Chicago | Reuters — Chicago Board of Trade wheat futures rallied on Thursday for the second time in three days, hitting their highest in more than a week as investors scrambled to unwind short positions, traders said. The short squeeze came as the winter wheat crop in the U.S. has been breaking dormancy. “I think […] Read more
U.S. grains: CBOT wheat rallies on short-covering
U.S. livestock: Hog futures mixed after hitting three-month high
Chicago | Reuters — U.S. lean hog futures were mixed on Wednesday, with the front-month contract easing on profit-taking after rallying to a three-month high while deferred contracts rose on expectations of tight supplies, traders said. Live cattle contracts were firm following two straight days of declines with concerns about a massive U.S. storm system […] Read more
U.S. grains: Wheat falls on profit-taking
Chicago | Reuters — U.S. wheat futures eased 1.2 per cent on Wednesday, setting back on a mild round of profit taking after prices posted their biggest rally since last summer on Tuesday. Corn and soybeans ended higher after weakening overnight and early in the day session as traders moved to cover short positions amid […] Read more
ICE weekly outlook: Trade among issues hurting market
MarketsFarm — ICE canola futures are in trouble for a number of reasons, according to Exceed Grain senior marketing analyst Wayne Palmer. “We’re in a lot of trouble unless Trump signs this deal with China,” he said. Reports have stated the U.S. and China will sign a trade agreement at the end of March. U.S. […] Read more
CBOT weekly outlook: Time running out for trade talks
MarketsFarm — As trade talks between the U.S. and China continue, many are watching headlines closely for hints of what’s to come. The crop commodity market “has been in a downslide for a long time which is mainly due to U.S. and China trade uncertainties,” said Scott Capinegro of Barrington Commodity Brokers. “It always sounds […] Read more
U.S. grains: Wheat rallies as investors cover shorts
Chicago | Reuters — U.S. wheat futures jumped 5.5 per cent on Tuesday, rebounding from contract lows on a round of technical buying and bargain hunting in an oversold market, traders said. Corn and soybeans also were higher after recent declines, but their gains paled in comparison with wheat as traders unwound bearish positions despite […] Read more
U.S. livestock: Hog futures rally for second day
Chicago | Reuters –– U.S. lean hog futures rallied 3.7 per cent on Monday to their highest level since January, with strength in the cash market leading the way, traders said. But cattle futures weakened, setting back from Friday’s gains amid plentiful supplies. Chicago Mercantile Exchange April lean hogs settled 2.3 cents higher at 62.85 […] Read more
U.S. grains: Wheat futures plunge to contract lows
Chicago | Reuters — U.S. wheat futures sank 2.7 per cent to their lowest since January 2018 on Monday, pressured by plentiful stocks that were providing overseas buyers with multiple options for supplies when looking for export deals. The weakness in wheat weighed on corn, which notched its fourth straight day of declines and hit […] Read more
Trump budget proposes steep subsidy cuts to U.S. farmers
Washington | Reuters — U.S. President Donald Trump’s 2020 budget on Monday proposed a 15 per cent cut for the U.S. Department of Agriculture, calling its subsidies to farmers “overly generous” at a time when they are going through the worst crisis in decades because of depressed commodity prices and Trump’s trade tariffs. The Republican […] Read more
U.S. grains: Soybeans inch up on China purchases
Chicago | Reuters — U.S. soybean futures inched upward on Thursday on news that Chinese state-owned firms bought at least 500,000 tonnes of U.S. soybeans, while wheat futures dropped to their lowest levels in more than a year on pressure from a strengthening dollar, traders said. Chinese state-owned firms bought the U.S. soybeans for shipment […] Read more