Chicago Board of Trade soybean futures inched up on Wednesday on technical buying and as investors adjusted positions ahead of Thursday's Thanksgiving Day holiday.
As the Canadian canola industry remained braced for whatever may come from China in regard to tariffs, a sharp blow to the oilseed arose from a much different source. United States President-elect Donald Trump threatened Canada and Mexico with 25 per cent tariffs on their goods imported by the U.S. effective Jan. 20, the day he’s sworn in.
Soybean and corn futures at the Chicago Board of Trade are expected to hold rangebound and trade sideways through the holiday season, as market participants wait to get a better handle on what trade policies proposed by United States President-elect Donald Trump may mean for the commodities in the new year.
Chicago corn and soybean futures fell on Tuesday following U.S. President-elect Donald Trump's threat of tariffs against major trading partners, while forecasts for strong South American crops also pressured prices, traders said.
Exporters have shipped soybeans from the busiest U.S. grains port at the fastest rate in nearly four years after rain raised water levels in the Mississippi River, government data showed.
Chicago wheat futures fell on Monday as ample supplies pressured prices, with worry receding that an intensified conflict between Russia and Ukraine could threaten Black Sea export shipments.
Chicago | Reuters – Chicago wheat futures eased on Friday on profit-taking and dollar strength, according to analysts, while soybeans gained in technical rebound from three days of declines. Corn […] Read more
Chicago corn futures weakened on Thursday and soybeans struck fresh contract lows as Brazil and China came together for significant agricultural trade deals and weather in South America remained beneficial for both crops, analysts said.
The International Grains Council (IGC) said on Thursday it has trimmed its forecast for 2024/25 global wheat production driven partly by a diminished outlook for the European Union.
U.S. soybean futures hit a two-week low on Wednesday and soyoil futures fell more than three per cent on expectations for plentiful South American soy harvests this year along with uncertainty about demand for soy-based biodiesel fuel, analysts said.