Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures weakened on Thursday, retreating from early gains on technical selling after failing to take out the 10-week high hit on Tuesday, traders said. Wheat futures ended little changed, supported by a surprise export deal with China. But traders said more bullish inputs were needed to push prices back […] Read more
U.S. grains: Soybean futures slip on technical sales
U.S. livestock: Cattle futures rise on cash market strength
Reading Time: 2 minutes Chicago | Reuters — U.S. cattle futures firmed for the second day in a row on Thursday, with the most-active December live cattle contract holding support near a two-month peak on strong cash prices. “The cash market has been moving up steadily,” said Don Roose, analyst with U.S. Commodities in West Des Moines, Iowa. “The […] Read more
ICE weekly outlook: Upside limited for canola’s snow boost
Reading Time: < 1 minute MarketsFarm — An unwelcomed early winter storm sent ICE Futures canola contracts higher during the week ended Wednesday, but it will take outside support to sustain a rally, according to industry participants. Snow in Alberta and Saskatchewan and cool and wet conditions in Manitoba slowed harvest operations during the week, with about 60 per cent […] Read more
U.S. grains: Technical selling pushes wheat, corn, soy lower
Reading Time: 2 minutes Chicago | Reuters — U.S. corn, soybean and wheat futures fell on Wednesday on a round of technical selling after posting sharp gains earlier this week, traders said. Wheat fell most, with the benchmark Chicago Board of Trade December soft red winter wheat contract sinking 2.1 per cent, its biggest daily loss since Aug. 30. […] Read more
U.S. livestock: Cattle futures hit highest since Aug. 9
Reading Time: 2 minutes Chicago | Reuters — U.S. livestock futures were mixed on Wednesday, with hog contracts easing for the second day in a row on technical follow-through selling while cattle futures firmed. The most-active December live cattle contract hit its highest in nearly two months. Traders said futures prices for hogs had rallied too sharply compared to […] Read more
CBOT weekly outlook: Corn, soybeans retreat off highs
Reading Time: < 1 minute MarketsFarm — Soybean and corn prices on the Chicago Board of Trade have backed off of highs hit earlier in the week. That’s due mainly to harvest activity putting pressure on prices, according to Steve Georgy, president of Allendale Inc. at McHenry, Illinois. Corn crops across the U.S. are currently only 11 per cent harvested, […] Read more
U.S. grains: Soy tops two-month high on China buying, inventory shock
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures prices rose to the highest level in more than two months on Tuesday, adding to gains from the previous session when Chinese purchases and a lower-than-expected estimate of U.S. stockpiles buoyed prices. Corn also advanced after rallying four per cent on Monday as a quarterly U.S. Department of […] Read more
U.S. livestock: Hogs retreat from Monday’s two-month high
Reading Time: 2 minutes Chicago | Reuters –– U.S. livestock futures fell on Tuesday as hogs retreated from a two-month high reached a day earlier. December lean hog futures sank 2.675 cents to 69.925 cents/lb. at the Chicago Mercantile Exchange (all figures US$). The setback came after the contract reached its highest price since July 31 on Monday amid […] Read more
U.S. grains: Soy, corn rally on smaller-than-expected stockpiles
Reading Time: 2 minutes Chicago | Reuters — China bought more U.S. soybeans on Monday as the U.S. Department of Agriculture reported crop stockpiles were smaller than traders expected, sending futures prices to nine-week highs. Corn futures set an eight-week high after the USDA report also showed tighter-than-expected inventories of the yellow grain. Farmers welcomed the rallies after crop […] Read more
U.S. livestock: Hogs up on technical buying, demand hopes
Reading Time: 2 minutes Chicago | Reuters — U.S. hog futures touched a two-month high on Monday on technical buying and hopes for more export sales to China, brokers said. Traders are waiting for confirmation of Chinese buying as the Asian nation is struggling with an outbreak of African swine fever, a fatal pig disease that has decimated its […] Read more
A message from April Stewart, Country Guide's Associate Editor
