MarketsFarm — Recent rains in parts of South America, as well as a correction in the markets, have paused rallies in corn and soybeans on the Chicago Board of Trade (CBOT), according to one trader. Jack Scoville, vice-president of The Price Futures Group in Chicago, said that while central and southern Argentina are still mired […] Read more
CBOT weekly outlook: Wide array of factors affecting grain prices
Corn, soy see speculative profit-taking
Lake Erie grain terminal sold to main tenant
Ceres sells export facility to London Ag Commodities
The former Robin Hood flour mill turned grain export terminal on the Ontario side of Lake Erie is under new ownership by its main user. Minneapolis-based Ceres Global Ag announced Wednesday it has sold the well-known terminal at Port Colborne, Ont., about 30 km west of Buffalo, N.Y., to London Agricultural Commodities (LAC) for US$4 […] Read more
U.S. grains: Soy, corn hit one-week highs on Argentina weather worries
Firmer U.S. dollar drags on CBOT wheat
Chicago | Reuters — U.S. soybean and corn futures hit their highest in a week and soyoil touched a one-month peak on Tuesday as worries about crop prospects in drought-hit Argentina supported prices, analysts said. “It’s all about drought in Argentina… and adding more risk premium,” said Don Roose, president of Iowa-based U.S. Commodities. “The […] Read more
U.S. grains: Soy, corn, wheat inch higher ahead of holiday weekend
Chicago markets close Monday for Presidents Day
Chicago | Reuters — Chicago Board of Trade corn, soybean and wheat futures closed modestly higher on Friday as traders squared positions ahead of a three-day U.S. weekend and weighed contrasting crop prospects in South America, analysts said. Uncertainty about the future of a Black Sea grain export corridor underpinned values, while a firming dollar […] Read more
U.S. grains: Soybeans end higher in choppy trade
CBOT corn mixed, wheat down; MGEX, K.C. wheats up
Chicago | Reuters — U.S. soybean futures inched higher on Thursday while corn ended narrowly mixed after a choppy session as traders weighed poor crop prospects in Argentina against the expanding harvest of a massive Brazilian soybean crop and fears of rising interest rates, analysts said. Chicago Board of Trade (CBOT) wheat futures fell on […] Read more
Feed weekly outlook: Grain bids quietly drift lower
Oats still making their way into feedlots
MarketsFarm — Prices for feed barley and wheat in Western Canada drifted lower during the week ended Wednesday. Erin Harakal, trade manager for Agfinity Inc. at Stony Plain, Alta., said a relatively milder winter across the Prairies has resulted in less consumption of feed grains in feedlots. In turn, feedlots are not purchasing as much […] Read more
IGC makes changes in corn, soybean supply outlook
Council makes only minor tweaks in wheat
MarketsFarm — There are some notable changes to the monthly report from the International Grains Council (IGC), primarily in corn and soybeans. The London-based IGC on Thursday issued new supply and demand estimates, pointing to reduced agricultural production such as in Argentina as the main reason for the changes. That’s despite increased output in Brazil […] Read more
U.S. grains: Wheat, corn, soy down on stronger U.S. dollar, interest rate fears
Uncertainty over Black Sea deal underpins corn, wheat
Chicago | Reuters — U.S. wheat futures fell more than two per cent on Wednesday and corn and soybeans followed the trend lower, pressured by a stronger U.S. dollar and fears of more interest rate hikes by the Federal Reserve, analysts said. Fundamental news for grains and oilseeds was thin, leaving markets stuck within recent […] Read more
CBOT weekly outlook: Values pull back from upper ranges
Early U.S. estimate of planting intentions due out next week
MarketsFarm — Despite some bullish influences, commodity prices at the Chicago Board of Trade (CBOT) were stepping back in mid-February. That movement wasn’t a surprise to Scott Capinegro of Barrington Commodity Brokers in Barrington, Ill. Prices for corn, soybeans and wheat had been at the upper end of their ranges, he said. “We are still […] Read more
Mexico opens door for GM corn in feed, industrial uses
U.S. 'disappointed' in Mexico's new decree
Mexico City | Reuters — Mexico on Monday scrapped a deadline to ban genetically modified corn for animal feed and industrial use amid trade tensions with the United States — but retained plans to prohibit use of the GM grain for human consumption, as well as the herbicide glyphosate. The move, approved in a government […] Read more
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