MarketsFarm — The speculative short position in canola grew to is largest level in nearly three months in early June, as investors covered longs and put on more bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Tuesday (June 6), the net managed money […] Read more
Fund short position grows in canola
Traders net long in soy, K.C. wheat
CBOT weekly outlook: Ending stocks of corn, soy predicted to rise
Ending stocks of wheat projected to drop as drought hits Kansas winter wheat
MarketsFarm — Ahead of supply and demand estimates from the U.S. Department of Agriculture due out Friday, analyst Tom Lilja of Progressive Ag in Fargo, N.D. predicted increases in 2023-24 ending stocks for U.S. corn and soybeans and decline for wheat. The average trade guess for wheat going into this month’s report was approximately 570 […] Read more
Rain needed for soybeans, other southern Manitoba crops
Seeded soybeans projected to be up more than 40 million acres from 2022
MarketsFarm – When Toban Dyck started to plant his 600-plus acres of soybeans this year, the soil in the Winkler, Man. area had pretty decent moisture content. But following the combination of hot temperatures and strong winds with little rainfall in May, precipitation is now much needed. “There’s still a little bit of moisture there. […] Read more
CBOT weekly outlook: Quick seeding bringing down prices
U.S. debt ceiling negotiations affected crude oil prices, agricultural commodities mostly immune
MarketsFarm – Prices for corn, soybeans and wheat on the Chicago Board of Trade (CBOT) were pressured by fast planting paces during the week ended May 31, according to one trader. The U.S. Department of Agriculture (USDA) reported on May 30 that 92 per cent of the country’s corn crop was planted as of Sunday, […] Read more
World production seen up with more corn, soybeans
IGC holds wheat production estimate steady
MarketsFarm — As the International Grains Council (IGC) raised its estimate for total world grain production in 2023-24, its forecast on corn and soybeans were increased as well. Meanwhile, production estimates for wheat were held steady. The London-based IGC issued its latest supply and demand report on Thursday. World grain production was bumped up by […] Read more
Argentina soybeans expected to go from horrible to great
El Nino expected to improve growing conditions
MarketsFarm — While Argentina is headed to one of its worst soybean harvests in decades, the U.S. Department of Agriculture (USDA) attaché in Buenos Aires projects a huge turnaround in 2023-24. Argentina is the world’s third-largest grower of soybeans — a fair amount less than Brazil and the U.S., but a lot more than other […] Read more
CBOT weekly outlook: More acres expected for U.S. corn, soybeans, wheat
USDA acreage projections due out March 31
MarketsFarm — With expectations of far fewer prevent-planting acres for 2023-24, Terry Reilly of Futures International has called for increases in planted area for corn, soybeans and wheat in the U.S. this spring. The U.S. Department of Agriculture (USDA) is scheduled to release its planting projections on March 31. Reilly pegged planted corn acres at […] Read more
China to buy more homegrown soybeans for reserves
State-owned firms urged to prioritize domestic soy
Beijing | Reuters — China will step up buying of domestic soybeans by state reserves to encourage farmers to keep planting the crop, the agriculture ministry said on Thursday, as Beijing continues to push for greater self-sufficiency in oilseed. China started to increase soybean planting a year ago amid worries about its heavy reliance on […] Read more
ICE weekly outlook: No floor in sight for overdone canola
'A lot of money playing around in canola right now'
MarketsFarm — The ICE Futures canola market was in freefall mode through the first half of March, hitting its weakest levels in over a year. While the losses may be looking overdone, the bottom remains to be seen. “This has been a brutal drop in canola,” said Bruce Burnett, director of markets and weather with […] Read more
ICE weekly outlook: Canola drifts downward with soybeans
Wheat's recent decline may spur canola acres
MarketsFarm — The ICE Futures canola market drifted downward during the week ended Wednesday largely due to macroeconomic activity in the markets, according to one analyst. Jerry Klassen from Resilient Commodity Analysis in Winnipeg said canola prices have mostly followed the lead of the Chicago soy complex, while rains fell on Brazil as its soybean […] Read more
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