MarketsFarm — The weather is just one of the factors guiding futures values at the Chicago Board of Trade (CBOT), according to Terry Reilly, grains analyst for Futures International in Chicago. As prices have fluctuated with hot and dry weather interrupted by rain, Reilly noted there’s more to the ebbs and flows than the latest […] Read more
CBOT weekly outlook: Weather market expected for rest of month
Pulse weekly outlook: Timely rains benefitting Saskatchewan crops
MarketsFarm — As with crops across the Prairies, pulses in Saskatchewan got a much timely shot in the arm with recent rainfall, according to Carl Potts, executive director of Saskatchewan Pulse Growers. “I think pulse crops have benefitted from the rains we’ve had over the last two or three weeks here in the province,” he […] Read more
U.S. grains: Corn, soy drop; soyoil limit-down
Spring wheat futures guide wheat markets lower
Chicago | Reuters — U.S. corn and soybean futures eased and soyoil futures plunged by their daily trading limit on Friday on concerns about demand for renewable fuel feedstocks after news the White House was considering offering fuel refiners relief from biofuel blending mandates. The Reuters report that the U.S. Environmental Protection Agency was pondering […] Read more
ICE weekly outlook: Canola market pits weather against supplies
MarketsFarm — As dry conditions remained prevalent across the Canadian Prairies and U.S. northern Plains, despite recent precipitation, the markets were in a struggle between the weather and tightening supplies, according to Winnipeg analyst Wayne Palmer of Exceed Grain. So far for the week of June 7, central and northern Alberta received rain, followed by […] Read more
CBOT weekly outlook: Wet weather pressures markets ahead of USDA report
MarketsFarm — After hot and dry weather sent corn and soybean prices climbing higher in early June, much-needed rains brought bids down at the Chicago Board of Trade on Wednesday. Weather accounted for “90 per cent” of the pricing influence, according to Sean Lusk, vice-president of the commercial hedging division for Walsh Trading in Chicago. […] Read more
Drought conditions improve in May for some of Prairies, not all
MarketsFarm — Significant precipitation through May relieved drought conditions across parts of the Prairies, while other areas remained significantly dry, according to the latest assessment from the Canadian Drought Monitor as of May 31. This precipitation improved soil moisture conditions for the short-term, decreasing the area of moderate (D1) and severe drought (D2) in central […] Read more
U.S. grains: Soybean futures fall, corn firm ahead of USDA report
CBOT, MGEX July wheats down; K.C. wheat up
Chicago | Reuters — U.S. soybean futures dropped 1.2 per cent on Wednesday, pressured by a round of profit-taking and weakness in the cash market, traders said. Wheat futures also were mostly lower after rain in the northern U.S. Plains eased some concerns about parched soils limiting the size of the crop. Corn futures were […] Read more
Pulse weekly outlook: Manitoba crops emerge despite dry soils
Beans 'tougher than people think'
MarketsFarm — While Manitoba continues to deal with drought conditions in many growing areas, planting of pulses and soybeans is near done and some pulses are starting to emerge. “Pea and fava bean seeding wrapped up a while ago,” said Cassandra Tkachuk, production specialist for Manitoba Pulse and Soybean Growers (MPSG). “Dry bean planting actually […] Read more
U.S. grains: Midwest forecast supports gains in soy, corn
CBOT wheat up, MGEX wheat down
Chicago | Reuters — U.S. corn and soybean futures rose on Tuesday after a government report showed that the condition of crops was worse than expected as a heat wave hit the U.S. Midwest. “Yesterday’s Crop Progress report provided plenty of fodder for the bulls,” Matt Zeller, director of market information at StoneX, said in […] Read more
U.S. grains: Corn, soybeans mixed as traders eye weather
MGEX wheat down off highs on Prairie rains
Chicago | Reuters — U.S. corn and soybean futures ended mixed on Monday, with old-crop contracts easing on some profit taking while new-crop contracts rose on concerns that hot and dry conditions in key growing areas of the U.S. Midwest could threaten crops as they pass through key stages of development, traders said. “Forecasters expect […] Read more
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