MarketsFarm — There isn’t much in the way of significant changes in the U.S. Department of Agriculture’s (USDA) attaché reports on grain production in Australia and Canada. USDA’s Global Agricultural Information Network (GAIN) office in Canberra pegged Australia’s wheat production for 2022-23 at 37 million tonnes, 400,000 more than the official USDA estimate. In comparison, […] Read more
USDA sees little change in Australian, Canadian wheat output
U.S. grains: Wheat, soy, corn up on strong export report
South America crop progress limits corn, soy gains
Chicago | Reuters — U.S. wheat, corn and soybeans jumped on Thursday on support from a government report that showed strong overseas demand for all three commodities, traders said. “We had some decent export sales compared to what we have seen the last few weeks and that trend, particularly for corn and wheat, is likely […] Read more
CBOT weekly outlook: Commodities largely rangebound after USDA report
MarketsFarm — Although soyoil on the Chicago Board of Trade has fallen back for five consecutive days as of Tuesday, it has remained rather rangebound, according to trader Ryan Ettner of Allendale Inc. in McHenry, Ill. “We’re actually at prices where it was in early August,” Ettner said, pointing to something of a back-and-forth shifting […] Read more
U.S. grains: Soy, corn rise on smaller U.S. harvest, Argentina drought worries
U.S. markets closed Monday for Martin Luther King Jr. Day
Chicago | Reuters — U.S. soybean futures climbed for a third straight day on Friday and corn scaled to a 1-1/2 week top on follow-through buying after bullish U.S. Department of Agriculture (USDA) crop data the prior day and concerns about poor South American weather. Both markets gained more than two per cent since USDA […] Read more
U.S. grains: Corn, soybeans surge after USDA cuts 2022 harvest view
Brazil's CONAB projects big corn crop, record soy crop
Chicago | Reuters — U.S. corn and soybean futures rallied on Thursday after the U.S. Department of Agriculture (USDA) unexpectedly cut its 2022 harvest estimates for both crops, which would mean smaller-than-expected supplies. Wheat futures gained on spillover support from rising corn and soy. Traders largely shrugged off USDA’s larger-than-anticipated winter wheat crop acreage estimate […] Read more
U.S. grains: Futures firm ahead of USDA crop data
Wheat up on technicals, short covering; corn mixed, soybeans firm on Argentine drought concerns
Chicago | Reuters — U.S. wheat futures firmed on Wednesday as a drop to 15-month lows in the previous session sparked technical buying and short covering, and as traders took positions ahead of key U.S. government crop reports, traders said. Corn was mixed and soybeans edged higher, underpinned by concerns about weather-reduced crops in South […] Read more
ICE weekly outlook: Sideways canola market watching macros
USDA report may offer nearby direction
MarketsFarm — ICE Futures canola contracts remain stuck in a sideways trading range to start the New Year, with bearish outside forces countered by relatively supportive fundamentals. From a chart standpoint, March canola is stuck in a sideways range between $800 and $900, with little to suggest a break one way or the other for […] Read more
CBOT weekly outlook: USDA ‘data dump’ due next week
'Minor changes' expected for corn, soy
MarketsFarm — A flurry of reports is coming from the U.S. Department of Agriculture (USDA) on Jan. 12, including its monthly supply and demand estimates, quarterly grains stocks report and winter wheat planting report, among others. Futures International analyst Terry Reilly said the multitude of the reports coming out that Thursday will essentially be a […] Read more
CBOT weekly outlook: U.S. winter wheat to feel the cold
Crop off to 'a really bad start'
MarketsFarm — With frigid weather coming out of the Arctic, across the Canadian Prairies and into the U.S., there has been an upswing in wheat prices at the Chicago Board of Trade (CBOT). Prior to Christmas Day, temperatures are expected to fall as cold as -40 C in the northern Plains to below freezing in […] Read more
Large gap between StatCan, USDA canola estimates
USDA sticks closer to StatCan expectations on wheat
MarketsFarm — There’s a significant difference in the amount of canola grown in Canada during 2022-23, in the estimate from Statistics Canada (StatCan) compared to that from the U.S. Department of Agriculture (USDA). Earlier in December, StatCan’s survey-based production of principal field crops report pegged this year’s canola harvest at 18.17 million tonnes. That’s a […] Read more
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