MarketsFarm — China’s demand for U.S. soybeans has been the major factor behind the bullish soy complex at the Chicago Board of Trade (CBOT), according to Terry Reilly of Futures International in Chicago. China has been on something of a buying tear, with sales being announced by the U.S. Department of Agriculture (USDA) on a […] Read more
CBOT weekly outlook: Chinese demand leading factor in bullish soy market
USDA lowers soy, corn yield expectations
MarketsFarm — Adverse weather over the past month cut into the yield prospects for soybeans and corn in the U.S., according to updated estimates released Friday from the U.S. Department of Agriculture. Average soybean yields in the country are now forecast at 51.9 bushels per acre. That was down from the August estimate of 53.3 […] Read more
ICE weekly outlook: Canola shows volatility after long weekend
MarketsFarm — Although there remains a lot of canola to be combined, one trader believes most harvest pressure on the market has already passed. “The farmers who wanted to sell off of the combine or shortly after, probably have done so already,” said Jerry Klassen, an independent Winnipeg commodities trader. There will still be some […] Read more
CBOT weekly outlook: Seasonal harvest pressure weighs on soy, corn
MarketsFarm — Market activity on the Chicago Board of Trade has been characteristic for September, with harvest activity keeping pressure on values. “The trend for September turns to the downside as harvest starts to pick up,” said Steve Georgy of Barrington Commodities at Barrington, Ill. However, next week’s world agriculture supply and demand estimates (WASDE) […] Read more
ICE weekly outlook: Canola steady at midweek
MarketsFarm — Canola contracts at ICE Futures showed strength earlier in the week, due to comparable strength in Chicago soyoil. “Bean oil is keeping it firm,” said Ken Ball of P.I. Financial in Winnipeg — but canola was still lagging behind. “It won’t go up as much as United States markets.” Soybean oil started to […] Read more
Monday’s storm hit an estimated 37.7 million acres in U.S. Midwest
Chicago | Reuters — A storm packing hurricane-force winds on Monday impacted 37.7 million acres of farmland across the Midwest, including 14 million in Iowa, the Iowa Soybean Association said on Friday, citing estimates from the U.S. Department of Agriculture. The toll from the derecho storm has worsened as farmers and grain handlers have spent […] Read more
U.S. grains: Soybeans, corn up after USDA confirms massive U.S. crops
Traders assessing damage from Midwest storm Monday
Chicago | Reuters — Chicago Board of Trade corn and soybean futures rose on Wednesday as short-covering and position-squaring emerged after the U.S. Department of Agriculture confirmed expectations for massive crops, traders said. USDA, in a monthly report, said U.S. farmers will reap their biggest corn harvest and second-biggest soybean harvest, thanks to favourable weather. […] Read more
U.S. farmers to harvest record-large corn crop, second-largest soy crop, USDA says
Estimates don't include impact of recent Midwest storm
Chicago | Reuters — U.S. farmers will reap their biggest corn harvest and their second biggest soybean harvest this fall as good summer weather shepherded the crops through key phases of development, the U.S. Agriculture Department said on Wednesday. The crop outlooks, which also included average yields for both corn and soybeans as the largest […] Read more
Yield, production increases expected from USDA
MarketsFarm — Market expectations ahead of a crop production report due out Wednesday from the U.S. Department of Agriculture are for increases in U.S. soybean and corn yields. “I get the sense the trade is looking for the USDA to up corn yields by 1.9 bushels per acre, to 180.4 bu./ac., while soy yields are […] Read more
Canola exports top 10 million tonnes in 2019-20
MarketsFarm — Total Canadian canola exports during the 2019-20 crop year were up nine per cent on the year, and slightly above the five-year average, according to the latest weekly data from the Canadian Grain Commission (CGC). With 229,800 tonnes exported during the final week of the 2019-20 marketing year, the preliminary total canola exports […] Read more
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