Reading Time: < 1 minute CNS Canada — ICE Futures Canada canola contracts ran into some major resistance over the past week before turning lower, with more downside possible as seasonal trends should weigh on values. “Seasonally speaking, we’re in the neighborhood where canola makes the turn down,” said Mike Jubinville of ProFarmer Canada, noting canola typically sees some softness […] Read more
ICE weekly outlook: Seasonals to weigh on canola
U.S. grains: Corn, soy sag on renewed U.S.-China trade tension
Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures fell about 1.5 per cent on Tuesday, with the front contract at times dropping below US$4 a bushel as U.S. trade tensions with China re-emerged, analysts said. Wheat turned lower after climbing to multi-month highs, and soybeans also slipped. Chicago Board of Trade July corn settled down six […] Read more
U.S. grains: Wheat rallies on dry weather fears
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures jumped more than two per cent on Friday and ended the week up nearly five per cent as worries about dry weather in key global production regions fueled short-covering and speculative buying. Soybeans advanced for the fifth time in six sessions on renewed Chinese buying of U.S. export […] Read more
OIE declares Brazil free of foot-and-mouth, with vaccination
Reading Time: 2 minutes Paris | Reuters — The World Organization for Animal Health (OIE) declared Brazil free of foot-and-mouth disease (FMD) with vaccination on Thursday, opening new export prospects for the world’s largest beef exporter. The OIE already considered most of Brazil to be free of FMD with vaccination. The declaration, which the government had been expecting since […] Read more
U.S. grains: Wheat hits 10-month high on weather, turns lower
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures eased from 10-month peaks on Thursday as profit-taking eroded early gains stemming from dry weather in the U.S. Plains and other major growing areas around the world. Soybeans slipped from three-week highs as hedge-related selling offset earlier support from signs of renewed export demand from top buyer China. […] Read more
ICE weekly outlook: Weather, U.S./China relations influence canola
Reading Time: 2 minutes CNS Canada — Traders’ attention at the ICE Futures Canada canola market has now turned to western Canadian weather and news south of the border. While there was a reprieve from the drought over the last week, with rain falling in parts of Western Canada, large areas missed out on the moisture. More rain is […] Read more
Pulse weekly outlook: Large U.S. crop possible, despite reduced acres
Reading Time: 2 minutes CNS Canada — Farmers in the U.S. may have planted fewer pulse acres in 2018 compared to the previous year — but the reduction was likely not as large as forecast by the U.S. Department of Agriculture. A return to average yields would also still result in big supplies overall, after poor crops in 2017, […] Read more
China signals to state giants: ‘Buy American’ oil and grains
Reading Time: 3 minutes Singapore/Beijing | Reuters –– China will import record volumes of U.S. oil and is likely to ship more U.S. soy after Beijing signalled to state-run refiners and grains purchasers they should buy more to help ease tensions between the two top economies, trade sources said on Wednesday. China pledged at the weekend to increase imports […] Read more
CBOT weekly outlook: Soy poised for move higher, waiting on China
Reading Time: < 1 minute CNS Canada — Soybean contracts on the Chicago Board of Trade could be poised to rally, if and when China and the U.S. reach an agreement over trade issues. According to Terry Reilly, a senior commodity analyst with Futures International in Chicago, people are starting to get excited over rumours a deal may be close. […] Read more
U.S. grains: Soybeans climb on hopes for renewed demand from China
Reading Time: 2 minutes Chicago | Reuters –– U.S. soybean futures scaled to a 2-1/2-week high on Wednesday as signs of renewed Chinese demand for U.S. exports lifted prices for a fourth straight session. Corn reached a 9-1/2 month peak on concerns about planting and early crop development due to adverse weather, while wheat extended prior-session gains as dry […] Read more
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