Mumbai | Reuters — India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high. The government said it would still allow exports backed by already issued letters of credit and to countries that request supplies […] Read more
India bans wheat exports as heat wave hurts crop, domestic prices soar
Ban could push global wheat prices to new peaks
Feed weekly outlook: Market watching new-crop weather
MarketsFarm — With excessive moisture in the eastern Prairies and persistent drought in southern Alberta, uncertainty over new-crop grain production is keeping some caution in the feed market. The spot market is relatively steady as the market waits for a better picture on this year’s growing conditions. “A lot of the feedlots have all the […] Read more
CBOT weekly outlook: Markets react to USDA supply/demand estimates
Wheat data 'surprisingly supportive'
MarketsFarm — The U.S. Department of Agriculture (USDA) on Thursday released its monthly world agriculture supply/demand estimates (WASDE) — the first to show estimates for the 2022-23 marketing year — and markets reacted quickly. Ryan Ettner, a broker for Allendale Inc. at McHenry, Ill., said that while figures for corn and soybeans were in line […] Read more
India sells record 1.4 million tonnes of wheat in April
Sales surge on unavailability of Black Sea supplies
New Delhi | Reuters — India exported a record 1.4 million tonnes of wheat in April, four trade sources said, providing some relief to grain markets as buyers scramble for alternatives to Black Sea supplies hit hard by the war in Ukraine. April is the first month of the fiscal year. India, the world’s second […] Read more
U.S. grains: Chicago grains firm after planting-inspired decline
USDA world report eyed for gauge of Ukraine war, harvest prospects
Chicago | Reuters — Chicago soybean futures edged up on Tuesday, a day after sliding on macroeconomic worries, as traders assessed U.S. planting progress. Wheat traded near even, pressured by recent rainfall across the U.S. Great Plains, though global supply concerns underpinned the market, while corn traded near even, supported as the pace of planting […] Read more
Feed weekly outlook: Corn trading higher than barley
Seeding begins in Alberta
MarketsFarm — Imported corn from the U.S. is still the grain of choice for feedlots in southern Alberta, despite the fact feed barley is at a slightly lower price right now. Corn traded on Wednesday at around $480 per tonne ($12.19 per bushel) in Lethbridge, said Jim Beusekom, president of Market Place Commodities in Lethbridge. […] Read more
U.S. grains: Chicago wheat climbs on new global supply concerns
Corn pressured by hopes of planting progress
Chicago | Reuters — Chicago wheat climbed for a second session on Thursday, underpinned by hot and dry weather across India that is likely to diminish that nation’s wheat export potential, while similar conditions erode U.S. winter wheat crops. Soybean and corn futures added after trading near even all day, as global supplies remain uncertain […] Read more
CBOT weekly outlook: U.S. spring wheat seeding near standstill
MarketsFarm — A succession of weather events has pretty much brought spring planting in North Dakota and Minnesota to a standstill, according to analyst Tom Lilja of Progressive Ag at Fargo, N.D. The weekly crop progress report from the U.S. Department of Agriculture (USDA) estimated nationwide planting of spring wheat at 19 per cent complete […] Read more
U.S. grains: Chicago wheat jumps on India export concerns
Soy follows, corn mixed
Chicago | Reuters — Chicago wheat futures soared on Wednesday on reports that India, a major world producer, would restrict exports as a drought threatened its production even as the nation had hoped to fill a global export gap created by ongoing war in Ukraine. Soybean futures also gained, while corn traded near even, awaiting […] Read more
U.S. grains: Corn eases despite slow U.S. plantings
Soybeans, wheat fall but remain above multi-week lows
Chicago | Reuters — Chicago corn futures fell on Tuesday after initial gains, pressured by demand uncertainty despite adverse weather delays to U.S. planting progress, analysts said. Recent rainfall also pressured wheat, despite declining crop conditions, while soybeans moved lower on expectations of increased plantings if corn seedings continue to falter. The most-active corn contract […] Read more