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
CBOT weekly outlook: Rising U.S. corn, soy yields ‘a little surprising’
'Somehow the USDA found higher yields'
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
Pulse weekly outlook: Price disconnect between lentil growers, destinations
Stronger loonie pressures prices
MarketsFarm — There’s something of a disconnect in green lentil prices, between what Canadian farmers have seen recently and to where those pulses are being sold, according to Toronto-based Marcos Mosnaim of Export Packers. Green lentils increased in price up until a couple of weeks ago, Mosnaim said. “It was a combination of farmers not […] Read more
U.S. grains: Wheat, corn, soy ease as traders await crop data
Wheat traders eye Black Sea supplies
Chicago | Reuters — U.S. grain and soybean futures on Tuesday eased on long liquidation ahead of the release of widely followed government crop forecasts on Wednesday, analysts said. The wheat market also grappled with Black Sea supply prospects as Ukraine sought to expand a grain deal allowing exports from Black Sea ports. The most-active […] Read more
U.S. grains: Soybeans, corn sag on worries about China demand
Upcoming USDA data in focus
Chicago | Reuters — U.S. soybean futures dropped on Monday, retreating from a six-week high, pressured by fears about export demand after top buyer China denied it was considering easing its stringent zero-COVID policy. Traders were also adjusting positions ahead of monthly supply-and-demand reports due at mid-week from the U.S. Department of Agriculture (USDA). Wheat […] Read more
U.S. grains: Wheat, corn, soy end higher but below session peaks
Weaker U.S. dollar supportive
Chicago | Reuters — U.S. wheat, corn and soybean futures edged higher on Friday, recovering from overnight weakness on spillover support from friendly outside markets, traders said. “Equities went from lower to sharply higher, the dollar from higher to lower, and I think that spurred some buying in grains,” said Don Roose, president of U.S. […] Read more
Feed weekly outlook: Corn imports pressure grain prices in Lethbridge
MarketsFarm — With harvesting operations winding down, high-delivered bids for feed barley and wheat in Alberta are higher compared to the same time last month and last year. However, there is still some volatility in feed grain prices, according to one Lethbridge-based trader. “I think most (of the increase) was (due to) demand, but as […] Read more
U.S. grains: Soy futures rally on strong exports
Chicago corn, wheat also firm
Chicago | Reuters — U.S. soybean futures rose 1.4 per cent on Thursday as strong export data buoyed hopes that overseas buyers will book more deals in coming weeks. Corn and wheat futures also were firm, with short-covering and technical buying underpinning the market after prices for both commodities dropped near the low end of […] Read more
ICE weekly outlook: Canola sees choppy, sideways month-end trade
Wide crush margins remain bullish
MarketsFarm –– ICE Futures canola contracts held within a narrow range during the week ended Wednesday, lacking any clear direction with the rolling of positions out of the nearby November contract ahead of its expiry behind much of the trade volumes. “We’re stuck a little rangebound here,” a Winnipeg-based trader said of the sideways activity, […] Read more
CBOT weekly outlook: Ukraine talks, low Mississippi River pressure prices
Outside forces pile on seasonal harvest pressures
MarketsFarm — Ongoing harvests for corn, wheat and soybeans in the U.S. and a strong U.S. greenback are putting pressure on markets in the Chicago Board of Trade (CBOT). However, other factors have caused prices to come down during the week ended Tuesday. While the war in Ukraine continues to rage on, negotiations persist between […] Read more
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