MarketsFarm — There’s no doubt commodities on the Chicago Board of Trade have struggled since the coronavirus outbreak in China, but the situation could be worse, a trader said. “I personally think the markets… are holding up pretty well with all of the negative news,” said Scott Capinegro of Barrington Commodities in Barrington, Ill. Some […] Read more
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CBOT weekly outlook: Commodities hold up while waiting on China
U.S. grains: Wheat futures rally, pull corn higher
Chicago soybean futures weaken
Chicago | Reuters — U.S. wheat futures surged 4.5 per cent on Tuesday, their biggest gain since May, as cuts to the harvest outlook in Australia bolstered prospects for U.S. exports, traders said. The rally in wheat, which closed near session highs as technical buyers entered the market after the early strength, underpinned the corn […] Read more
U.S. grains: Soybeans rise for third session
Chicago | Reuters — U.S. soybean futures rose modestly on Wednesday as strength from global equity markets and soyoil futures offset worries about export demand for U.S. oilseeds, traders said. Wheat futures firmed on technical buying. But corn drifted lower in rangebound trade as uncertainty about demand hung over the market. Chicago Board of Trade […] Read more
U.S. grains: Soybeans, corn end higher
Chicago | Reuters — U.S. grain and soybean futures firmed on Tuesday, supported by a broad rebound in equity markets following losses sparked by a coronavirus outbreak in China, analysts said. Worries about harvest delays in Brazil’s soybean areas added support. Chicago Board of Trade March soybeans settled up 2-1/2 cents at $8.79-1/2 per bushel, […] Read more
CBOT weekly outlook: Soybeans oversold
MarketsFarm — Sharp losses in Chicago Board of Trade soybeans over the past month are looking overdone, according to an analyst who expects the lows may be in for the time being. March soybeans lost roughly 60 U.S. cents per bushel since the beginning of January, with the latest concerns over the coronavirus in China […] Read more
Canada, EU, China, others agree on temporary fix to WTO crisis
Brussels/Davos | Reuters — Canada, the European Union, China and 14 other World Trade Organization members agreed on Friday to create a temporary mechanism to settle trade disputes after U.S. action rendered the WTO incapable last month of acting as the umpire of global trade. The Canadian government and the European Commission said separately that […] Read more
Favourable growing conditions forecast for major ag regions
MarketsFarm — Canadian producers looking for challenging growing conditions elsewhere in the world to prop up commodity prices may be disappointed during the 2020 growing season. South America “If you’re looking for any help from South America for your canola or soybeans or corn, you’d better look somewhere else,” Drew Lerner, president of World Weather […] Read more
Zimbabwe says grain stocks running out after drought
Harare | Reuters — Zimbabwe has only 100,000 tonnes of grain in its strategic reserves, enough to last just over a month, as the southern African nation suffers the effects of a severe drought, according to the agriculture minister. More than half the country’s population faces food shortages after maize harvests halved last year. The […] Read more
Trade deal will not affect China’s other ag suppliers, Liu says
Beijing | Reuters — China’s other suppliers of agricultural commodities will not be impacted by the Sino-U.S. trade deal since buying will be based on market principles, Vice-Premier Liu He said, according to a report from state-owned CCTV on Thursday. Liu was speaking on Wednesday at a press briefing after signing the Phase One trade […] Read more
U.S. grains: Wheat up, corn and soy down awaiting USDA data
Chicago | Reuters — U.S. wheat futures jumped on Thursday in a rebound from the market’s recent slide and soybeans and corn eased as investors squared positions ahead of an eagerly awaited U.S. Department of Agriculture (USDA) supply-and-demand report due on Friday. Rising global prices and forecasts for reduced U.S. plantings this season gave wheat […] Read more
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