Chicago | Reuters — U.S. soybean futures fell on Wednesday, pressured by weather forecasts that will allow farmers to make good progress on the end of their planting tasks as well as concerns about demand from China. Chicago Board of Trade wheat futures also were weaker, with the market setting back on reports that Russia […] Read more
U.S. grains: Soybean, wheat futures fall
CBOT corn closes higher
ICE weekly outlook: Canola sideways for now
MarketsFarm — The ICE Futures canola market may have seen some large price swings over the past few weeks, but remains relatively rangebound overall with values sitting just below their all-time highs. The upward momentum is slowing down, said David Derwin, a commodities investment advisor with PI Financial in Winnipeg. However, he added, it remains […] Read more
CBOT weekly outlook: Prices likely to trend downward
MarketsFarm — With weather in the U.S. becoming more favourable for spring planting, combined with other factors, prices on the Chicago Board of Trade CBOT) are expected to push lower, according to Scott Capinegro of Barrington Commodity Brokers at Barrington, Ill. “If you’re getting it planted and it rains, the stuff is off to a […] Read more
U.S. grains: Corn futures touch six-week low
Wheat weakens, soybeans strong
Chicago | Reuters — U.S. corn futures dropped 1.8 per cent to a six-week low on Tuesday, pressured by a government report that farmers have made good progress in their much delayed planting tasks during the past week, traders said. “This is likely to ease previous concerns that the delays to planting could lead to […] Read more
Planting progress picking up in Saskatchewan
MarketsFarm — Overall spring planting across Saskatchewan reached 33 per cent complete as of Monday, according to the latest weekly crop report from Saskatchewan Agriculture. Despite the good progress over the week, that’s still 20 points behind the five-year average. When compared to the excellent progress this time last year, the gap expands to 41 […] Read more
ICE weekly outlook: Highs might be in for old-crop canola
New crop in 'a very uncertain stage'
MarketsFarm — The highs may be in for old-crop canola contracts on the ICE Futures platform, with attention in the market turning to the new crop. “I think the market has probably defined the upside potential and the acute demand rationing that needed to occur is done,” said Jerry Klassen, an independent commodity trader and […] Read more
CBOT weekly outlook: Rallies end as plantings continue slow pace
MarketsFarm — Soybean and wheat prices on the Chicago Board of Trade (CBOT) rallied throughout the week, but may start to ease as spring plantings progress. Terry Reilly, senior agriculture futures analyst for Futures International in Chicago, said India’s newly-implemented ban on wheat exports starting last Saturday due to a severe heat wave was the […] Read more
Pulse weekly outlook: Still early in season to switch crops
Decisions likely in next couple of weeks
MarketsFarm — With dry conditions dominating western and southwestern Saskatchewan and wet conditions prominent in the province’s east and northeast, at mid-May it remained early to consider switching pulse crops to something else, according to Carl Potts, executive director of Saskatchewan Pulse Growers. Overall, he said, spring planting throughout the province as of May 9 […] Read more
Spring planting well underway in Ontario
MarketsFarm — Farmers are well into seeding their crops for 2022, according to Wednesday’s crop report from Ontario’s Ministry of Agriculture, Food and Rural Affairs (OMAFRA). The report noted planting of corn, soybeans and spring cereals started late last week — the exception being where there are heavier soils. OMAFRA projected planting could be 80 […] Read more
CBOT weekly outlook: Markets react to USDA supply/demand estimates
Wheat data 'surprisingly supportive'
MarketsFarm — The U.S. Department of Agriculture (USDA) on Thursday released its monthly world agriculture supply/demand estimates (WASDE) — the first to show estimates for the 2022-23 marketing year — and markets reacted quickly. Ryan Ettner, a broker for Allendale Inc. at McHenry, Ill., said that while figures for corn and soybeans were in line […] Read more
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