MarketsFarm – Shifting weather forecasts and trade talk rumours should keep the soybean and corn markets at the Chicago Board of Trade on edge over the next few weeks, as participants wait on updated acreage numbers from the United States Department of Agriculture. The USDA’s August 12 report will include results of an acreage resurvey […] Read more
CBOT weekly outlook: Soybeans and corn watching weather, waiting on acreage numbers
China’s soy crushers in no rush to buy from U.S.
Beijing | Reuters – Despite the carrot of a potential exemption from import tariffs, Chinese soybean crushers are unlikely to buy in bulk from the United States any time soon as they grapple with poor margins and longer-term doubts about Sino-U.S. trade relations, people familiar with the matter said. China imposed a 25 per cent […] Read more
Federal report expects canola output down, wheat up
MarketsFarm — Expectations for canola production in Canada were revised downward Friday by Agriculture and Agri-Food Canada (AAFC). AAFC has now estimated Canadian farmers will produce 18.575 million tonnes of canola in 2019, down about 8.7 per cent from its previous estimate. Earlier this week, MarketsFarm analyst Bruce Burnett predicted canola production would be down […] Read more
U.S. grains: Corn, soy gain as market wrestles with export, crop prospects
Chicago | Reuters — Chicago corn and soybean futures settled up on Friday as investors weighed trade talks between the United States and China and expected cooler U.S. weather against uncertainty over acreage levels following a rain-soaked spring. Some analysts said there may be some technical buying pushing up futures, especially soybeans. They also looked […] Read more
U.S. grains: Soy falls on cooler weather, China cancellation
Chicago | Reuters — Chicago soybean futures settled down following a choppy day of trading on Thursday, after hitting the lowest level in more than a week on forecasts for cooler weather and export data showing China had canceled soy purchases for the first time since April. U.S. Agriculture Department data showed the world’s top […] Read more
U.S. grains: Wheat, soybeans slightly lower after midday rise
Chicago | Reuters — Chicago wheat and soybean futures settled slightly lower on Wednesday as forecasts for cooler weather lifted expectations for better crop conditions after this week’s hot spell, though corn edged higher. Markets had been falling since Monday’s U.S. Department of Agriculture (USDA) weekly crop progress report, which showed conditions for soy and […] Read more
U.S. grains: Corn, soy slip on rains, crop ratings
Chicago | Reuters — U.S. grain and soybean futures extended losses on Tuesday as crops in the U.S. Midwest were poised to benefit from rains, traders said. Technical selling and better-than-expected U.S. Department of Agriculture crop condition ratings added pressure on prices. Showers in parts of the Midwest and Mississippi Delta temporarily eased concerns about […] Read more
Funds remain short canola and soybeans
MarketsFarm — Fund traders continue to hold onto a large net short position in the canola market, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position came in Tuesday at 57,512,an increase of roughly 5,000 contracts from the previous week. Open […] Read more
Cargill shuts China feed mills as swine fever spreads
Chicago | Reuters — Cargill shuttered animal-feed mills in China in recent months partly because the rapid spread of a fatal hog disease has reduced demand, a company executive said Friday. The closures highlight the pain for global agriculture companies from the outbreak of African swine fever in China, the world’s top hog producer and […] Read more
U.S. grains: Corn tops three-week high on heat wave
Chicago | Reuters — U.S. corn futures exceeded a three-week high on Friday and soybeans advanced as forecasts for a heat wave fuelled concerns about potential damage to crops growing in farmers’ fields. Traders focused on worries about hot, dry conditions after heavy rains and flooding caused unprecedented delays in corn planting this spring. The […] Read more
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