CNS Canada — Corn and soybean contracts at the Chicago Board of Trade are both rangebound, but beans are above the major moving averages, according to one analyst, as traders watch outside markets and weather for indications on where to move next. “I’m friendly, but I’m not looking for any explosions,” said Scott Capinegro, senior […] Read more
CBOT weekly outlook: Soybeans see higher-value trading range
Court to hear growers’ appeal of Ontario neonic rules
Ontario’s soybean and corn growers have been granted an appeal hearing in their bid to delay the province’s new limits on neonicotinoid seed treatments. Grain Farmers of Ontario (GFO), the body for the province’s corn, soy, wheat, barley and oat growers, said Tuesday the Ontario Court of Appeal has agreed to hear its case on March […] Read more
Brazil soy growers seek WTO complaint against U.S.
Sao Paulo | Reuters — Brazilian soybean growers have asked their country to file a complaint against the U.S. at the World Trade Organization, alleging U.S. farm subsidies give an unfair advantage to the world’s top soybean producer. Brasilia-based farm group Aprosoja says those subsidies might be costing Brazilian farmers $1 billion a year in […] Read more
CBOT weekly outlook: Weak soybeans, corn watch energy, USDA for direction
CNS Canada — Soybean and corn futures at the Chicago Board of Trade trended down over the past two weeks, testing some contract lows in the process. While the potential for a short-covering bounce is there, further losses are also a distinct possibility, depending on what happens in outside energy markets. “Unless we see an […] Read more
Argentine soy sales after tax cut disappoint government
Buenos Aires | Reuters — Argentina’s centre-right government said Monday it was disappointed by the volume of soy stocks sold by farmers in the three weeks since it reduced the tax on soybean exports. President Mauricio Macri cut the tax on shipments of soybeans, the country’s main cash crop, from 35 per cent to 30 […] Read more
Force majeure declared for CBOT soy shipping stations
Chicago | Reuters –– CME Group declared force majeure for all soybean shipping stations until further notice because of flooding on the Illinois River, a notice from the exchange operator said Monday. A majority of facilities on the river, which are delivery points for soybean futures traded on CME’s Chicago Board of Trade, are unable […] Read more
Devalued Argentine peso seen spurring grain exports
Buenos Aires | Reuters — The currency devaluation set to kick off in Argentina on Thursday is expected to pump millions of tonnes of pent-up grains supply into the international market at a time when the world is already seeing record stockpiles. For the first time since 2011, Argentines have full access to U.S. dollars […] Read more
CBOT weekly outlook: Corn, soy rangebound ahead of holidays
CNS Canada — Corn and soybeans at the Chicago Board of Trade are rangebound ahead of the holidays, according to one analyst. On Wednesday, the U.S. Federal Reserve raised interest rates by 0.25 per cent, the first increase since 2006, which pressured both corn and soybeans. But outside of that story, corn and soybean markets […] Read more
CBOT weekly outlook: Soy, corn hold in trading range
CNS Canada — Supply and demand estimates from the U.S. Department of Agriculture held few surprises and had only limited effects on Chicago Board of Trade corn and soybeans — both rangebound in the short term, according to one U.S.-based analyst. “That report was pretty non-eventful right now,” said Scott Capinegro of Barrington Commodity Brokers. […] Read more
For U.S. farmers, ugly soy bids look better all the time
Chicago | Reuters –– U.S. farmers booked soybean sales this week as prospects for burgeoning global supplies and weak export demand caused growers to accept deals they’d rejected at similar price levels just a few weeks ago. Grain dealers noted an uptick in grower interest as Chicago Board of Trade soybean futures rallied 3.8 per […] Read more
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