Chicago | Reuters — U.S. President Donald Trump is assuring a bumper year for farmers as the Nov. 3 election approaches, with record government subsidies projected to make up more than a third of farm income in 2020. The aid programs could be key to Trump’s chances of success in swing states such as Wisconsin, […] Read more
Trump’s payments to farmers hit all-time high ahead of election
Canadian growers seek level playing field
CBOT weekly outlook: Harvest pressure to weigh on soy, corn
MarketsFarm — Seasonal harvest pressure may weigh on soybean and corn futures at the Chicago Board of Trade over the next month, but there is also still good support on the other side, according to an analyst. “The biggest trouble now for the market is the harvest pressure coming in,” said Tom Lilja of Progressive […] Read more
Trump’s EPA sides with farmers over refiners on biofuel waivers
New York | Reuters — The Trump administration said on Monday it rejected scores of requests from U.S. oil refiners for waivers that would have retroactively spared them from their obligation to blend biofuels like ethanol into their fuel, delivering a win for farmers and a blow to the oil industry just ahead of the […] Read more
Corteva posts weak revenue, disappointing outlook
Reuters — Corteva Inc. on Wednesday missed analysts’ expectations for second-quarter revenue and its reinstated full-year forecast came in below estimates, sending the seed and pesticide producer’s shares down as much as nine per cent in extended trade. Good weather and higher planted area shifted corn volumes in North America to the first quarter, while […] Read more
CBOT weekly outlook: Large corn, soybean crops expected
MarketsFarm – The Chicago Board of Trade (CBOT) continues to watch growing conditions in key regions of the United States, as record yields are expected for corn crops. “Corn is pretty much made,” said Terry Reilly of Futures International in Chicago, Ill. “Conditions have improved significantly, and nobody sees any major problems.” Trade participants expect […] Read more
Green Plains sues ADM, alleging ethanol market manipulation
Chicago | Reuters — Green Plains Inc., one of the biggest U.S. ethanol producers, sued Archer Daniels Midland on Tuesday, accusing the global grain trader of manipulating the price of the biofuel to profit from its positions in the derivatives market. Green Plains filed the proposed class action with the U.S. District Court of Nebraska, […] Read more
U.S. grains: Wheat declines as USDA estimates record global stocks
Corn gains on ethanol estimates; soybean traders eye Chinese demand
Chicago | Reuters — Chicago wheat futures slid on Thursday after the U.S. Department of Agriculture estimated global stocks were at a record high in its monthly supply and demand report, traders said. Soybean futures ended nearly unchanged as the USDA lowered export expectations, even after recent purchases from China supported prices. Corn advanced as […] Read more
U.S. grains: Soybeans fall in technical correction
Corn strengthens on ethanol revival; wheat slips as harvest mounts
Chicago | Reuters — Chicago soybean futures closed lower on Monday on technical selling, after reaching a two-month high, following a week of strong export sales. Corn gained as higher oil prices boosted hopes for ethanol demand and concerns loomed over mounting dryness in parts of the Midwest. Wheat slipped as harvests in Texas and […] Read more
U.S. grains: Corn, wheat up as weather, currency spark short-covering
Hong Kong row tempers hopes of China demand for U.S. soy
Chicago | Reuters — U.S. corn futures jumped on Thursday to a five-week high as a weaker dollar, forecasts for hotter, drier weather in the Midwest corn belt and a further rebound in ethanol production triggered bargain buying and short-covering by managed funds. Wheat futures also rallied on expanding dryness across the Plains wheat belt […] Read more
CBOT weekly outlook: Ag commodities steady
Slack demand for biofuel has dragged on corn
MarketsFarm — Crop commodity values on the Chicago Board of Trade (CBOT) have largely stabilized as COVID-19 restrictions are relaxed in several U.S. states. “We’ve been playing this virus for a few months now,” said Scott Capinegro of Barrington Commodities in Barrington, Ill. COVID-19-related lockdown measures decimated demand for ethanol, which put considerable pressure on […] Read more
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