Reading Time: 3 minutes Jakarta | Reuters — Indonesia, the world’s top palm oil producer, announced plans to ban exports of the most widely used vegetable oil on Friday, in a shock move that could further inflame surging global food inflation. The halting of shipments of the cooking oil and its raw material, widely used in products ranging from […] Read more
Indonesia bans palm oil exports as global food inflation spikes
Government under pressure to control cooking oil prices
Feed weekly outlook: U.S. corn imports getting expensive
Reading Time: < 1 minute MarketsFarm — As barley and wheat supplies for feed remain tight, demand for corn imports from the U.S. remains strong — but a rally in corn over the last couple of weeks is putting strain on the market, according to Brandon Motz of CorNine Commodities at Lacombe, Alta. “It is definitely deterring sales and/or purchases […] Read more
U.S. grains: Corn, wheat retreat from recent highs
Soybean futures edge higher
Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures fell on Thursday on disappointing weekly U.S. export sales data and a round of profit-taking after multi-year highs set this week, analysts said. Wheat futures also fell, retreating from recent six-week highs, while soybean futures inched higher, supported by export demand for U.S. supplies and spillover strength from […] Read more
ICE weekly outlook: Trend remains pointed higher for canola
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market climbed to fresh contract highs once again during the week ended Wednesday, although profit-taking at those highs did slow the advances. While additional corrections are possible, both the underlying fundamentals and technical remain supportive. “This is the bull market of all time in canola,” said analyst Mike Jubinville […] Read more
U.S. grains: Soybeans climb on export optimism
Chicago wheat eases on profit-taking
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean futures rose on Wednesday, with the July contract hitting a two-month high on optimism about export demand for U.S. supplies of the oilseed, analysts said. Corn followed soybeans higher, with front contracts leading the way up in both markets. But wheat futures fell on profit-taking, easing a day after […] Read more
CBOT weekly outlook: Traders look to skies for market guidance
Reading Time: 2 minutes MarketsFarm — Much of the focus from the Chicago Board of Trade (CBOT) for the week ended Wednesday has shifted away from besieged Ukraine — and toward areas closer to home. Prices for nearby corn and soybean contracts rose over the past week due to weather-related rallies, but wheat prices held rangebound. The U.S. northern […] Read more
U.S. grains: Corn pulls back after reaching decade high
Wheat also gives up gains amid profit-taking, traders say
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn futures ended lower on Tuesday, consolidating below a decade high reached earlier, as traders assessed risks to global supply from the war in Ukraine and a slow start to planting in the U.S. Wheat futures also weakened, with profit-taking pressuring the markets, traders said. The July […] Read more
Pulse weekly outlook: No worries about delayed planting in Manitoba
'Farmers can get stuff in pretty quick'
Reading Time: < 1 minute MarketsFarm — Despite an influx of snow across southern Manitoba, with more precipitation in the forecast for this week, a provincial pulse specialist isn’t too concerned about the potential for late planting of pulse crops. “The moisture is welcome, but it’s not the weather we would like to see at this time of the year. […] Read more
U.S. grains: Corn futures above $8 on supply concerns
Ukraine war continues disrupting Black Sea grain exports
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn futures topped US$8 a bushel and reached their highest price in nearly a decade on Monday on concerns over unfavourable U.S. weather slowing plantings and the Ukraine war disrupting grain exports. Traders worry chilly weather hampering plantings this spring could potentially contribute to lower yields come […] Read more
U.S. grains: Corn climbs on global supply fears
Wheat down on profit-taking; Argentina trucker strike supports soy, corn
Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures hit life-of-contract highs on Thursday, supported by tightening global grain supplies and an uncertain production outlook as the Russia-Ukraine war continued to rattle markets, analysts said. However, trade was choppy and deferred corn contracts finished lower as traders took profits ahead of a three-day holiday weekend. U.S. markets […] Read more
A message from April Stewart, Country Guide's Associate Editor
