MarketsFarm — There should be changes to 2022-23 Argentina corn and wheat endings stocks, according to the U.S. Department of Agriculture’s (USDA) attaché in Buenos Aires. The Global Agricultural Information Network (GAIN) report cited a sharp increase in the carryover for corn and a smaller bump up when it came to wheat. The effects of […] Read more
Revisions possible for Argentina corn, wheat carryouts
USDA attache has eyes on drought conditions
CBOT weekly outlook: Latest USDA adjustments do little to move market
Selling pressure short-lived after report
MarketsFarm — Updated supply/demand estimates (WASDE) from the U.S. Department of Agriculture were neutral to slightly bearish for soybeans, corn and wheat, with latest numbers largely coming in line with expectations. The February report is traditionally not a major market mover, with the Chicago futures markets waiting for confirmation on South American crops and for […] Read more
U.S. grains: Chicago wheat, corn, soy firm on WASDE report
South America's weather drags on competing exports
Chicago | Reuters — Chicago wheat, corn and soybean futures firmed on Wednesday, supported by weather conditions in South America that hamper rival exports, though higher-than-expected U.S. supplies limited gains. The most-active wheat contract on the Chicago Board of Trade (CBOT) added 15 cents to $7.64-3/4 a bushel (all figures US$). CBOT soybeans added 4-1/2 […] Read more
U.S. grains: Corn, soybeans fall ahead of USDA report
U.S. wheat futures end mixed
Chicago | Reuters — Chicago Board of Trade soybean and corn futures fell on Tuesday as investors squared positions ahead of the U.S. government’s key monthly reports on global supply and demand. Traders were focused on the size of the corn and soybean harvests in Argentina as drought stressed the crops in that key global […] Read more
U.S. grains: Soy futures fall on technical selling
Corn edges higher; wheat weak
Chicago | Reuters — U.S. soybean futures dropped on Monday on a technical setback after rallying to the high end of recent trading ranges last week, traders said. Corn ended higher after trading in negative territory for much of the day, with the market finding support near Friday’s low. Investors were waiting for news about […] Read more
Argentina soybean crop smaller than expected, USDA attaché says
MarketsFarm — Argentina’s 2022-23 soybean crop is likely much smaller than official projections as high temperatures and a lack of moisture cut into yields, according to an update from the U.S. Department of Agriculture’s Buenos Aires attaché. The USDA post from the South American country pegged the soybean crop at only 36 million tonnes, which […] Read more
U.S. grains: Wheat futures firm; technical resistance weighs
Chicago soybeans up, corn down
Chicago | Reuters — Chicago wheat futures gained on Tuesday as traders eye winter wheat conditions across the U.S. Plains amid a second frigid cold snap this season, though futures struggled against technical resistance. Soybeans futures ended up, though prices were pressured by a correction in the soymeal charts, traders said. Corn futures ended lower, […] Read more
USDA sees little change in Australian, Canadian wheat output
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
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