Washington | Reuters — U.S. farmers slashed their winter wheat plantings to the lowest in more than a century as supplies of the grain ballooned to a 29-year high, the U.S. Agriculture Department said Thursday. USDA also dialed back its harvest estimates for the U.S. soybean and corn crops but 2016-17 marketing year production of […] Read more
U.S. farmers cut winter wheat acres to 108-year low
CBOT weekly outlook: Soy, corn to tilt lower moving forward
CNS Canada — Following a U.S. government supply and demand report due out Thursday, soybeans and corn are expected to be sideways to lower as traders anticipate upcoming supplies, one U.S. analyst says. “Technically we’ve kind of ran up to the higher end of our trading ranges. We probably can back off a little bit,” […] Read more
CBOT weekly outlook: Corn, soy positioning ahead of USDA report
CNS Canada — Chicago Board of Trade (CBOT) corn futures chalked up modest gains on the week ended Wednesday, as slow farmer selling and weakness in the U.S. dollar underpinned the market. March corn ended 11 and a half cents higher from the previous week (all figures US$). It was another volatile stretch for corn, […] Read more
CBOT weekly outlook: Corn, soy likely rangebound
CNS Canada — Soybeans and corn at the Chicago Board of Trade are likely to be rangebound following a report from the U.S. Department of Agriculture (USDA) on Wednesday. USDA on Wednesday released its monthly world agricultural supply and demand estimates (WASDE), to which traders were looking for direction. “Soybeans, corn — there’s probably a […] Read more
CBOT weekly outlook: Corn, soybeans look overpriced
CNS Canada –– Corn futures on the Chicago Board of Trade appear poised to fall lower in the days to come, after a surprising week in which values jumped around 18 cents per bushel. “Price-wise, if you look at the charts, we are high up on some ranges, too high for the moment,” said Brian […] Read more
CBOT weekly outlook: Corn, soy markets lean on yield data
CNS Canada –– A data set from the U.S. Department of Agriculture (USDA) has given traders a better idea of yield potential, which will dictate short-term market movement. Soybeans — The soybean market will likely trend lower in the near-term, said Terry Reilly of Futures International in Chicago. “We’re still bearish, given that we think […] Read more
CBOT weekly outlook: Further downside ahead for soy, corn
CNS Canada –– Soybeans and corn at the Chicago Board of Trade lost ground on the week, and harvest pressure could cause further declines in coming sessions, one U.S. analyst says. Soybeans – Soybean prices settled at a key technical level on Wednesday, which means traders will be closely watching the market for indications on […] Read more
Klassen: Feeder market brewing but caution prevails
Western Canadian feeder cattle prices were steady to $4 higher relative to week-ago levels. Yearling volumes are starting to increase in central and northern Alberta while the southern and eastern regions experienced limited activity. Buyers’ opaque attitudes resulted in a firmer tone and no one could feel guilty for a minor intemperance. However, the circumspect […] Read more
CBOT weekly outlook: Corn, soy enter temperature-driven phase
CNS Canada — Chicago Board of Trade corn and soybean futures are entering a period that is typically driven by weather concerns and little else. The U.S. Department of Agriculture on Tuesday released its world agricultural supply and demand estimates (WASDE) report. Both corn and soybeans improved in price after the report predicted lower-than-expected stocks […] Read more
CBOT weekly outlook: Corn, soy likely to decline in wake of USDA reports
CNS Canada — Corn and soybean markets at the Chicago Board of Trade moved to fresh highs on the week, gaining alongside mounting weather concerns, but one U.S. analyst says the rally could be limited. Soybeans — “It’s just completely insane, but we’ll see what the (U.S. Department of Agriculture) has to say,” said Sean […] Read more
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