Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn futures set a two-month high on Monday after a U.S. crop tour last week found damage from hot, dry weather and organizers projected harvests would fall short of government estimates. Wheat futures rallied to their highest level in about seven weeks, while soybeans fell after the […] Read more
U.S. grains: Corn hits two-month high on heat, dryness concerns
Soybeans ease as crop tour sees large U.S. harvest
U.S. grains: Corn up on crop tour’s lowered expectations
Hot, dry weather seen limiting U.S. corn, soy yields
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn and soybean futures jumped on Friday on concerns about hot and dry weather reducing U.S. yields, analysts said. After the close of trading, advisory service Pro Farmer projected a U.S. corn harvest of 13.759 billion bushels, which would be the smallest since 2019 and below government […] Read more
Greater crop production estimated prior to StatCan report
Extended time lag between survey, data's release criticized
Reading Time: 3 minutes MarketsFarm — Analysts are expecting Canadian crop production totals for the 2022-23 marketing year to be substantially higher compared to drought-stricken 2021-22, but still not enough to fully replenish supplies. Statistics Canada (StatCan) will publish its first satellite image model-based yield and production estimates for principal field crops on Monday. Traders and analysts are interested […] Read more
U.S. grains: Corn firms for sixth session in a row
Soybeans weak, wheat strong
Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures steadied after hitting their highest in nearly two months on Wednesday, underpinned by concerns that hot and dry weather in the Midwest during key crop development periods limited how big the fall harvest will be, traders said. Wheat futures were strong, notching their fourth straight day of gains, […] Read more
CBOT weekly outlook: Crop tour raises concerns for corn, soy
Reading Time: 2 minutes MarketsFarm — Reduced corn yields and a lower amount of soybean pods compared to the last few years were two major findings by the Pro Farmer Midwest Crop Tour, which started on Tuesday and ends Friday. In turn, prices for both crops on the Chicago Board of Trade (CBOT) have sharply risen over the past […] Read more
Wheat varieties could move from midge tolerance to midge resistance
Researchers are trying to isolate molecules that appear to transmit resistance to their neighbours
Reading Time: 2 minutes Glacier FarmMedia – A group of western Canadian researchers is trying to create wheat strains with built-in resistance to wheat midge. Though midge-tolerant varieties are available, they are on a mission to add another layer of defence. “One thing biologists have noticed is there are certain varieties of wheat that, for whatever reason … where […] Read more
CBOT weekly outlook: Crop prices soften after USDA report release
Reading Time: 2 minutes MarketsFarm — An unexpectedly bearish supply/demand report from the U.S. Department of Agriculture (USDA) last Friday is still putting pressure on crop prices nearly a week later, according to one trader. In the department’s WASDE report, the estimated average yield for corn was revised downward from the month before by only 1.6 bushels per acre […] Read more
U.S. grains: Soy dives on China’s economic uncertainty
Improved outlook for Ukraine exports weighs on grains
Reading Time: 2 minutes Chicago | Reuters — Chicago soybeans fell on Monday, pressured by forecasts for beneficial rainfall in parts of the U.S. Midwest and unexpected data from China that suggested declining demand for U.S. agricultural commodities from the country. The People’s Bank of China cut key interest rates on weaker-than-expected economic data from the world’s second-largest economy, […] Read more
Wheat, soybeans buck expectations in USDA report
Soy ending stocks figure adjusted higher
Reading Time: 2 minutes MarketsFarm — Projected average yields and production for wheat and soybeans for 2022-23 went against many analysts’ expectations, according to the U.S. Department of Agriculture (USDA). USDA released its monthly world agriculture supply and demand estimates (WASDE) on Friday, which surprisingly showed upward revisions for average yields and production despite pre-report estimates showing the opposite. […] Read more
U.S. grains: Corn, wheat futures extend gains on crop risks
Wheat market also weighs prospects for more Ukraine exports
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn and wheat futures rose on Wednesday, as hot, dry weather in parts of the U.S. and Europe kept attention on harvest risks, while soybeans settled lower after notching contract highs. Traders also adjusted positions ahead of the U.S. Department of Agriculture’s (USDA) monthly supply and demand […] Read more
A message from April Stewart, Country Guide's Associate Editor
