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
U.S. grains: Corn, soy slip on rains, crop ratings
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
U.S. grains: Wheat hits one-week top after USDA report
Chicago | Reuters — U.S. wheat futures climbed to their highest in more than a week after the U.S. Department of Agriculture (USDA) lowered its forecast of global wheat production in a monthly supply and demand report on Thursday. Corn and soybeans followed the firm trend in wheat. Chicago Board of Trade September wheat settled […] Read more
CBOT weekly outlook: World wheat output seen lower than expected
MarketsFarm — Parts of the U.S. Department of Agriculture’s latest world agriculture supply and demand estimates (WASDE) have “caught the trade off guard,” according to one trader. In its report, released Thursday, USDA significantly cut production volumes in Canada, Australia, Russia and Ukraine. In total, global wheat production was down 9.4 million tonnes, and stocks […] Read more
Large Manitoba edible bean crop likely, weather willing
MarketsFarm — Manitoba could be looking at its largest edible bean crop in over a decade, as acres were up and early development generally looks good. Manitoba farmers seeded an estimated 163,700 acres of edible beans in 2019, according to Statistics Canada data. That would be up 20 per cent on the year and marks […] Read more
U.S. grains: Soy, corn, wheat firm ahead of USDA monthly data
Chicago | Reuters — U.S. soybean, corn and wheat futures closed higher on Wednesday as traders adjusted positions a day before a monthly U.S. Department of Agriculture (USDA) report in which analysts expect the government to lower its 2019 U.S. yield estimates for corn and soybeans. The report due on Thursday is drawing extra interest […] Read more
Fund short position grows in canola
MarketsFarm — Speculators were actively adding to their short positions in the ICE Futures canola market during the holiday week ended July 2, according to Monday’s commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position came in July 2 at 65,022, an increase of nearly […] Read more
U.S. grains: Wheat, corn down on crop conditions, weather
Chicago | Reuters — Chicago corn and wheat futures settled down on Tuesday after the U.S. Department of Agriculture (USDA) raised its condition ratings for both grains and more crop-friendly weather was forecast for the Midwest. “This downward trend has been led by wheat,” said Ted Seifried of Zaner Group. “These crop conditions are absolutely […] Read more