CNS Canada — Corn and soybean markets at the Chicago Board of Trade moved to fresh highs on the week, gaining alongside mounting weather concerns, but one U.S. analyst says the rally could be limited. Soybeans — “It’s just completely insane, but we’ll see what the (U.S. Department of Agriculture) has to say,” said Sean […] Read more
CBOT weekly outlook: Corn, soy likely to decline in wake of USDA reports
Market analysts watch for surging soybeans to peak
CNS Canada — As soybeans climb the charts and help float other commodities such as canola, one market watcher says the prime selling opportunity for farmers could pass soon, as bearish factors come into play. The president of Calgary-based ProMarket Communications, Errol Anderson, said large funds are the main force that has lifted Chicago soybeans […] Read more
CBOT weekly outlook: Surprise demand propping up prices
CNS Canada — Unexpected demand for corn and soybeans is supporting markets in Chicago, according to one U.S. trader, a trend he expects to continue. Soybeans — “It’s just not over yet,” said Sean Lusk, director of commercial hedging with Walsh Trading in Chicago. Chicago Board of Trade (CBOT) soybeans rallied in late April after […] Read more
CBOT weekly outlook: Turbulence expected for soybeans
CNS Canada –– Chicago Board of Trade soybeans are expected to face volatility in the week ahead, but also have upside potential, while corn should extend its rally, one U.S. analyst says. Soybeans Soybeans have the opportunity to trade above $11 per bushel in the July contract, depending on the movement of soymeal, said Terry […] Read more
CBOT weekly outlook: Soybeans surge with USDA report
CNS Canada — Corn and soybean contracts on the Chicago Board of Trade both posted gains during the week ended Wednesday, and further advances are likely, according to an analyst. Agricultural markets were sent into a flurry of activity Tuesday when the U.S. Department of Agriculture released a report that slashed the outlook for both […] Read more
CBOT weekly outlook: Soy, corn consolidating
CNS Canada –– Soybean futures at the Chicago Board of Trade appear to be running out of room to the upside, and are now consolidating after posting sharp gains through March and April. “A lot of positive news has now been discounted,” said Rich Feltes, vice-president of research at RJ O’Brien in Chicago, noting export […] Read more
CBOT weekly outlook: Corn, soy set for profit-taking pressure
CNS Canada — Soybeans and corn at the Chicago Board of Trade have seen weather-related support from traders in previous sessions, but one U.S. analyst expects prices to move lower with profit-taking. Soybeans — “We’re finally getting some weather stories here,” said John Weyer, director of Walsh Trading’s commercial hedging division. Heavy rainfall and flooding […] Read more
CBOT weekly outlook: Corn, soy expected to correct lower
CNS Canada — Corn and soybean futures at the Chicago Board of Trade are both likely to correct lower after sharp gains on the week, according to one U.S. analyst. Corn prices are slightly overdone, and will likely decline in coming sessions, said Terry Reilly of Futures International. Reilly said he expects prices to correct […] Read more
CBOT weekly outlook: Soy, corn may be nearing highs
CNS Canada — Soybean and corn futures at the Chicago Board of Trade moved higher during the week ended Wednesday, with soybeans leading to the upside on the back of fund buying. The May soybean contract moved above $9.53 Wednesday, which marks the midpoint between the highs and lows of the past year (all figures […] Read more
CBOT weekly outlook: Soybeans moving lower, corn up
CNS Canada — Soybeans and corn at the Chicago Board of Trade are both stuck in a trading range, one U.S. analyst says. Neither market is expected to see any dramatic swings on the week, but soybeans have downside potential, while corn could advance. Soybeans were able to break through a 200-day moving average, but […] Read more
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