Reading Time: 2 minutes U.S. corn and soybean futures hovered near three-year lows on Friday as South American crop weather improved and forecasts called for plentiful supplies, but losses were limited by short covering ahead of the weekend.
Cereals
U.S. grains: Soybeans, corn stuck near 3-year lows on abundant supplies
Wheat futures higher on bargain buying, short covering
More grain ships diverted from Red Sea due to Houthi attacks
Air strikes, naval forces not enough to end attacks on ships, trader says
Reading Time: 2 minutes More ships carrying grain were diverted from the Suez Canal to sailings around the Cape of Good Hope this week as concern about attacks on vessels in the Red Sea continued, shipping analysts said on Friday.
Prairie wheat weekly outlook: Prices down, especially for durum
Weaker Canadian dollar lends support, K.C., Chicago and Minneapolis wheat put pressure on prices
Reading Time: 2 minutes Wheat prices across the Canadian Prairies pulled back during the week ended Feb. 8. While there were moderate declines in Canadian Western Red Spring Wheat and Canada Prairie Red Spring Wheat, there were sharper losses for Canadian Western Amber Durum.
Feed grain weekly outlook: Ample supplies pushing down prices
Livestock feeders well covered with U.S. corn, pressuring prices
Reading Time: 2 minutes Due to good supplies, prices for feed barley and wheat continued to slide back, according to Jim Beusekom of Market Place Commodities in Lethbridge, Alta.
U.S. grains: Soybeans turn higher, grains lower, on raft of government data
Falling Russian prices weigh over wheat futures; U.S. poised to regain title of top corn exporter
Reading Time: 2 minutes Chicago Board of Trade soybean futures ended the day higher on Thursday on a flurry of late-session buying, as the market struggled to gain clarity on the size of the Brazilian crop, traders said.
USDA raises U.S. carryout, tightens Brazilian production
World wheat carryout estimate downgraded, but well above previous year
Reading Time: 2 minutes Projected ending stocks of soybeans, corn and wheat in the United States were raised slightly higher in the latest supply/demand estimates from the United States Department of Agriculture, while production estimates for Brazil were revised lower.
Less Canadian wheat, more canola on hand to end 2023: StatCan
Some had anticipated even larger on-farm canola stocks, given slower export pace
Reading Time: 2 minutes Canadian wheat stocks at the end of 2023 were considerably tighter compared to the previous year, with oats, corn and pulse crops also seeing supply reductions, according to the latest stocks report from Statistics Canada, released Feb. 8, 2024. However, canola, barley and soybean stocks as of Dec. 31, 2023, were higher compared to the previous year.
U.S. grains: Corn, soybeans touch new multi-year lows on grain glut worries
Easing heat wave in Argentina tempers crop worries
Reading Time: 2 minutes Chicago corn prices dipped to a new three-year low on Wednesday, as weather charts showed a hot, dry spell in Argentina will give way to widespread rain in the coming days, traders said.
Canadian grain exports a mixed bag in December
Top three canola importers bought less, U.S. bought more
Reading Time: 2 minutes While Canada’s canola exports fell back so far this marketing year compared to last year, those for wheat were up, according to the Canadian Grain Commission. Released on Feb. 7, the monthly export report took Canada’s exports for cereals, oilseeds and pulses to the end of December.
USDA attaché sees improvement in Argentina wheat, corn
Recent hot spell in Argentina may have eroded potential corn yields
Reading Time: < 1 minute Ahead of the February supply and demand estimates from the United States Department of Agriculture, the department’s attaché in Buenos Aires issued their grain and feed update on Argentina.