MarketsFarm — As corn and soybean harvests in the United States wrap up for 2022-23, one analyst believes there will be little change in the yields determined by the U.S. Department of Agriculture (USDA). Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. at Hinsdale, Ill. said USDA’s November call of 172.3 bushels per acre […] Read more
CBOT weekly outlook: Cordonnier sees little change in U.S. corn, soy yields
Cordonnier stands pat on South American crop projections
La Nina 'is still out there,' analyst says
MarketsFarm — At this point in the South American planting season it’s too early to get an accurate bead as to how much corn and soybeans will be grown in Brazil and Argentina, according to Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. at Hinsdale, Ill. Cordonnier recently issued his latest estimates, keeping his […] Read more
U.S. grains: Wheat, corn up on reports of Russian missiles hitting Poland
January soybeans also close higher
Chicago | Reuters — U.S. grain futures rallied on Tuesday as reports that Russian missiles crossed into Poland raised concerns about escalating political tensions, market analysts said. A senior U.S. intelligence official said Russian missiles crossed into Poland, killing two people, the Associated Press reported. The Pentagon said it could not confirm reports that Russian […] Read more
Fund position switches to net long in canola
Net long in CBOT corn decreases on the week
MarketsFarm — The overall speculative position in the ICE Futures canola market swung from net short to net long during the first week of November, marking the first time speculators were holding more longs than shorts in four months. That’s according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures […] Read more
U.S. grains: Soybeans, corn end lower as crude oil sags
Chicago December wheat firms
Chicago | Reuters — Chicago soybean and corn futures fell on Monday on spillover pressure from crude oil along with uncertainty about export demand for U.S. supplies of both crops, analysts said. But wheat futures rose on signs of global export demand while traders continued to monitor prospects for the renewal of an export corridor […] Read more
U.S. grains: Soy futures up on China COVID curbs, weakening U.S. dollar
Corn market gains boosted by strength in crude oil market
Chicago | Reuters — Chicago wheat, corn and soybeans rose on Friday, underpinned by strong commodities and equities markets, as well as hopes that China’s easing of COVID-19 restrictions could boost demand. Soybeans bounced on hopes that China’s move to ease some COVID-19 curbs might spur economic activity, potentially boosting demand for goods including soybeans. […] Read more
Feed weekly outlook: Grain supplies good, freight costs higher
'They don't have as many drivers as normal'
MarketsFarm — There are still sufficient supplies of feed barley and wheat to be had on the Canadian Prairies — but there are issues with getting that feed from point to point, according to Erin Harakal, senior trader at Agfinity at Stony Plain, Alta. “I do think there are enough supplies from what we have […] Read more
U.S. grains: Chicago futures slide on profit taking, slumping dollar
Wheat slips following USDA report
Chicago | Reuters — Chicago corn, wheat and soybean futures all fell on Thursday as investors across the board sought to take profits amid global supply questions, even as the U.S. dollar tumbled on news that U.S consumer prices rose less than expected in October, traders said. The monthly U.S. inflation reading is being closely […] Read more
CBOT weekly outlook: Rising U.S. corn, soy yields ‘a little surprising’
'Somehow the USDA found higher yields'
MarketsFarm — Updated estimates in the U.S. Department of Agriculture’s monthly supply/demand report, released Wednesday, saw larger than expected increases to soybean and corn yield estimates in the country. However, that data did little to move the markets, with the commodities likely stuck in a sideways range for the time being, according to a trader. […] Read more
U.S. grains: Wheat drops as USDA raises global supply view
USDA lifts U.S. corn, soy yield views; stocks still tight
Chicago | Reuters — U.S. wheat futures fell on Wednesday after the U.S. Department of Agriculture (USDA) unexpectedly raised its global supply outlook in a monthly report, citing larger crops in Australia, the U.K. and Kazakhstan that offset lower Argentine and EU production. A firmer U.S. dollar also weighed on wheat, along with optimism about […] Read more
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