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
CBOT weekly outlook: Harvest activity drops commodities
CBOT weekly outlook: Corn, soy prices to continue climbing
MarketsFarm — Prices on the Chicago Board of Trade will probably continue to climb, especially for corn and soybeans, according to Scott Capinegro of Barrington Commodities. “The basis remains strong and when the basis is strong, as far as I am concerned, that means the futures should be strong,” he said. Although CBOT bids have […] Read more
Most oilseed estimates down in USDA’s October outlook
MarketsFarm — The U.S. Department of Agriculture (USDA) released its monthly oil crops outlook on Tuesday featuring reductions in global rapeseed and sunflower production and U.S. soybeans. USDA estimated global rapeseed production at 68.6 million tonnes, a decline of one million, with the lion’s share of the losses in Canada. Canadian production for 2019-20 was […] Read more
CBOT weekly outlook: Corn, soybeans retreat off highs
MarketsFarm — Soybean and corn prices on the Chicago Board of Trade have backed off of highs hit earlier in the week. That’s due mainly to harvest activity putting pressure on prices, according to Steve Georgy, president of Allendale Inc. at McHenry, Illinois. Corn crops across the U.S. are currently only 11 per cent harvested, […] Read more
CBOT weekly outlook: U.S. dollar, weather hurt prices
MarketsFarm — Growing strength in the U.S. dollar has hurt commodity prices on the Chicago Board of Trade (CBOT), according to Terry Reilly, grains analyst for Futures International in Chicago. The impetus for the gain was comments from U.S. President Donald Trump, who remarked a trade deal with China could come sooner rather than later. […] Read more
Soybean cyst nematode confirmed in Manitoba
A damaging soybean pest that was expected to show up sooner or later in agricultural Manitoba has officially arrived. Crop surveys by University of Manitoba Ph.D. student Nazanin Ghavami with soil science professor Mario Tenuta and his students have turned up soybean cyst nematode at “extremely low” levels on soybean plant roots in one field […] Read more
China to exempt U.S. pork, soybeans from additional tariffs
Shanghai | Reuters — China will exempt some agricultural products from additional tariffs on U.S. goods, including pork and soybeans, China’s official Xinhua News Agency said Friday, in the latest sign of easing Sino-U.S. tensions before a new round of talks aimed at curbing a bruising trade war. The United States and China have both […] Read more
StatsCan forecasts near-record corn crop
MarketsFarm — Canada’s corn crop is forecast to be the second largest on record despite a delayed start to spring planting, as yields showed an improvement from earlier forecasts, according to updated production estimates Thursday from Statistics Canada. Using a combination of satellite imagery, previous survey data, and agro-climatic data, the latest Statistics Canada report […] Read more
CBOT weekly outlook: Late U.S. crop should slow corn price declines
MarketsFarm — Chicago Board of Trade corn futures fell to fresh contract lows during the week ended Wednesday, but could be running out of room to the downside amid concerns over the lateness of this year’s U.S. crop. “The weather is benign and the government is telling us there’s really no problem with the crop,” […] Read more
Short position steady in canola, growing in corn
MarketsFarm — Fund traders were content to sit on their large net short position in canola during the week ended Aug. 27, 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 at 62,104 on Aug. […] Read more
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