Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures firmed on Wednesday as a drop to 15-month lows in the previous session sparked technical buying and short covering, and as traders took positions ahead of key U.S. government crop reports, traders said. Corn was mixed and soybeans edged higher, underpinned by concerns about weather-reduced crops in South […] Read more
U.S. grains: Futures firm ahead of USDA crop data
Wheat up on technicals, short covering; corn mixed, soybeans firm on Argentine drought concerns
ICE weekly outlook: Sideways canola market watching macros
USDA report may offer nearby direction
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts remain stuck in a sideways trading range to start the New Year, with bearish outside forces countered by relatively supportive fundamentals. From a chart standpoint, March canola is stuck in a sideways range between $800 and $900, with little to suggest a break one way or the other for […] Read more
CBOT weekly outlook: USDA ‘data dump’ due next week
'Minor changes' expected for corn, soy
Reading Time: 2 minutes MarketsFarm — A flurry of reports is coming from the U.S. Department of Agriculture (USDA) on Jan. 12, including its monthly supply and demand estimates, quarterly grains stocks report and winter wheat planting report, among others. Futures International analyst Terry Reilly said the multitude of the reports coming out that Thursday will essentially be a […] Read more
CBOT weekly outlook: U.S. winter wheat to feel the cold
Crop off to 'a really bad start'
Reading Time: 2 minutes MarketsFarm — With frigid weather coming out of the Arctic, across the Canadian Prairies and into the U.S., there has been an upswing in wheat prices at the Chicago Board of Trade (CBOT). Prior to Christmas Day, temperatures are expected to fall as cold as -40 C in the northern Plains to below freezing in […] Read more
Large gap between StatCan, USDA canola estimates
USDA sticks closer to StatCan expectations on wheat
Reading Time: 3 minutes MarketsFarm — There’s a significant difference in the amount of canola grown in Canada during 2022-23, in the estimate from Statistics Canada (StatCan) compared to that from the U.S. Department of Agriculture (USDA). Earlier in December, StatCan’s survey-based production of principal field crops report pegged this year’s canola harvest at 18.17 million tonnes. That’s a […] Read more
USDA supply/demand estimates show only minor updates
Reading Time: < 1 minute MarketsFarm — Updated supply-and-demand (WASDE) tables from the U.S. Department of Agriculture included only minimal adjustments to the U.S. and world numbers, with larger revisions likely in the New Year. U.S. soybean and wheat ending stocks projections for the current marketing year were left unchanged, while the corn number was raised slightly. Total U.S. corn […] Read more
U.S. grains: Soybeans climb to 2-1/2 month highs on strong exports
Wheat eases on disappointing exports
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean futures climbed on Thursday, supported by strong export demand, pushing the oilseed to nearly three-month highs. Wheat traded near even after Wednesday’s rebound from a one-year low, although prices remained capped by competition from record high Russian supplies. Corn followed soybeans higher. Movements in grains were limited as traders […] Read more
CBOT weekly outlook: Soy futures find support, but upside limited
Corn activity mainly bearish
Reading Time: < 1 minute MarketsFarm — Solid export demand, a short squeeze by fund traders and production uncertainty in South America have all propped up Chicago soybean futures over the past week, with more gains possible ahead of the year-end before correcting lower, according to an analyst. With the South American harvest still some time away, “you might have […] Read more
U.S. avian flu outbreak of 2022 wipes out record number of birds
Vast majority of caseload originated with wild birds: USDA
Reading Time: 2 minutes Chicago | Reuters — Avian flu has wiped out 50.54 million birds in the United States this year, making it the country’s deadliest outbreak in history, U.S. Department of Agriculture data showed Thursday. The deaths of chickens, turkeys and other birds represent the worst U.S. animal-health disaster to date, topping the previous record of 50.5 […] Read more
CBOT weekly outlook: Cordonnier sees little change in U.S. corn, soy yields
Reading Time: 2 minutes MarketsFarm — As corn and soybean harvests in the United States wrap up for 2022-23, one analyst believes there will be little change in the yields determined by the U.S. Department of Agriculture (USDA). Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. at Hinsdale, Ill. said USDA’s November call of 172.3 bushels per acre […] Read more
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