CNS Canada — A larger than expected carryout of U.S. corn supplies has cast a bearish tint over the market. In the U.S. Department of Agriculture’s monthly supply and demand report, the agency pegged domestic corn stockpiles for 2017-18 at 2.325 billion bushels, which exceeded the June projection of 2.11 billion. Futures quickly plunged lower, […] Read more
CBOT weekly outlook: December corn looks pricey above $4 mark
Dow to sell part of Brazil corn seed business
Reuters — Dow Chemical said it had agreed to sell a portion of its corn seed business in Brazil to a unit of China’s CITIC Ltd. for US$1.1 billion as it seeks to gain approval for its merger with DuPont from the country’s antitrust regulator. The divestiture includes seed processing plants and seed research centers, […] Read more
CBOT weekly outlook: Soy, corn enter summer weather market
CNS Canada — Soybean and corn futures posted solid gains over the past week, and may have more room to the upside as the U.S. Midwest enters the heat of summer. “It’s still early July, and we have the bulk of the important growing weather ahead of us,” said Rich Feltes, of RJ O’Brien in […] Read more
U.S. farmers running out of opportunities to sell corn at profit
Washington | Reuters — U.S. farmers who have been holding out for higher prices for their corn may finally sell their grain below target levels in the next few weeks as a government report released Friday underscores the huge supplies left in storage bins around the country, analysts said. The U.S. Agriculture Department said that […] Read more
CBOT weekly outlook: Corn, soy move with trader positioning
CNS Canada –– Corn and soybean futures at the Chicago Board of Trade are moving in trader-positioning with technical features and ahead of key data. Investors in CBOT corn and soybean markets are rolling out of positions in the July contract into more deferred months. “With that said, we’re seeing a lot of shorts shore-up […] Read more
Syngenta ordered to pay Kansas farmers in GM corn case
Reuters — A U.S. jury on Friday ordered Syngenta to pay US$217.7 million to more than 7,000 Kansas farmers over its decision to commercialize a genetically modified strain of corn before China approved importing it. The verdict by a federal jury in Kansas City, Kansas, was announced by lawyers for the farmers, who blamed the […] Read more
CBOT weekly outlook: Corn, soy set for major move on acres
CNS Canada — Corn futures on the Chicago Board of Trade could be set for a major move depending on what the U.S. Department of Agriculture reveals in next week’s acreage estimates, according to an analyst. “We’ll find out, did we really plant the 90 million (acres) or are we under?” said Scott Capinegro, president […] Read more
U.S. grain handler Lansing buys Interstate
Chicago | Reuters — Grain handler Lansing Trade Group LLC is buying Interstate Commodities, marking another step in consolidation that is rippling through the U.S. agriculture sector as persistently low prices keep pressure on profits. The combined companies could handle as much as seven per cent of the U.S. corn supply of over 15 billion […] Read more
CBOT weekly outlook: Weather watching trade in summertime
CNS Canada –– Corn and soybean futures at the Chicago Board of Trade are hanging in a seasonal weather-based market, with traders watching crop conditions week-to-week. Corn futures have downside potential, gathering influence from wheat futures and crop ratings in the near term. “I’m looking for an improvement in crop ratings next week, which might […] Read more
Dow’s Enlist corn cleared for Canada
Corn growers in Canada can begin ordering Dow AgroSciences’ genetically modified Enlist corn later this summer, now that China will allow imports of grain grown from corn with the Enlist trait. Dow Agro announced Wednesday the glyphosate- and 2,4-D-tolerant corn will be commercially available in Canada and the U.S. for use in the 2018 growing […] Read more