MarketsFarm — Despite canola production in Australia being set to drop 26 per cent in 2022-23, the country’s farmers are still projected to harvest the second largest crop, according to the U.S. Department of Agriculture’s attaché in Canberra. In the attaché’s report, released Monday, canola production for the coming crop year was projected to be […] Read more
Australian canola production heading downward, but still sizeable
New second-biggest harvest expected, USDA predicts
U.S. grains: Soy extends slide, corn mixed
CBOT wheat continues lower
Chicago | Reuters — U.S. soybean futures fell for a second session on Friday, with the spot May contract dropping below US$16 a bushel for the first time in a month after the U.S. Department of Agriculture forecast record soy acreage in that country. Corn futures ended mixed. The front May contract on the Chicago […] Read more
Soybeans to gain, corn to lose U.S. acres, USDA report predicts
MarketsFarm — More soybean acres are projected to be seeded in the United States this year, while fewer corn acres will be planted according to a report that has surprised analysts. The U.S. Department of Agriculture (USDA) released its survey-based Prospective Plantings report on Thursday and the projected acreage numbers for two of the country’s […] Read more
Indonesia palm oil production to rise, USDA attache says
MarketsFarm — There’s to be a small increase in palm oil production in Indonesia in 2022-23, according the U.S. Department of Agriculture’s attaché in Jakarta. The attaché pegged palm oil output to rise by 1.1 per cent at 46 million tonnes due to favourable weather and higher prices for producers. Also, the attaché revised 2021-22 […] Read more
U.S. grains: Soybean futures rise on export strength
Corn, wheat also strong
Chicago | Reuters — Chicago Board of Trade soybean, wheat and corn futures firmed on Friday, with all three commodities recovering from declines posted during the overnight trading session. The strength in soybeans stemmed from signs that demand for U.S. supplies remains strong even with newly harvested soybeans from South America available on the marketplace. […] Read more
Mainland U.S. moving to resume P.E.I. potato imports
P.E.I. growers get 'certainty' for spring planting, Bibeau says
Exports of fresh potatoes from Prince Edward Island to the mainland U.S. are expected to resume “soon” as U.S. officials move to put new rules in place for such shipments. The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS) said Thursday that Canada “is expected to soon resume exporting (P.E.I.) table stock […] Read more
USDA opens inquiry into fertilizer, seed prices
Reuters — The U.S. Department of Agriculture is opening an inquiry into the impacts of concentration in the fertilizer, seed and retail markets. The inquiry stems from the Biden administration’s July 2021 executive order to promote competition across the U.S. economy, the agency said in a release Friday. Global supply chain problems and inflation have […] Read more
U.S. grains: Wheat futures limit down as USDA cuts exports
Corn pressured by oil prices, soybeans pare gains
Chicago | Reuters — Chicago wheat futures hit their daily trading limit on the downside for the second straight day on Wednesday, as the U.S. government cut domestic wheat exports and global markets continue to be roiled by supply disruptions stemming from Russia’s invasion of Ukraine. Soybean futures turned lower after the U.S. Department of […] Read more
Early USDA forecast points to record-large 2022 soybean crop
MarketsFarm — Farmers in the U.S. could grow a record-large soybean crop in 2022, according to early predictions from the U.S. Department of Agriculture released at their annual Agricultural Outlook Forum (AOF) on Thursday. The government agency forecast soybean plantings in the country at 88 million acres, which would be up by 800,000 from the […] Read more
CBOT weekly outlook: Russia-Ukraine tensions fuelling rallies
MarketsFarm — Russia’s incursion into Ukrainian territory, which has intensified an already tense standoff between Russia and the West, has had a bullish effect for grain prices on the Chicago Board of Trade (CBOT) during the week ended Tuesday, according to Scott Capinegro of Barrington Commodity Brokers at Lake Barrington, Ill. The March corn contract […] Read more
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