Ottawa | Reuters — The Canadian government plans to open free trade talks with the four-nation Mercosur trading bloc in South America, an official said on Friday, at a time when the future of NAFTA is facing increasing uncertainty. Canada sends around 75 per cent of its goods exports to the U.S. and is looking […] Read more
Canada to seek Mercosur trade pact amid NAFTA uncertainty
U.S. grains: Soy falls on profit-taking
Chicago | Reuters — U.S. soybean futures fell from their highest since late July on Friday as traders locked in profits from this week’s weather-driven rally. Soymeal futures were mixed, with the most active contract snapping an eight-session winning streak after rallying to its highest in more than a year and a half. Deferred soymeal […] Read more
U.S. grains: Soy, wheat rise on weather concerns
Chicago | Reuters — U.S. soybean futures rose on Thursday to their highest level since July 25 as an ongoing drought in key exporter Argentina underpinned prices. Soymeal futures, which hit a 19-month high, headed higher for the eighth straight session as fears have mounted that Argentina will struggle to meet its export commitments for […] Read more
ICE weekly outlook: Canola hits resistance
CNS Canada — ICE Futures Canada canola contracts moved higher over the past week, but may be running into resistance to the upside. “I’m sensing that canola is at the top end of the range,” said Errol Anderson of ProMarket Communications in Calgary, noting much of the recent strength was tied to advances in Chicago […] Read more
CBOT weekly outlook: Soy trade watching soymeal commitments
CNS Canada — Soybeans on the Chicago Board of Trade continue to climb on charts due to worries over dry soil conditions in Argentina and strength in soymeal — but that could change soon. Terry Reilly of Futures International in Chicago said traders are keenly watching to see soybean meal commitment numbers in Thursday’s U.S. […] Read more
U.S. grains: Argentine weather underpins corn, soy
Chicago | Reuters — U.S. corn and soybean futures firmed on Wednesday, stabilizing near recent highs on persistent concerns about dry weather in Argentina hurting crops as they pass through key stages of development, traders said. Corn’s gains were limited as the rally stalled out at the six-month high hit on Tuesday. Soybeans rose to […] Read more
USDA lowers U.S. corn stocks view as exports rise
Washington | Reuters — Surging export demand for U.S. corn will cut into domestic stockpiles of the grain by more than expected, the U.S. Agriculture Department said on Thursday. But U.S. soybean stocks were forecast to rise as a bumper harvest in Brazil will allow overseas buyers to source their oilseed purchases from the South […] Read more
U.S. grains: Soybeans hit one-week top
Chicago | Reuters — U.S. soybean futures set a one-week high on Thursday as worries about dry weather curtailing Argentina’s harvest overshadowed bearish data in a monthly U.S. Department of Agriculture report (USDA), analysts said. Corn futures firmed on strong export demand while wheat retreated on profit-taking after multimonth highs. Chicago Board of Trade March […] Read more
CBOT weekly outlook: USDA report delivers no surprises
CNS Canada — The latest report released from the U.S. Department of Agriculture had no surprises for traders at the Chicago Board of Trade (CBOT), leaving the March corn and soybean contracts little changed. “I think that brokers right now are on the phone talking to their customers, probably some co-ops, elevators are also, and […] Read more
U.S. grains: Wheat surges on worries about Plains dryness
Chicago | Reuters — Nearby Chicago wheat futures jumped three per cent on Wednesday and hit a four-month high on worries about dry conditions threatening yield prospects in the southern U.S. Plains, analysts said. Corn futures rose on robust export demand for U.S. supplies while soybean futures declined after a choppy session. Chicago Board of […] Read more
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