MarketsFarm — Although there were no major changes to soybeans in June’s world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture, the commodity’s price shot up on the Chicago Board of Trade. USDA on Tuesday issued its monthly WASDE report, in which estimated U.S. corn production was lowered by nine per […] Read more
CBOT weekly outlook: What happens with corn, will happen to soybeans
Corn down, soybeans steady in latest U.S. supply/demand report
MarketsFarm — Corn production in the U.S. has been projected to drop by almost nine per cent in 2019, according to the latest world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture (USDA). The department released its report on June 11, with some notable changes and ‘non-changes’ compared to its May […] Read more
U.S. grains: Corn hits one-week high as USDA cuts yield more than expected
Chicago | Reuters — U.S. corn futures climbed to a one-week high on Tuesday after the U.S. Department of Agriculture (USDA) made a bigger-than-expected cut to its yield estimate due to unprecedented planting delays this spring. USDA, in a monthly report, slashed its corn yield projection by 10 bushels an acre from May, or 5.7 per […] Read more
U.S. grains: Corn seesaws, soy rises on planting uncertainty
Chicago | Reuters — U.S. corn futures veered between gains and losses while soybean futures rose on Monday as planting delays fueled uncertainty over the size of the nation’s crops. Heavy rains delayed plantings the spring and traders remain unsure about how many acres of corn and soy will actually be planted and how much […] Read more
USDA investigates unapproved GMO wheat in Washington state
Chicago | Reuters — The U.S. Department of Agriculture has confirmed the discovery of unapproved, genetically modified (GM) wheat plants growing in an un-planted agricultural field in Washington state. There was no evidence the wheat had entered the food supply, USDA’s Animal and Plant Health Inspection Service said in a statement on Friday. The wheat […] Read more
U.S. grains: Corn, soy rise as report shows rain slows plantings
Chicago | Reuters — Chicago Board of Trade (CBOT) corn futures rose on Tuesday to revisit last week’s three-year highs after the U.S. Department of Agriculture said U.S. planting was well behind the average pace for this time of year following repeated rainfall. Soybeans rose too as rain also slowed U.S. sowings, according to the […] Read more
U.S. grains: CBOT wheat rallies on weather
Chicago | Reuters — U.S. wheat futures rallied on Monday on concerns about harvest risks as more heavy rain was forecast in some U.S. grain belts and warm, dry weather was expected in top wheat exporter Russia. Meanwhile, corn and soybean futures traded choppily as the markets digested a threat of U.S. tariffs against Mexico, […] Read more
U.S. livestock: Futures fall as corn rally boosts feeding costs
Chicago | Reuters — Chicago Mercantile Exchange cattle and hog futures closed mostly lower on Thursday, with a rally in the corn market pressuring livestock contracts, traders said. “It had a lot to do with corn going up,” said Doug Houghton, an analyst with Brock Associates Inc. “Feed costs are higher.” Feeder cattle futures notched […] Read more
U.S. grains: Soy futures extend rally
Chicago | Reuters — U.S. soybean futures rose 1.6 per cent on Wednesday, hitting their highest since mid-April on support from concerns that planting delays in the U.S. Midwest will lead to a sharp cutback in acreage as well as harvest yields, traders said. The jump followed a U.S. Agriculture Department report after the market […] Read more
CBOT weekly outlook: Planting report spurs farmer selling
MarketsFarm — Soybeans on the Chicago Board of Trade (CBOT) are trying to play catch-up in what has become a weather market, according to Steve Georgy of Allendale Inc. Corn planting in the U.S. was far behind its five-year average due to persistent wet conditions, he said, and that created the scenario of U.S. farmers […] Read more