MarketsFarm — Not many major divergences can be seen between the U.S. Department of Agriculture’s data (USDA) on Argentina’s soybean crop and data from the department’s attaché in Buenos Aires. What may bring changes to the country’s soybean industry are tax increases imposed by the new federal government, according to Benjamin Boroughs, the USDA attaché. […] Read more
Argentine soybeans facing tax increases
Brazil to become top soybean producer, USDA says
MarketsFarm — Brazil is set to pass the United States as the world’s top producer of soybeans during the 2019-20 marketing year, according to a report from the U.S. Department of Agriculture (USDA). As soybean production in both countries has risen dramatically over the last 10 years, the U.S. continued to lead the world in […] Read more
ICE weekly outlook: Canola could break out of range
MarketsFarm — With canola now near the top end of its range, prices could break out of being rangebound in the next several days, according to an analyst. Canola has made gains over the last month or so, largely due to spillover from increasing prices for soyoil on the Chicago Board of Trade. Soyoil has […] Read more
Canadian canola crush up 8.5 per cent on year-to-date
MarketsFarm – Canada’s canola crush is running well ahead of the year ago pace, according to the latest data from Statistics Canada. Four months into the 2019/20 marketing year, which began Aug. 1, more than 3.3 million tonnes of canola have been crushed, according to the report released Dec. 19. That’s a jump of 8.5 […] Read more
CBOT weekly outlook: Trade awaits solid details on ‘Phase One’
MarketsFarm — While optimism towards the ‘Phase One’ trade deal between the U.S. and China has continued, its initial impact on the Chicago Board of Trade (CBOT) has diminished, according to one trader. “I think the biggest thing is everyone is on hold wondering, is it real? The actual terms of this [agreement] are still […] Read more
Pulse weekly outlook: Drop in India’s production may lead to lower duties
MarketsFarm — There’s a possibility the government of India could lower its import duties on pulses, including those from Canada, according to reports. With India’s monsoon rains having continued longer than usual, production of the country’s kharif (summer) pulse production fell by almost two million tonnes. Prior to the monsoons, market expectations called for 10.1 […] Read more
ICE weekly outlook: Canola values could fall further
MarketsFarm — Although canola has continued to be rangebound, one analyst believes prices are due for a downward shift toward the low end of the spectrum. “Gravity is going to pull it back down to the low end of the range, and $10-$15 [per tonne] wouldn’t be surprising,” said David Derwin, an analyst with PI […] Read more
Prairie cash wheat: CWRS prices up, durum largely down
MarketsFarm — Wheat bids in Western Canada were mostly steady to higher for the week ended Thursday. There were gains for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheat. However, Canada Western Amber Durum (CWAD) wheat was steady to lower. The Canadian dollar gained six-10ths of a cent during the week. […] Read more
Feed weekly outlook: Purchases delayed as prices steady, supplies ample
MarketsFarm — With good supplies available, don’t expect to see much movement in prices for feed wheat and barley over the next several months, according to Nelson Neumann. Neumann, senior trader for Agfinity at Stony Plain, Alta., said barley currently was around $223 per tonne Lethbridge delivered and wheat was a little back at $220 […] Read more
CBOT weekly outlook: Headlines, geopolitics drive prices
MarketsFarm — To Terry Reilly, about the only things driving the Chicago Board of Trade (CBOT) are headlines and geopolitics developments. “Traders are trading headlines,” Reilly, an analyst for Futures International in Chicago, said in reference to the latest developments in U.S.-China trade talks. Reports on Wednesday morning said the two countries were close to […] Read more
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