Reading Time: 2 minutes Chicago corn futures extended gains on Tuesday on short-covering and U.S. crop condition questions, while soybean prices also turned higher on technical trading and unfavorable weather in some soybean growing areas of the central U.S., traders said.
U.S. grains: Corn, soy futures rise on technical trading, weather questions
CBOT Weekly: Futures predicted to decline after USDA reports
Reading Time: 2 minutes Grain futures at the Chicago Board of Trade (CBOT) are expected to decline after the United States Department of Agriculture (USDA) releases its prospective plantings and quarterly grain stocks reports on June 28.
Prairie Wheat Weekly: Prairie wheat bids trend lower with U.S. futures
Reading Time: 2 minutes Spring wheat bids in Western Canada fell sharply lower during the week ended June 13, seeing a continuation of the previous week’s declines as losses in the United States futures weighed on values. Average Canada Western Red Spring (13.5 per cent) wheat prices were down by C$16.00 to C$18.40 per tonne across the Prairies, according […] Read more
Strategie Grains cuts EU wheat crop forecast as harvesting starts
Reading Time: 2 minutes Paris | Reuters – Strategie Grains lowered its monthly forecast for this year’s soft wheat crop in the European Union, confirming its expectation for a four-year low in production as harvesting gets under way. The consultancy now sees 2024/25 soft wheat production in the 27-country bloc at 121.8 million metric tons, 1.7 million tons less […] Read more
USDA cuts Russian wheat crop estimate after damaging frosts
Reading Time: < 1 minute Chicago | Reuters – The U.S. Department of Agriculture cut its forecasts for Russian wheat production and exports on Wednesday, after Moscow declared federal emergencies over crop losses due to unfavourable weather. Increasing concerns about damage from drought and frosts in Russia, the world’s biggest wheat supplier, drove Chicago board of Trade wheat futures to 10-month highs in May […] Read more
Fund short position grows in canola
Reading Time: < 1 minute Fund traders were back on the sell side of the canola market in early June, putting on fresh bearish bets and growing their net short position, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC). As of June 4, 2024, the net managed money short position in […] Read more
CBOT Weekly: Selling, crop conditions drive price drops
Reading Time: 2 minutes Wheat prices led the way as the July Chicago contract fell 46 cents per bushel at US$4.46. The July Kansas City hard red wheat contract dropped 43.5 cents at US$6.7625/bu., while the July Minneapolis spring wheat contract lost 39.5 cents at US$7.1250/bu.
CBOT Weekly: Spring wheat poised for good conditions
Reading Time: 2 minutes Planting of the spring wheat in the United States continues to be off to an excellent start, according to Tom Lilja of Progressive Ag in Fargo. Meanwhile, the heavy rains that fell as of May 21 are very likely to lead to less corn being seeded with U.S. farmers switching to soybeans.
CBOT weekly: Traders watching out for weather concerns
Reading Time: 2 minutes United States wheat futures rose sharply during the week ended May 15, while corn and soybean futures at the Chicago Board of Trade (CBOT) were in a rangebound, up-and-down pattern.
Prairie wheat bids climb with U.S. futures
Reading Time: 2 minutes Spring wheat bids in Western Canada climbed higher during the week ended April 25, as a rally in United States futures provided support. Chart-based speculative buying was behind much of the strength in the futures, as fund traders bought back some of their large net short position. Declining crop ratings for U.S. winter wheat, the […] Read more
A message from April Stewart, Country Guide's Associate Editor
