Chicago | Reuters — U.S. corn and wheat prices each rose more than one per cent on Tuesday as strength in crude oil helped the broader commodities sector rebound from sharp declines a day earlier, analysts said. Soybean futures were modestly higher, supported by bullish monthly U.S. crushing data. Chicago Board of Trade December corn […] Read more
U.S. grains: Corn and wheat up as crude oil soars
Egypt stocks up on strategic commodities ahead of devaluation
Cairo/Abu Dhabi | Reuters –– Egypt said it plans to build a six-month reserve of essential food items, adding to other recent purchases of commodities such as oil and wheat, in what traders said was a move to build up stocks ahead of a currency devaluation. Prime Minister Sherif Ismail said late on Tuesday the […] Read more
Louis Dreyfus stems profit slide, but headwinds persist
Paris | Reuters — Agricultural trading giant Louis Dreyfus Company eked out a small rise in 2016 first-half net profit, saying steady shipped volumes helped it weather another tough period in commodity markets. Louis Dreyfus has been grappling with ample supply, lower prices and slower economic growth that have cut margins, while also going through […] Read more
OPEC announcement could boost ag markets, maybe
CNS Canada — The bearish malaise that has gripped the North American agricultural market shows no sign of breaking soon, and it could take a major disruption, say such as a hike in oil prices, to lead the way higher, according to some industry watchers. “Let’s say we go to US$55 (per barrel). That would […] Read more
ICE weekly outlook: Canola in need of outside catalyst
CNS Canada — Canola contracts on the ICE Futures Canada platform held within a rather narrow range during the week ended Wednesday, but moved higher overall. However, further gains will take an outside catalyst, according to a market analyst. “There’s a very firm tone to the market,” said Errol Anderson of ProMarket Communications. Fund traders, […] Read more
Sheltered from the storm — Canadian farm sector doing well
Low dollar and a robust demand for pulses, canola, and specialty crops has spared Prairie producers from troubled times
Reading Time: 3 minutes As the U.S. enters a dark period for its farm economy, there’s cautious optimism in the Canadian agricultural outlook. “The net income and the overall situation in the United States is not looking good,” said Craig Klemmer, senior agricultural economist with Farm Credit Canada. “When we look at the net income expectations for 2016, there’s […] Read more
Glencore to cut more debt as 2015 profit falls
London | Reuters — Glencore stepped up its debt reduction plan on Tuesday by promising to offload more assets to shore up its finances to cope with a commodities rout that wiped around a third off its 2015 profit. The Swiss mining and trading house, whose agricultural arm includes Canadian grain handling giant Viterra, aims […] Read more
A quick and easy crystal ball? Popular books
Reading Time: < 1 minute Ever wonder if there’s a way to predict what’s going to happen in commodity markets? John DePutter has a quick and easy method that won’t cost you a cent. “Look at when oil was over $100 (a barrel),” the president of DePutter Publishing told attendees at FarmTech. “Books were on the shelves in Chapters saying the […] Read more
Hang on, market turbulence ahead
FarmTech: Currency wars, actual wars, China, ocean freight, Russia, and oil are just a few of the things roiling grain markets these days
Reading Time: 4 minutes Tough times are here to stay. This was the message that Errol Anderson delivered to a silent, sombre room during a session at FarmTech. “There is no sense kidding ourselves about what is going on,” said Anderson, a market analyst and president of ProMarket Communications. “What we’re going through right now is a correction. There’s […] Read more
Smallest ag markets biggest winners in commodities rout
New York | Reuters –– Some of the smallest niche agricultural commodities were the biggest winners this year as weather and disease raised concerns about tightening supplies, spurring a buying spree as an exodus of institutional cash punished oil, metals and grains markets. Cocoa, cotton, sugar and frozen concentrated orange juice on ICE Futures U.S. […] Read more
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