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Soybeans

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Crops, Markets, Reuters, Soybeans

Drought curtails Argentina’s latest ‘soy dollar’ scheme

Soy supply 'a very different situation' now

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Reading Time: 2 minutes Buenos Aires | Reuters — Farmers participating in Argentina’s “soy dollar” plan to boost exports have traded less than half of the soybeans they had traded at the same point during the previous plan, due to the impact of a drought, the Rosario grains exchange said on Friday. The Argentina government launched its latest “soy […] Read more
CBOT May 2023 corn with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn continues climb, closes higher for fourth week

Traders watching cooler weather in U.S. southern Plains

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Reading Time: < 1 minute Mexico City | Reuters — Chicago corn futures settled higher on Friday, making the fourth straight week of gains, after a week of flash sales to China and demand for ethanol processing. Soybeans closed lower, ending a gains streak since late March, as a record Brazilian harvest tempered concern about drought losses in Argentina. The […] Read more
File photo of a soybean field in Argentina. (Federico Weyland/iStock/Getty Images)
Crops, Markets, Reuters, Soybeans, Weather

Vast tracts of drought-hit Argentine soy fields seen going unharvested

Yet more cuts to production possible

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Reading Time: < 1 minute Buenos Aires | Reuters — Argentina’s Buenos Aires grains exchange on Thursday said farmers would likely leave large tracts of soy fields unharvested due to damage from a historic drought, which could lead to more cuts to its 25 million-tonne production forecast. Argentina is the world’s top exporter of soybean oil and meal, but its […] Read more
CBOT May 2023 corn with 20-day moving average (green line) and July 2023 corn (orange line). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Chicago grains close lower as weather improves

USDA reports flash corn sale to China

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Reading Time: 2 minutes Mexico City | Reuters — Chicago grains futures reversed earlier gains to close lower on Thursday, as weather improved and despite Russia saying there would likely be no extension of the wartime grains corridor deal, analysts said. Soybeans lost ground from their earlier rally as weather in the Northern Hemisphere looked clearer. “U.S. weather is […] Read more
ICE November 2023 canola with Bollinger bands (20,2) and May 2023 canola (black line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: New-crop November canola set to step back

StatCan not expected to sway futures much

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Reading Time: < 1 minute MarketsFarm — There is presently little upside to new-crop November canola on ICE Futures, according to analyst Errol Anderson of ProMarket Communications in Calgary. Anderson pointed to losses in Malaysian palm oil and weakness in China’s soymeal market as weighing on ICE canola values, with more pressure coming out of South America. “The [soybean] production […] Read more
An aerial file photo of flooding in the Red River Valley near Rosenort, Man. in May 2022. (Manitoba Co-operator photo by Allan Dawson)
Crops, Markets, Weather

CBOT weekly outlook: Weather in focus for Chicago grains, oilseeds

Heavy snowpack remains in parts of northern Plains

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Reading Time: < 1 minute MarketsFarm — All eyes in the Chicago grain and oilseed markets are focused on weather conditions as the South American harvest progresses and North American farmers begin seeding their next crop. The U.S. Department of Agriculture’s monthly supply/demand report (WASDE), released Tuesday, left ending stocks projections for both soybeans and corn in the country unchanged […] Read more
CBOT May 2023 soft red winter wheat with 20-day moving average, MGEX May 2023 hard red spring wheat (yellow line) and K.C. May 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago grains up after jumpy day of Black Sea concerns

Markets await U.S. export sales data on Thursday

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Reading Time: < 1 minute Mexico City | Reuters — Chicago grains futures closed higher Wednesday, after a mixed day underpinned by renewed Russian criticism of the deal allowing Ukraine to export grain from Black Sea ports. Soybean and corn futures settled up, regaining some ground lost earlier in the session amid a bumper soy harvest in Brazil and an […] Read more
(OceanFishing/iStock/Getty Images)
Crops, Markets

USDA stands pat on U.S. soybean, corn ending stocks

Soy, corn crop projections cut for Argentina

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Reading Time: < 1 minute MarketsFarm — Projected ending stocks for soybeans and corn in the United States for the current marketing year were left unchanged by the U.S. Department of Agriculture in its latest monthly supply/demand report (WASDE) — coming as a surprise to market participants who had generally anticipated downward revisions to the carryout numbers. USDA left 2022-23 […] Read more
CBOT May 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago soy stronger on predictions for Argentina crop

Black Sea supply a risk as Russia challenges corridor deal

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Reading Time: 2 minutes Mexico City | Reuters — Chicago soybean futures settled higher on Tuesday after the U.S. government slashed its estimate for production in Argentina to a 23-year low in a monthly report. Soybean production in Argentina will be smaller than previously thought at 27 million tonnes as a crop-wasting drought decimated fields in the key South […] Read more
(File photo by Dave Bedard)
Canola, Crops, Markets

Canola fund short position shrinking

Managed money is net long on corn, soy

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Reading Time: < 1 minute MarketsFarm — Managed money fund traders continued to cover their large short positions in canola in early April, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of April 4, the net managed money short position in canola futures came in at 49,470 contracts (70,671 short; 21,201 […] Read more

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