Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures fell more than five per cent on Thursday on profit-taking after recent multi-year highs and follow-through selling, a day after the U.S. Department of Agriculture forecast larger-than-expected domestic stocks, analysts said. Soybean and wheat futures fell sharply, also retreating from multi-year highs. “Today is all about a long […] Read more
U.S. grains: Corn limit-down on profit-taking, bearish USDA data
Chicago soybeans, wheat follow
Feed weekly outlook: Falling futures suggest first cracks in lofty market
Reading Time: < 1 minute MarketsFarm — A sharp drop in corn and wheat futures prices at the Chicago Board of Trade over the past week could be the sign of the first cracks in the western Canadian feed grain market. That said, tight supplies and uncertainty over new-crop grain production remain supportive. “With the move on the futures market […] Read more
U.S. livestock: Live cattle futures end mixed
Feeder cattle rise as corn prices falter
Reading Time: 2 minutes Chicago | Reuters — U.S. live cattle futures closed mixed on Wednesday, with the benchmark June contract easing in a light round of profit-taking while robust beef prices continued to underpin the market, traders said. Chicago Mercantile Exchange June live cattle futures settled down 0.025 cent at 118.6 cents/lb., retreating after a climb to 119.425 […] Read more
ICE weekly outlook: Rain needed to bolster canola crop
Reading Time: < 1 minute MarketsFarm | Rain — specifically, the lack thereof — is quickly becoming the key issue for canola values, according to Ken Ball of PI Financial in Winnipeg. Until now, dry conditions across much of the Prairies have not been much a factor in canola prices, he said. “We’ve got to get some rain in a […] Read more
CBOT weekly outlook: Markets react to WASDE
Reading Time: < 1 minute MarketsFarm — Trading at the Chicago Board of Trade (CBOT) was mostly affected by the release of the U.S. Department of Agriculture’s supply and demand estimates (WASDE) released earlier today. Corn, wheat and soybeans were all projected for greater worldwide production in the 2021-22 crop year compared to the previous year. Worldwide corn production is […] Read more
U.S. grains: Soybeans reach highest since 2012 on supply woes
Corn, wheat down on WASDE report
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures set an 8-1/2-year high on Wednesday after a key U.S. government crop report projected that supplies of the oilseed would remain tight even after the 2021 U.S. harvest. Soaring CBOT soybean oil futures lent support, with the thinly traded May soyoil contract reaching 72.32 cents/lb., an all-time high […] Read more
U.S. livestock: CME live cattle extend rally as beef prices climb
June hogs down third straight day
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose on Tuesday for a fifth straight session, led by high-flying wholesale beef prices, analysts said. Feeder cattle futures also advanced but gains were muted as corn futures rallied, signaling higher costs to bring cattle up to market-ready weight. CME June live cattle futures settled […] Read more
U.S. grains: Soy futures top $16 for first time since 2012
Chicago corn, wheat also end higher
Reading Time: 2 minutes Chicago | Reuters — Benchmark U.S. soybean futures jumped above US$16 a bushel on Tuesday for the first time since 2012 as traders focused on tightening feed grain supplies and dry weather in Brazil’s corn belt, traders said. Corn and wheat futures also posted sharp gains, with nearby contracts leading the way up. A weaker […] Read more
U.S. livestock: CME cattle gain as demand remains strong
Lean hogs down for second session
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange cattle futures gained on Monday as cattle processing picked up, led by strong beef prices, while feed cattle gained on tight supplies and a lower corn trade, analysts said. CME June live cattle futures added 2.2 cents to 118.225 cents/lb., while August feeder cattle futures finished 4.425 cents […] Read more
U.S. grains: Corn, soy, wheat dip ahead of WASDE
Market eyes U.S. supply-demand reports for price direction
Reading Time: 2 minutes Chicago | Reuters — Chicago corn futures fell on Monday, pausing after rallying to eight-year highs last week, with traders focusing on the U.S. Department of Agriculture’s upcoming world supply-demand (WASDE) report for new price direction. Wheat dipped, supported by beneficial rains across the U.S. Great Plains, while soybeans traded mixed on continued tight supplies. […] Read more
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