The seasonal slowdown in the North American grain and oilseed markets has traders in the Chicago futures taking direction from shifting weather forecasts out of South America, with technical chart signals also at play in the futures heading into the New Year.
Soybeans
U.S. grains and oilseeds trading South American weather/charts
Wheat rallied around Chinese purchases, soybeans came under pressure
U.S. grains: Wheat rallies on fresh round of purchases by China
Soybeans ended narrowly mixed as traders monitored Brazil weather; corn rose for fifth straight session
Wheat rose after U.S. Department of Agriculture (USDA) confirmed private sales of 198,000 metric tons of U.S. soft red winter wheat to China, the second such sale in as many days. Monday's announcement that China had purchased 440,000 tons of the grain, the largest one-off U.S. wheat export sale to China since at least 2020, added impetus to a recent rally.
Net fund short position edges down in canola
CBOT fund traders were liquidating some large net long positions in soybeans
Fund traders were buying back some of their large net short position for the fourth week in a row in late-November, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Higher canola, wheat production expected in StatCan report
Traders raise concerns about report accuracy
MarketsFarm — There was a consensus among several traders and analysts that Statistics Canada will very likely raise its estimates on canola and wheat production for 2023-24. Yields on the […] Read more
U.S. grains: Chicago wheat, corn rally as export sales top forecasts
Soybeans lower in narrow trading
Chicago | Reuters — Chicago wheat and corn futures climbed more than one per cent on Thursday as traders covered more short positions following a slump to multi-year lows and […] Read more
CBOT weekly: Mostly bullish influences on soy, corn, wheat
China increasing imports, Brazil in weather bind
MarketsFarm — While extreme weather differences in Brazil remained the main focus of the Chicago Board of Trade’s attention, increased imports by China were becoming another major factor, according to […] Read more
ICE weekly outlook: Canola prices could rebound
'There's nothing all that exciting to look at'
MarketsFarm — Winnipeg-based trader Ken Ball from PI Financial is cautiously optimistic that canola prices can rebound in the short term. The January canola contract closed at $702.30 per tonne […] Read more
U.S. grains: Chicago wheat finishes higher on short covering
Soybeans nearly unchanged, drought in Brazil looms over production
Chicago | Reuters — Chicago wheat futures climbed more than two per cent on Wednesday, extending gains from the previous session as traders covered their short positions ahead of month-end […] Read more
U.S. grains: Soybeans up on Brazilian heat, export demand
Wheat moves higher; corn slumps on ample supplies
Chicago | Reuters — Chicago soybean futures climbed more than one per cent on Tuesday on concerns that scorching weather conditions in South America were taking a toll on crops, […] Read more
Speculators buy back bearish canola bets in latest report
Funds reduce net long in soybeans
MarketsFarm — Fund traders were actively covering bearish bets in canola during the week ended Nov. 21, buying back some previously placed short positions, according to the latest Commitments of […] Read more