Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade soybean futures rose on Thursday, snapping a three-session losing streak as a wave of bargain buying hit the market after prices sank to their lowest in 6-1/2 months, traders said. Corn and wheat futures fell, with poor demand for U.S. supplies pushing prices toward lows hit earlier […] Read more
U.S. grains: Bargain buying pulls soy up off lows
CBOT wheat, corn weak
CBOT weekly outlook: Traders, analysts anticipate WASDE report
El Nino also worth watching longer-term
Reading Time: 2 minutes MarketsFarm — While traders and analysts continue to keep an eye on weather conditions, their collective focus will momentarily shift on Friday when the U.S. Department of Agriculture (USDA) releases its monthly world agricultural supply/demand estimates (WASDE). This month’s report will be highly significant as it will announce the first U.S. crop production estimates for […] Read more
U.S. grains: Corn futures firm; wheat, soybeans lower
Black Sea deal concerns supportive for wheat
Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures rose on Wednesday, their fifth day of gains in the last six sessions, on signs of strength in the cash market, traders said. Soybean futures ended lower as the market faced pressure from weakness in the crude oil market, as well as a fast pace of planting in […] Read more
Latest StatCan stocks report ‘least important of them all’
Wheat, canola numbers not expected to have significant impact on markets
Reading Time: 2 minutes MarketsFarm — For MarketsFarm Pro analyst Mike Jubinville, there was little in the latest Statistics Canada (StatCan) grain stocks report that would budge the markets. “When I look at the run of StatCan reports that we get through the year, whether they’re acreage, production or ending stocks, this report in May is the least important […] Read more
U.S. grains: CBOT corn, soy, wheat fall on bearish weather
U.S. soy planting seen at near-record pace
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn and soybean futures dropped on Tuesday, under pressure from a fast pace of planting across key production areas of the U.S. Midwest and an outlook for good growing weather once seeding is finished, traders said. Soft red winter wheat futures also weakened, with the benchmark CBOT […] Read more
Canola fund short position grows
Funds also net short in U.S. wheats
Reading Time: < 1 minute MarketsFarm — The managed money net short position in canola grew in early May as fund traders were busy liquidating long positions and moving more money to the short side of the market, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 2, the net […] Read more
U.S. grains: Chicago grains end week up as no new Black Sea ships authorized
Markets also have eye toward U.S. crop report
Reading Time: 2 minutes Mexico City | Reuters — Chicago grains and soy ended the week higher on Friday as hopes dimmed for the renewal of a U.N.-brokered deal allowing the safe Black Sea exports of Ukraine grain. Ukraine, Russia, Turkey and the United Nations failed to reach an agreement to authorize any new vessels to carry out Black […] Read more
U.S. grains: Chicago grains flat or down with weather, Black Sea in focus
Large Russian supplies temper fears over Black Sea deal collapse
Reading Time: < 1 minute Mexico City | Reuters — Chicago grain futures closed flat or lower on Tuesday, with wheat hitting a 21-month low, as markets were weighed down by a dip in stocks and crude oil and clear forecasts for U.S. planting weather, traders said. Corn closed slightly up as the market weighed increasing export competition from Brazil, […] Read more
AAFC raises canola stocks projections
StatCan's early acreage estimates due out this week
Reading Time: < 1 minute MarketsFarm — Canola ending stocks for both the current marketing year and 2023-24 were raised slightly by Agriculture and Agri-Food Canada (AAFC) in its latest supply/demand projections, released Friday. The government agency lowered its canola export forecast for 2022-23 by 200,000 tonnes from March, now pegging movement at 8.4 million tonnes. With domestic usage left […] Read more
U.S. grains: Cheap Brazilian soybeans destined for U.S.
U.S. weather, Ukrainian exports also in focus
Reading Time: 2 minutes Mexico City | Reuters — U.S. soybean futures closed the week down on Friday, extending losses as cheap Brazilian beans were being snatched up by the U.S., the second-largest soy producing country in the world. A drop in prices due to abundant local supplies and cooling demand have made Brazil an attractive origin for soybeans, […] Read more
A message from April Stewart, Country Guide's Associate Editor
