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
CBOT weekly outlook: Trade awaits solid details on ‘Phase One’
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
KFC tests plant-based ‘fried chicken’ in Ontario
Fast-food chicken chain KFC is collecting feedback from a one-day, one-store test of a new Canadian-made plant-based “fried chicken” product for the Canadian market. The Canadian arm of the Yum Brands-owned chain set up a “limited” test run for what it calls KFC Plant-Based Fried Chicken at its 6055 Creditview Rd. store in Mississauga, Ont. […] Read more
CBOT weekly outlook: Soy, corn stuck waiting on trade news
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade remain in a holding pattern, waiting for concrete news on ongoing negotiations between the United States and China. Activity during the last week of November was slowing down as traders moved to the sidelines ahead of the U.S. Thanksgiving holiday, with attention expected […] Read more
U.S. books latest end to soy harvest in a decade
MarketsFarm —The U.S. Department of Agriculture (USDA), in its oilseed crops outlook issued Wednesday, said the country’s 2019 soybean harvest will wind up the latest in 10 years. As of Sunday, the overall U.S. soybean harvest stood at 85 per cent complete, according to USDA’s weekly crop progress report. The pace was two points behind […] Read more
CBOT weekly outlook: Trade uncertainty weighs
MarketsFarm — Lack of demand for corn exports has continued to drag prices on the Chicago Board of Trade (CBOT) and the U.S. dollar has been stronger recently, making exports even less attractive, according to Terry Reilly, a grains analyst with Futures International. In contrast, consistent soybean sales since Monday have provided some support to […] Read more
U.S. corn exports falter, soybean business could meet same fate
Fort Collins | Reuters – It is no secret that overseas demand for U.S. corn has been downright terrible as of late, and relief does not seem likely in the immediate term as purchase commitments remain dismal. Forward sales for U.S. soybeans are nothing to brag about either, but soy exporters have enjoyed more success recently than […] Read more
Brazil farmers push traders to end Amazon soy moratorium
Sao Paulo | Reuters – Brazilian farmers plan to start a campaign next week to end a ban by trading firms on buying soybeans from parts of the Amazon rainforest cleared after 2008, leaders from a major farmer group told Reuters, citing support from President Jair Bolsonaro. The push to end traders’ voluntary “soy moratorium” — one […] Read more
Beijing’s refusal to order U.S. farm buys becomes pain point
Washington/Beijing/Reuters – U.S. President Donald Trump’s demand that Beijing commit to big purchases of American farm products has become a major sticking point in talks to end the Sino-U.S. trade war, according to several people briefed on the negotiations. Trump has said publicly that China could buy as much as $50 billion of U.S. farm […] Read more
CBOT weekly outlook: Harvest activity drops commodities
MarketsFarm — Commodities on the Chicago Board of Trade were mostly lower Wednesday amid a slower news week and harvest activity putting pressure on prices. “We’ve had a quieter week,” said Steve Georgy of Allendale Inc. at McHenry, Ill. “The market starts to fall of its own weight as we’re in harvest season.” Harvest activity, […] Read more
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