CNS Canada — ICE Futures Canada canola contracts suffered significant losses during a volatile week ended Wednesday. While futures managed to recover off their fresh contract lows hit during the week, the overall technical bias remained pointed lower. Weakness in the U.S. soy complex and vegetable oil market were joined by strength in the Canadian […] Read more
ICE weekly outlook: Canola drops amid widespread pressure
CBOT weekly outlook: Corn, soy in harvest-induced trading range
CNS Canada –– Corn and soybeans at the Chicago Board of Trade are both sitting at the low end of their trading ranges, with South America’s harvest keeping bullish features at a minimum. Corn — The May corn contract will probably establish new contract lows over the course of the week, said Terry Reilly, senior […] Read more
U.S. grains: Wheat rallies after multiyear lows
Chicago | Reuters — Chicago Board of Trade wheat futures rallied to close higher on Wednesday as traders covered short positions following the market’s drop to its lowest level in nearly six years. Soybean futures also advanced on bargain buying, halting a six-session slide, while corn settled fractionally higher. At the CBOT, May wheat finished […] Read more
U.S. grains: Wheat to multiyear lows on strong dollar, crop ratings
Chicago | Reuters — U.S. wheat futures fell to multi-year lows on Tuesday, pressured by strength in the dollar and better crop conditions than last year in the Plains, analysts said. Soybean and corn futures declined for a sixth straight session, with the most-active May contracts in both markets falling to multi-week lows. At the […] Read more
U.S. grains: Corn sags for fifth straight session on lacklustre demand
Chicago | Reuters — Chicago Board of Trade corn futures fell on Monday for a fifth straight session, retreating from early advances as concerns about weak demand pressured the market, traders said. Soybean futures sagged on larger-than-expected deliveries against futures while wheat futures were mostly higher. At the CBOT, the most active May corn contract […] Read more
U.S. grains: Hefty supply pushes soy to 10-week low
Chicago | Reuters — U.S. soybean futures fell on Friday, with the nearby contract touching its lowest level in more than 10 weeks, under pressure from hefty global supplies, while soybean meal futures approached a six-year low. Expanding inventories and concerns about sluggish demand also pushed front-month corn futures to their lowest price in more […] Read more
U.S. grains: Futures fall as USDA forecasts more corn acres
Chicago | Reuters — U.S. corn and soybean prices fell on Thursday as commodity traders reacted to forecasts of increased corn plantings and grain production, as well as predictions of falling prices in the coming growing season. But wheat futures bounced back during the day’s trading, firming for the first time in six sessions on […] Read more
CBOT weekly outlook: Corn, soy down with optimal weather
CNS Canada — Favourable weather is good news for producers, but bad news for prices, as Chicago Board of Trade corn and soybean futures edge lower with a relative lack of concerns. Corn — Corn futures have been grinding lower over the course of the week as South American harvest is expected to start soon, […] Read more
ICE weekly outlook: ‘Time will tell’ for canola after drop
CNS Canada — Canola contracts on the ICE Futures Canada platform dropped sharply during the week ended Wednesday, falling below major support as some stops were hit on the way down. While damage was done from a chart standpoint, end-user demand remains solid and “time will tell” if the downtrend continues or if canola manages […] Read more
U.S. grains: Wheat lowest since June 2010 on bumper supplies
Chicago | Reuters — U.S. wheat futures sank to 5-1/2-year lows on Wednesday under pressure from large global supplies and sluggish demand, in the markets’ fifth consecutive session of declines. Corn and soybean futures each fell for a second day, pressured by the prospect of bumper crops in South America coming to market. Follow-through selling […] Read more