North American Grains and Oilseeds Review: G20 optimism pushes markets higher

By Ashley Robinson, Commodity News Service Canada
Winnipeg, Nov. 28 (CNS Canada) – The ICE Futures canola platform were stronger at market close, finding spillover support from the soybean market.
Chicago Board of Trade soybean, oil and meal contracts were all higher too, with soyoil up more than half a cent per pound.
Oilseed traders are still awaiting the results of the meeting between United States President Donald Trump and Chinese President Xi Jinping at the G20 summit this week. There was optimism today though that the meeting will result in good news, which pushed the soy complex higher.

North American grain/oilseed review: Canola ends lower after choppy day

Glacier FarmMedia — The ICE Futures canola market was weaker on Monday, settling below nearby chart support after trading to…

The Canadian dollar was back up above the 75 U.S. cents mark at canola market close after being below it earlier in the day. The lower dollar had been supportive for canola, with contracts up even higher earlier today.
About 34,811 canola contracts traded, which compares with Tuesday when 20,796 contracts changed hands. Spreading accounted for 24,152 of the contracts traded.
In the U.S. markets the U.S. Department of Agriculture (USDA) announced a flash sale of 268,748 tonnes of soybeans to unknown destinations for the 2018/19 crop year this morning.
Soybean planting in Brazil is estimated to be at 89 per cent complete, which is ahead of the five-year average of 78 per cent. And the fast pace should continue as favorable weather is forecast for the next two weeks in Brazil.

CBOT corn prices finished the day in the green.
Ethanol production in the U.S. was at 1.048 million barrels per day last week, which was up 7,000 barrels per day. Stocks are at 22.9 million barrels, which is slightly higher than the previous week.
Algeria has issued a tender for 120,000 tonnes of corn from Argentina, for December shipment.
There is another storm headed for the U.S. Midwest this weekend which will cause delays for any farmers still trying to finish harvest or do fall fieldwork.
Wheat futures in the U.S. finished the day stronger.
Wheat futures are finding some support from reports of the storms moving into the Midwest which could harm the winter wheat crop.
U.S. wheat export inspections are running 19 per cent behind last year at this time.
USDA weekly export inspections for wheat fell to 9.2 million bushels, which was well off the pace of the past few weeks.
SovEcon has upped its Russian wheat export forecast to 34.7 million tonnes, which is 500,000 tonnes higher than its previous estimate.