Chicago | Reuters — Chicago wheat futures touched a three-month high on Friday, buoyed by rising cash prices and signs of tightening global supplies, analysts said. Soybean futures rose on worries about the size of the U.S. harvest while corn fell on disappointing weekly U.S. export sales. At the Chicago Board of Trade, December soft […] Read more
U.S. grains: Wheat hits three-month high on signs of tightening supplies
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
South America fires could disrupt its farm belt’s rainfall
Santa Cruz | Reuters — Forest fires that swept across Bolivia and Brazil this year could disrupt rainfall distribution across South America’s grains-and-beef producing regions in unpredictable ways for years to come, a scientist and meteorologist said. Recent rains in both countries have helped put out the wildfires, which were likely started by farmers and […] Read more
Ample world malt barley supply to limit export prices
MarketsFarm — Canadian malt barley growers may be dealing with adverse harvest conditions that could lead to quality downgrades in some areas — while world supplies of the key beer ingredient remain more than sufficient to meet global demand. “There’s no real indication at this time that we’ll see a significant up move (in price),” […] Read more
U.S. grains: Crop condition rating lifts corn
Chicago | Reuters — U.S. corn futures rebounded on Tuesday from four-month lows struck in the previous session after the U.S. Department of Agriculture said the U.S. crop’s condition unexpectedly declined over the past week. Soybeans followed corn higher despite steady crop condition ratings, as worries about lower yields in the late-developing crop underpinned prices. […] Read more
CBOT weekly outlook: Bear market aches for bull news
MarketsFarm –– The Chicago Board of Trade (CBOT) is currently a bear-market, according to broker Scott Capinegro of Barrington Commodity Brokers. “It’s like the markets are saying ‘Show me something, we’ll take anything,’ but the bears are winning,” he said, noting there has been almost no news to drive the market in a bullish manner. […] Read more
U.S. grains: Corn, wheat firm in late rally, end week lower
Chicago | Reuters — U.S. corn and wheat futures edged higher on Friday, lifted by a late round of short-covering and worries about planting delays following a blizzard this week, traders said. Soybean futures closed flat in dull trade. Chicago Board of Trade May corn settled up one cent at $3.61 per bushel, staying inside […] Read more
French rapeseed farmers destroy 18,000 hectares over GMO risk
Paris | Reuters — French farmers destroyed a total of 18,000 hectares of rapeseed, more than double the area initially expected, following the discovery of a non-authorized genetically modified organism (GMO) in seeds, German group Bayer said on Friday. Bayer had announced in February that farmers in France and Germany were turning over thousands of […] Read more
U.S. grains: U.S. exports get no Valentine’s Day love
Chicago | Reuters — Chicago Board of Trade (CBOT) grains and soybean futures tumbled on Thursday on news that China and other buyers had canceled a flurry of U.S. soybean orders in early January and Argentina’s soy crop could be larger than previously expected, traders said. The U.S. Department of Agriculture’s (USDA) export sales report […] Read more
French, German farmers destroy crops after GMOs found in Bayer seeds
Paris | Reuters — Bayer said on Wednesday that farmers in France and Germany were digging up thousands of hectares of rapeseed fields after traces of genetically modified organisms (GMOs) banned for cultivation were found in seeds sold by the company. GMO crops are widely grown across the world, but they remain controversial in Europe, […] Read more
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