CNS Canada — Soybean and corn futures at the Chicago Board of Trade have kept rangebound this week with little excitement. During the week ended Wednesday the December corn contract rose slightly, by 2.5 cents, to $3.51 per bushel (all figures US$). The dominant November contract for soybeans fell 3.25 cents, to $9.9675 per bushel. […] Read more
CBOT weekly outlook: Corn, soy futures maintain status quo
CBOT weekly outlook: Corn, soy steady as attention turns to South America
CNS Canada — Soybean and corn futures at the Chicago Board of Trade are both keeping rangebound as attention shifts from last week’s U.S. Department of Agriculture supply/demand report to South American growing conditions. During the week ended Wednesday the December corn contract rose 2.5 cents, to $3.485 per bushel (all figures US$). On the […] Read more
CBOT weekly outlook: Sideways soy, corn still await spark
CNS Canada — Soybean and corn futures at the Chicago Board of Trade are both stuck in sideways trading ranges, looking for a catalyst to break one way or the other. The U.S. Department of Agriculture releases its latest supply/demand report on Thursday, with the updated production estimates possibly providing that spark. “If something’s going […] Read more
Manitoba corn harvest off and running
CNS Canada –– Manitoba’s corn harvest is just getting underway as many producers hold off combining to provide extra drydown time. More farmers will likely get into their grain corn this week and next, said Pam de Rocquigny, general manager of Manitoba Corn Growers. “The weather looks great so hopefully corn continues to dry down.” […] Read more
CBOT weekly outlook: Corn dips under $3.50 as harvest pushes on
CNS Canada — The corn market dropped below a major support level during the week ended Wednesday and could be poised to hit further market lows, according to one analyst. “I think we’re within a dime or something of it,” said Jack Scoville of Price Futures Group in Chicago. The December contract fell 5.75 cents […] Read more
ADM, Cargill still pursue Syngenta over corn rejections
Chicago | Reuters — Syngenta moved closer to putting a troubled biotech corn seed launch behind it with a US$1.5 billion settlement with farmers this week, but grain traders who filed two remaining lawsuits may be less ready to compromise, legal experts said. The company was sued three years ago by the farmers and traders […] Read more
CBOT weekly outlook: Harvest pressure to weigh on soy, corn
CNS Canada — U.S. harvest operations are just getting started, which should keep soybean and corn futures at the Chicago Board of Trade under pressure over the next few weeks. Both commodities are expected to “grind a little lower” over the next few weeks, according to Terry Reilly of Futures International in Chicago. The U.S. […] Read more
Syngenta agrees to settle GMO corn litigation
Reuters — Syngenta has agreed to pay close to US$1.5 billion to resolve lawsuits stemming from its decision to commercialize a genetically modified strain of corn before China approved importing it, a person familiar with the matter said on Tuesday. The Swiss company confirmed that it has reached a settlement, without confirming the financial terms. […] Read more
CBOT weekly outlook: Corn, soy look for export demand
CNS Canada — The ongoing U.S. harvest is keeping a lid on rallies in both the corn and soybean markets. Corn futures on the Chicago Board of Trade chopped above and below the psychologically-important US$3.50 per bushel mark during the week ended Wednesday. Soybeans felt some pressure from fund selling and generally seemed to be […] Read more
CBOT weekly outlook: Strong demand to underpin soy, corn
CNS Canada — Soybean and corn futures at the Chicago Board of Trade will soon face seasonal harvest pressure, but good demand may limit the downside this year. Slight upward revisions to the U.S. Department of Agriculture’s yield estimates in the latest supply/demand report weighed on soybeans and corn on Tuesday, but the soybean losses […] Read more