases in Ontario’s harvested acres for both soybeans and corn, the province’s production of both crops in 2019 followed the rest of Canada’s lower in Statistics Canada’s latest estimates. StatsCan’s November estimates for production of principal field crops, released Friday, dropped Canada’s production of soybeans to six million tonnes, down 18.5 per cent from […] Read more
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