Reading Time: 2 minutes The seasonal slowdown in the North American grain and oilseed markets has traders in the Chicago futures taking direction from shifting weather forecasts out of South America, with technical chart signals also at play in the futures heading into the New Year.
U.S. grains and oilseeds trading South American weather/charts
Wheat rallied around Chinese purchases, soybeans came under pressure
Net fund short position edges down in canola
CBOT fund traders were liquidating some large net long positions in soybeans
Reading Time: < 1 minute Fund traders were buying back some of their large net short position for the fourth week in a row in late-November, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Australian crops improve, but well off recent records
Winter crop harvest reportedly progressing quicker, earlier than recent years
Reading Time: < 1 minute Australia’s winter crop production likely beat earlier expectations but will still be down considerably compared to the record-large production in recent years, according to the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).
Canadian spring wheat bids mixed following choppy U.S. futures
The Canadian dollar was up nearly two-thirds of a cent on its U.S. counterpart
Reading Time: 2 minutes Spring wheat bids in Western Canada were mixed during the week ended Nov. 1, as futures in the United States hit contract lows before bouncing higher and strength in the Canadian dollar cut into basis levels.
Feed weekly outlook: Corn imports, larger crop prospects pressure barley
StatCan expected to raise barley crop estimate
Reading Time: 2 minutes MarketsFarm — The feed barley market in Western Canada remains relatively flat as steady corn imports from the U.S. keep domestic feeders well supplied. Ideas that Canadian production ended up above earlier expectations were also keeping a lid on the domestic market. Delivered barley into the Lethbridge, Alta. area is currently priced in the $300-$320 […] Read more
Pulse weekly outlook: Green lentils show strength, reds lag
Green lentil sales limited as farmers bullish
Reading Time: 2 minutes MarketsFarm — Green lentil bids in Western Canada are trading at their highest levels of the past year, with solid new-crop pricing opportunities already becoming available. Spot bids for large green lentils can currently be found in the 60 to 72 cents/lb. area, according to Prairie Ag Hotwire data, with new-crop contracts hitting 50 cents […] Read more
Canadian farm cash receipts rise in 2022, but so do inputs
Reading Time: 3 minutes MarketsFarm – Canadian farmers brought in more money in 2022 compared to the previous year, but their expenses were also up resulting in a 7.7 per cent drop in realized net income to $11.8 billion, according to the latest farm income data from Statistics Canada. Data for the first three quarters of 2023 shows another […] Read more
Speculators buy back bearish canola bets in latest report
Funds reduce net long in soybeans
Reading Time: < 1 minute MarketsFarm — Fund traders were actively covering bearish bets in canola during the week ended Nov. 21, buying back some previously placed short positions, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). The report was delayed due to the U.S. Thanksgiving holiday. As of Nov. 21, 2023, […] Read more
ICE weekly outlook: Purely technical canola market trending up
Activity expected thin until next week
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market moved within a wide range during the week ended Wednesday, hitting some of its best levels in a month before running into resistance at the highs. With traders in the United States moving to the sidelines for the U.S. Thanksgiving holiday, activity should be thin and choppy until […] Read more
Large speculative short position in canola dips slightly
Net long in CBOT soybeans increases
Reading Time: < 1 minute MarketsFarm — The large managed money short position in canola futures dipped slightly during the week ended Nov. 14, as speculators bought back some of their bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Nov. 14, the net managed money short position in […] Read more
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