MarketsFarm — Enormous canola crush margins will lead to increased demand for the Canadian oilseed, according to MarketsFarm’s director of markets and weather Bruce Burnett. As of Tuesday, the nearby November-October margins were estimated at $215.51 per tonne, while the same position for November-October 2023 now stands at $124.48/tonne. This time last year their margins […] Read more
ICE weekly outlook: Crush margins guiding canola demand
CBOT weekly outlook: Harvest, crop conditions pressuring prices
MarketsFarm — The Pro Farmer Midwest Crop Tour earlier this month brought attention to a potential reduction of corn yields in some areas of the U.S., causing a rally in prices. However, after crop conditions did not fall as expected, prices underwent a correction, according to one analyst. The U.S. Department of Agriculture (USDA), in […] Read more
U.S. grains: Corn down on recession fears, profit-taking
Corn falls off two-month top; soy, wheat also down
Chicago | Reuters — U.S. corn, wheat and soybean futures fell on Tuesday, joining broad declines in commodities and equity markets as traders fretted about the health of the global economy. Profit-taking also weighed on corn futures, a day after the benchmark December contract notched a two-month high linked to declining U.S. crop production prospects. […] Read more
U.S. livestock: Cattle futures climb on bargain-buying
CME lean hogs also higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose on Tuesday on bargain-buying, a day after the October contract hit a 3-1/2 week low, traders said. A setback in prices for corn, a key feedgrain, added support. But rallies were capped by broad declines in commodities, including crude oil, and Wall Street equity […] Read more
U.S. livestock: CME cattle futures soften amid recession fears
CME lean hogs close higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle and feeder cattle futures weakened on Monday amid spillover pressure from weakness in equity markets, analysts said. U.S. stocks closed lower, adding to sharp losses last week, on nagging concerns about the Federal Reserve’s determination to hike interest rates to fight inflation even as the economy […] Read more
U.S. grains: Corn hits two-month high on heat, dryness concerns
Soybeans ease as crop tour sees large U.S. harvest
Chicago | Reuters — Chicago Board of Trade corn futures set a two-month high on Monday after a U.S. crop tour last week found damage from hot, dry weather and organizers projected harvests would fall short of government estimates. Wheat futures rallied to their highest level in about seven weeks, while soybeans fell after the […] Read more
U.S. grains: Corn up on crop tour’s lowered expectations
Hot, dry weather seen limiting U.S. corn, soy yields
Chicago | Reuters — Chicago Board of Trade corn and soybean futures jumped on Friday on concerns about hot and dry weather reducing U.S. yields, analysts said. After the close of trading, advisory service Pro Farmer projected a U.S. corn harvest of 13.759 billion bushels, which would be the smallest since 2019 and below government […] Read more
U.S. livestock: CME feeder cattle weaken as grain prices climb
Chicago lean hogs end mixed
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures declined on Friday as a spike in crop prices signaled higher costs for livestock feed, brokers said. Grain and soybean futures rallied at the Chicago Board of Trade on concerns that unfavourable heat and dryness in the U.S. Midwest will limit yields in the upcoming […] Read more
U.S. grains: Soybeans, wheat, corn fall as traders book profits
Dispatches from crop tour limit day's losses
Chicago | Reuters — Chicago Board of Trade soybeans, wheat and corn futures fell on Thursday on a profit-taking setback after rallying earlier in the week, traders said. “We are just running into a bit of technical resistance across the board,” said Dan O’Bryan, a risk management specialist and broker at Top Third StoneX. “You […] Read more
U.S. livestock: Hog futures up off lowest since February
Chicago cattle futures mixed
Chicago | Reuters — Chicago Mercantile Exchange hog futures on Thursday edged up from a 6-1/2-month low on a round of short-covering after posting losses in four of the previous five sessions, traders said. But the hog market remained under pressure from a seasonal slowdown in demand as the grilling season nears its end. Cattle […] Read more