GFM Network News

USDA raises corn harvest view

Reading Time: 2 minutes Washington | Reuters — The U.S. Agriculture Department on Friday boosted its estimate of domestic corn production due to a record yield that stemmed from bumper harvests in major growing states such as Illinois as well as some of the smaller production areas. USDA also trimmed its view of soybean production, although the 2017 crop […] Read more

ICE weekly outlook: Canola rangebound, watching harvest

Reading Time: < 1 minute CNS Canada — Canola futures moved steadily higher over the course of the week ended Wednesday, but remain firmly entrenched in a sideways trading range as seasonal harvest pressure continues to limit the upside. “Most of the markets are still just killing time… everybody is just monitoring things to see where they go next,” said […] Read more

Manitoba soybean acres seen rising on record yields

Reading Time: 2 minutes CNS Canada –– Soybean acreage looks set to increase next year in Manitoba due to good yields and prices. The expansion comes despite the fact the province is overdue for a killing frost and U.S. acreage is set to grow. “This year we had just over 1.6 million acres planted. Early projections call for two […] Read more

StatsCan confirms drought impact on Ontario yield

Reading Time: 3 minutes Statistics Canada has confirmed what most farmers in Ontario knew this past summer: Hot and droughty conditions drove production of corn and soybeans almost 10 per cent lower than 2015 levels. StatsCan’s harvest report, released this week, also showed the large wheat crop in Ontario was a record, with a 56 per cent increase in […] Read more

U.S. soybean production gains outpace rising demand

Reading Time: 2 minutes Washington | Reuters — Record demand for soybeans has paled in comparison to the expected sharp gains in supply, which will leave U.S. farmers and commercial operators with a growing stockpile of the oilseed even as exports and crushings continue to rise. The U.S. Agriculture Department on Monday raised expected demand for U.S. soybeans during […] Read more

USDA grains report catches speculators leaning wrong way

Reading Time: 2 minutes Washington | Reuters — Grains market speculators who had built massive short positions in recent months were caught leaning the wrong way after the U.S. government cut its corn and soy harvest views, as well as its wheat planting estimate, in reports released on Tuesday. Although the overall fundamental picture remains bleak, the bearish bets […] Read more

USDA’s corn, stocks view misses forecasts; prices surge

Reading Time: 2 minutes Washington | Reuters — U.S. corn and soybean supplies ballooned to record levels during the last three months of 2015 following bountiful harvests of both commodities and cutbacks in usage, according to government data released on Tuesday. But grain stocks lagged market forecasts, and corn and soybean production was smaller than previously estimated, the U.S. […] Read more