Chicago | Reuters — U.S. corn futures fell more than one per cent on Thursday on a rising estimate of Argentina’s crop and chart-based selling, analysts said, while soybeans and wheat also declined. Chicago Board of Trade (CBOT) March corn settled down 4-3/4 cents at $3.76-1/2 a bushel (all figures US$). March soybeans ended down […] Read more
U.S. grains: Corn, soy end lower on technical selling
CBOT weekly outlook: Soy, corn follow trade talks closely
Talks between the U.S. and China taking place in Washington this week are being followed closely by Chicago Board of Trade soybean and corn traders, with optimism over improving relations between the two countries helping prop up the futures. “The U.S./China talks will be on the top of all traders’ minds,” said Terry Reilly, of […] Read more
ICE weekly outlook: Canola waits on trade talks, USDA reports
ICE canola futures are quiet at the end of January, but could see some movement from outside influences in the coming weeks, according to Exceed Grain senior marketing analyst Wayne Palmer. “Everybody is waiting to see what’s going to happen with the Chinese/United States (trade) talks,” he said. Two days of high-level trade negotiations between […] Read more
U.S. grains: Corn, soy, wheat firm as U.S. dollar retreats
Chicago | Reuters — U.S. corn and soybean futures rose on Wednesday in light, largely technical trade as brokers awaited news from high-level U.S.-China trade talks in Washington, analysts said. Wheat followed the firm trend, drawing late support from a downturn in the U.S. dollar after the Federal Reserve struck a cautious tone on its […] Read more
USDA extends deadline for aid after shutdown
Washington | Reuters — U.S. farmers now have until Feb. 14 to apply for federal aid designed to offset the impact of retaliatory Chinese tariffs on American crops, the U.S. Department of Agriculture said on Monday, after delays caused by the month-long government shutdown. The previous deadline for the aid program, officially known as the […] Read more
U.S. grains: Soybeans hit two-week high
Chicago | Reuters — U.S. soybean futures climbed to a two-week high on Friday on worries about the size of Brazil’s crop and short-covering ahead of planned U.S.-China trade talks next week, traders said. Corn firmed, following strength in soybeans, while wheat drifted lower, pressured by news that a private forecaster had raised its estimate […] Read more
U.S. livestock: CME hogs weaken on technical selling, demand uncertainty
Chicago | Reuters — Chicago Mercantile Exchange hog futures eased on Thursday on a round of technical follow-through selling after declining on Wednesday, traders said. Weakness in the cash market, as well as uncertainty about demand from China, also weighed on the hog market. CME February lean hogs closed Thursday at 59.825 cents/lb., down from […] Read more
CBOT weekly outlook: Brazil, China drive U.S. commodities
With little data filtering out of the U.S. Department of Agriculture (USDA), news from Brazil and trade negotiations with China are currently driving futures contracts on the Chicago Board of Trade (CBOT). “It’s Brazilian weather over there and the Chinese negotiations, which sometimes are on and sometimes aren’t,” said Jack Scoville of Price Futures Group […] Read more
USDA to reopen all farm agency offices
Washington | Reuters — The U.S. Department of Agriculture said Tuesday it will reopen all Farm Service Agency offices on Thursday to offer services to farmers and ranchers during the partial government shutdown. Some Farm Service Agency (FSA) offices had been providing limited services since Jan. 17, but the move means all of the agency’s […] Read more
ICE weekly outlook: Quiet winter has canola steadying
CNS Canada — The ICE Futures canola market is expected to stabilize now as there isn’t really any big news to drive North American oilseed markets. “We don’t have something very dominant for traders to focus on and supplies are pretty comfortable everywhere in the oilseed complex for now… the only factor that has hurt […] Read more