MarketsFarm — There remained little doubt that Brazil’s corn safrinha (second) crop will be smaller than initially anticipated, according to Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. He chalked up most of that due to conditions being too dry and too wet for the planting of Brazil’s soybean crop, depending on the region. […] Read more
Brazil’s second corn crop facing delays
Acres either too dry or too wet for planting
U.S. grains: Wheat down on supply outlook boost
Soybeans hit two-month high before retreating; expected increase in U.S. yields weighs on corn
Chicago | Reuters — U.S. wheat futures declined on Tuesday as the markets reacted to better-than-expected crop conditions, while soybean futures climbed to a two-month high on adverse weather conditions in Brazil before retreating. The U.S. Department of Agriculture (USDA) rated 50 per cent of the country’s winter wheat crop in good-to-excellent condition after trading […] Read more
Net speculative short position in canola tops 100,000 contracts
Net long increases in CBOT soy
MarketsFarm — Speculative fund traders continued to add to their large short positions in canola futures during the last week of October, taking the net managed money short position over 100,000 contracts for the first time on record, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As […] Read more
U.S. grains: Chicago soybeans find two-month high
Wheat crop above expectations
Chicago | Reuters — Chicago soybean futures on Monday hit their highest level in some eight weeks on weather concerns in top exporter Brazil and arid conditions in Argentina. Corn futures finished unchanged, while wheat rose slightly as weakness in the U.S. dollar added support to the markets. Traders monitored uneven crop weather in Brazil, […] Read more
China moves closer to commercial planting of GMO crops
Numerous corn and soybean varieties approved by regulator in recent ruling
Reading Time: < 1 minute China has approved 37 genetically modified corn seed varieties and 14 GM soybean varieties, taking it close to commercial planting. The varieties approved by the Ministry of Agriculture and Rural Affairs in a recent notice include corn varieties owned by Yuan Longping High-tech Agriculture Co., Syngenta and Dabeinong. China is the world’s top buyer of soybeans and corn, importing […] Read more
U.S. grains: Soybeans set 6-1/2-week high
Weaker U.S. dollar lifts grains complex
Chicago | Reuters — U.S. soybean futures touched a 6-1/2-week high on Friday, lifted by uneven crop weather in top soy producer Brazil and fresh export demand for U.S. supplies, coupled with a plunge in the dollar that bolstered corn and wheat futures as well. Chicago Board of Trade (CBOT) January soybean futures settled up […] Read more
Feed weekly outlook: Prices to continue slipping back
Feedlots covered for now
MarketsFarm — Feed prices are set continue grinding lower for the balance of 2023, “as domestic end users are covered,” according to Jim Beusekom, president of Market Place Commodities in Lethbridge. Beusekom pointed to the amount of contracted corn being imported from the United States as well as better-than-expected yields across the Prairies this harvest. […] Read more
U.S. grains: Chicago soybeans climb as China pushes demand
December wheat up, corn down
Chicago | Reuters — U.S. soybean futures rose on Thursday after China said imports will likely stay high as it sets an all-time record for purchases of the crop this year while weather remains a concern in Brazil. Wheat prices also rose, while corn dropped on reports of higher U.S. yields. Chicago Board of Trade […] Read more
U.S. grains: Corn drops to seven-week low
Wheat, soybeans move higher
Chicago | Reuters — Benchmark U.S. corn futures fell to their lowest point in seven weeks on Wednesday as the harvest continued and showed better than expected yields, while weather forecasts improved in crop areas of South America. Wheat and soybean prices were modestly higher in rangebound trading. Chicago Board of Trade (CBOT) corn closed […] Read more
CBOT weekly outlook: Demand, not interest rates, affecting markets
U.S. Fed decision 'pretty much factored in'
MarketsFarm — While key interest rates in the United States will stay put for the time being, corn and wheat prices on the Chicago Board of Trade (CBOT) declined steadily during the week ended Wednesday. The U.S. Federal Reserve announced earlier Wednesday that the central bank’s policy rate will remain within 5.25 and 5.5 per […] Read more
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