CNS Canada — Corn and soybean markets appear to be holding firm above major support levels as harvest approaches for much of the U.S. Futures have actually risen in recent days as large funds cover shorts ahead of next week’s supply and demand report, due out Tuesday next week from the U.S. Department of Agriculture. […] Read more
CBOT weekly outlook; Corn, soybeans holding above support
CBOT weekly outlook: Corn, soy rally as focus moves to new crop
CNS Canada — Traders in corn and soybean futures might well have been hoping for a repeat of history at the start of Thursday’s trading session. On Aug. 31 last year, corn prices scraped bottom and then rallied, moving from harvest lows. If they were hoping, they got it. A similar rally dominated Chicago Board […] Read more
CBOT weekly outlook: Corn, soybeans eye Tropical Storm Harvey
CNS Canada — The potential for a storm in the Gulf of Mexico to bring rain to parts of the U.S. Midwest has caught the attention of the grain and oilseed markets. “If it turns farther north and hits some of the dry spots in Indiana, Ohio and Illinois that would be a little bit […] Read more
U.S. seeks WTO dispute panel on China’s grain import quotas
Geneva | Reuters — The United States has requested a World Trade Organization panel be set up to investigate Chinese tariff-rate quotas (TRQ) for agricultural products, the WTO said on Monday, setting up a showdown between the two largest economies. The row, which includes tariffs for wheat, rice, and corn, was initiated under the Obama […] Read more
CBOT weekly outlook: Corn, soy struggle under heavy supplies
CNS Canada — Corn and soybean traders continue to assess the fallout from last week’s world supply and demand report from the U.S. Department of Agriculture. The monthly report stunned analysts with predictions for U.S. corn yields at 169.5 bushels per acre, and soybean yields of 49.4 bu./ac. “That just destroyed the market,” said Scott […] Read more
Hot, dry American summer unlikely to dent USDA’s corn harvest view
Chicago/Reuters – The full impact of a hot and dry summer in the U.S. Midwest is unlikely to show up in the government’s next estimate of the U.S. corn crop as it typically makes just small adjustments to its harvest outlook during August. The U.S. Agriculture Department will update its yield projection in its monthly […] Read more
Soybean, corn market futures await USDA data
CNS Canada – Improving Midwestern weather forecasts weighed on soybean and corn futures at the Chicago Board of Trade during the week ended August 2, with all eyes now turning to upcoming USDA data. The USDA is set to release a number of key reports on August 10, including updated world supply/demand numbers and US […] Read more
Court decision may boost biofuels, hit refiners
New York / Reuters – The U.S. government may have to require more biofuels to be blended into the country’s fuel supply after a court ruled on Friday that the mandates must be reconsidered, a decision that boosted renewable fuel credits to seven-month highs on financial markets. The decision sank stock prices of independent refiners […] Read more
CBOT weekly outlook: Corn, soy seen rising
CNS Canada — Corn and soybean futures at the Chicago Board of Trade are moving in turbulent trade with each U.S. weather forecast. “It’s all on raindrops right now,” said Scott Capinegro of Barrington Commodity Brokers. Recent forecasts for rain have pressured corn and soybean markets, though declining crop conditions could provide support moving forward. […] Read more
China approves two more GMO crops for import
Beijing | Reuters — China has approved two more genetically modified (GMO) crops for import, the Ministry of Agriculture said, the second such move in the past month to expand access to biotech seeds as part of Beijing’s 100-day trade talks with Washington. The two new crops, approved from July 16 for a period of […] Read more