MarketsFarm — Saskatchewan Agriculture on Thursday issued its first weekly crop report of 2022, showing only one per cent of all crops in the ground. The report cited cool temperatures and spring snowstorms holding back many farmers getting into their fields. The overall five-year average at this time of year is five per cent complete. […] Read more
Seeding already behind in Saskatchewan
U.S. grains: Corn eases as harvest progresses
Soybeans climb after reaching three-month low
Chicago | Reuters — Chicago corn eased for a fourth session on Tuesday as harvest progressed in the U.S., pressuring supplies, while a rallying dollar and lingering storm disruption cooled export sentiment. Wheat tracked corn lower on outside market pressure, while soybeans firmed after a near three-month low on Monday. The most-active corn contract on […] Read more
U.S. grains: Prices down on rains, Ida shuts grain facilities
Iowa, Minnesota crops benefit from rain; Cargill says Ida damaged Louisiana terminal
Chicago | Reuters — Favourable rains in the U.S. Farm Belt combined with approaching harvests to push down Chicago Board of Trade grain and soybean futures on Monday, analysts said. Traders, meanwhile, assessed disruptions to U.S. crop exports from Hurricane Ida at a time when global supplies are tight and demand from China is strong. […] Read more
U.S. grains: Corn climbs on weaker crop conditions
Soybeans mixed, wheat eases
Chicago | Reuters — Chicago corn futures climbed on Wednesday for a second day after the U.S. Department of Agriculture cut crop ratings on Monday afternoon, though beneficial rainfall across parts of the upper U.S. Midwest limited gains. Soybeans ended higher after the market made its biggest daily gain since late June on Tuesday, with […] Read more
U.S. grains: Soybeans rally as crop conditions drop, soyoil prices rise
Hot weather forecast for heart of Midwest farm belt
Chicago | Reuters — U.S. soybean futures rallied on Tuesday on eroding Midwest crop conditions and improving export demand, and as soyoil prices rose another three per cent amid further gains in crude oil markets. Corn futures also climbed on deteriorating crop conditions across the heart of the farm belt. Wheat ended lower, though spillover […] Read more
Durum markets reckon with weather
'There was no wiggle room for a crop problem'
MarketsFarm — The higher temperatures soared and the longer between rains in Western Canada, the lower the yield projections for most crops — and drought-tolerant durum wheat is no exception. With bids already elevated due to a downturn in potential new-crop supply, the price of durum could rise even higher. “There’s not a lot of […] Read more
U.S. grains: Corn, soybeans sink after Midwest rains
Wheat down on big Kansas crop outlook, export competition
Reuters — U.S. corn and soybean futures fell on Monday as rains boosted recently planted crops across the U.S. Midwest and as traders weighed future export demand following a flurry of corn purchases by China last week. Wheat futures also fell, sinking to the lowest level in more than a month as prospects for a […] Read more
CBOT weekly outlook: Markets could go higher after U.S. Thanksgiving
Ethanol data show demand for corn
MarketsFarm — Just ahead of the Thanksgiving holiday in the United States, the Chicago Board of Trade was pulling back a little, generating double-digit losses in most wheat contracts, while corn and soybeans were down by smaller amounts. However, from Steve Georgy, president of Allendale Inc. at Fort McHenry, Ill., sits, the trend after Thanksgiving […] Read more
U.S. grains: China tensions cap soybeans’ gains
Corn prices up slightly on trade optimism; wheat falls back slightly
Chicago | Reuters — U.S. soybean futures climbed on Thursday, boosted by demand from China, although escalating tensions between Beijing and Washington capped gains. Corn edged higher as optimism over possible continued buying from China offset strong crop conditions. Wheat scaled back on technical selling. The most-active soybean contract on the Chicago Board Of Trade […] Read more
ICE weekly outlook: Canola under pressure at midweek
MarketsFarm — Canola contracts have received considerable pressure from outside sources, but held above $480 per tonne this week. Ken Ball of P.I. Financial in Winnipeg expected canola to be down by $6-$10, but nearby contracts closed lower by about a dollar at $483.60 per tonne. Ball referred to weakness in Chicago soyoil, along with […] Read more
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