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: Commodities hold up while waiting on China
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
GFO quits Grain Growers of Canada
Grain Farmers of Ontario flags national group's 'governance' and structure
Grain Farmers of Ontario has dropped out of Grain Growers of Canada. The Ontario organization, which represents about 28,000 barley, corn, oat, soybean and wheat farmers in the province, cited a lack of representation in the national policy group. GFO publicly announced its withdrawal in a news release on Thursday, days after it informed 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
Corteva to accelerate Enlist E3 soybean rollout
Chicago | Reuters — U.S. seed and crop chemical maker Corteva said Thursday it will accelerate production of its next-generation biotech soybean seeds and complementary herbicides in Canada and the U.S. over the next five years. The move heightens the competition for sales to farmers with rivals Bayer and BASF. Up to 20 per cent […] Read more
CBOT weekly outlook: Soybeans oversold
MarketsFarm — Sharp losses in Chicago Board of Trade soybeans over the past month are looking overdone, according to an analyst who expects the lows may be in for the time being. March soybeans lost roughly 60 U.S. cents per bushel since the beginning of January, with the latest concerns over the coronavirus in China […] Read more
Large funds back on short side in soybeans
MarketsFarm — Large fund traders have moved back to the short side in soybeans while only making small adjustments in canola, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 20,366 contracts on […] 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
Argentine soybeans facing tax increases
MarketsFarm — Not many major divergences can be seen between the U.S. Department of Agriculture’s data (USDA) on Argentina’s soybean crop and data from the department’s attaché in Buenos Aires. What may bring changes to the country’s soybean industry are tax increases imposed by the new federal government, according to Benjamin Boroughs, the USDA attaché. […] Read more
Major grocers roll out plant-based burgers, undercut Beyond Meat
Chicago | Reuters — Cashing in on rising demand for imitation meat, major retailers including Kroger and Walmart recently began to carry Beyond Meat’s plant-based burgers and sausages. Now, several stores are creating similar products that will compete with Beyond Meat. Kroger Co., the biggest U.S. grocer, on Wednesday rolled out its own line of […] Read more
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