Chicago | Reuters — Chicago Board of Trade wheat futures surged four per cent on Thursday, recovering from a 4-1/2-month low a day earlier, as recession fears in financial markets eased. Soybean futures climbed three per cent and corn rose two per cent in their own moves away from multi-month lows touched in the previous […] Read more
U.S. grains: Wheat rebounds four per cent as recession jitters abate
Corn, soybeans up two per cent after also hitting multi-month lows
CBOT weekly outlook: Speculation, harvests plunge grain prices
MarketsFarm –– Recession fears and harvest pressures weighed down grain prices on the Chicago Board of Trade (CBOT) for the week ended Tuesday and it’s unknown when the selloffs will end. Wheat contracts took a tumble by about $1.40 per bushel during the week, while the August soybean contract dropped $1.3225/bu. to close at $14.3925 […] Read more
U.S. grains: Corn, soy futures up off multi-month lows
Chicago wheat settles lower
Chicago | Reuters — Chicago Board of Trade corn and soybean futures rebounded on Wednesday after tumbling to multi-month lows as fears about a global recession fueled liquidation in commodity markets, analysts said. Bargain buying helped support prices following recent sell-offs by funds that were seen as overdone, analysts said. Traders remain uncertain about the […] Read more
StatCan trims Canadian corn, soy acreage estimates
Grain corn acreage still expected up from 2021 level
New Statistics Canada projections show the country’s grain corn and soybean growers have slightly curbed their enthusiasm for those crops compared to their intentions earlier in the year. StatCan on Tuesday released the results of its 2022 June field crop survey, conducted between May 13 and June 12, projecting Canadian corn area at 3.633 million […] Read more
U.S. grains: Futures fall on recession fears, Midwest rains
U.S. crop ratings lower than trade expected
Chicago | Reuters — U.S. corn, soybean and wheat futures fell to multi-month lows on Tuesday, joining a broad sell-off in crude oil and equity markets tied to fears of a global economic recession and waning demand for commodities, analysts said. Beneficial rains in portions of the U.S. Midwest over the Independence Day weekend bolstered […] Read more
Marcos vows to boost Philippines’ grains output
New president/ag min aims to avert food crisis
Manila | Reuters — Philippine President Ferdinand Marcos Jr. vowed Monday to do what it takes to boost his country’s rice and corn production, seeking to reduce reliance on imports and avoid being hit hard by a food crisis now looming across the world. Marcos, who was sworn in as president last week and has […] Read more
Feed weekly outlook: Decline in feed grain prices anticipated
MarketsFarm – Much-needed rains falling onto most parts of Alberta have created ideal growing conditions for feed grains in the province, which has already created a slight decline in prices. “Southern Alberta has been very, very dry, but we’ve had anywhere from four to six inches of rain over the last three weeks,” said Mike […] Read more
Feed weekly outlook: Barley, wheat prices starting to soften
MarketsFarm – It appears that the days of feedlots on the Prairies primarily using corn may be coming to an end. After nearly a year of feedlots importing corn from the United States, due to tight supply and higher prices for feed barley and feed wheat in Western Canada, demand has mostly turned towards cereal […] Read more
U.S. grains: Wheat futures hit lowest since late March
Chicago corn, soybeans also weak
Chicago | Reuters — U.S. wheat futures sank 5.7 per cent on Tuesday to their lowest level in 2-1/2 months, pressured by early harvesting in the United States and Europe as well as fresh efforts to boost the amount of grain shipped from Ukraine. Corn futures were down three per cent as weather forecasts turned […] Read more
Canola net long position smallest in 10 months
MarketsFarm — The net long position held by fund traders in the ICE Futures canola market continued to dwindle in the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC), hitting its smallest level since August 2021. The net managed money long position in ICE Futures canola came in […] Read more
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