Despite a weakened United States dollar on July 17, activity in the grains at the Chicago Board of Trade was choppy, according to broker Ryan Ettner of Allendale Inc. in McHenry, Ill. Added to that, Ettner pointed out the speculative funds resumed accumulating very large short positions in corn and soybeans.
Tag Archives commodity markets
CBOT Weekly: Market choppy as funds continue to build shorts
CBOT weekly outlook: Bearish picture for commodities
Prices may not go much lower given the commodities have hit contract lows, says analyst
Ahead of the United States Department of Agriculture Outlook Forum, analyst Bryan Strommen of Progressive Ag in Fargo, N.D. painted a rather bearish picture for the commodity markets. However, he noted that prices might not go much lower given the commodities have hit contract lows.
Accounting probe hits ADM as crop glut, lower margins point to tough 2024
ADM shares fell 24 per cent Monday as news of accounting issues broke
An investigation into accounting practices in Archer-Daniels-Midland's ADM.N Nutrition segment could not come at a worse time for the company as sinking crop prices look set to erode profit for its core grain trading and processing businesses this year.
World food price index ends 2023 some ten per cent below 2022 levels
Cereal prices, vegetable oils slumped most over the year, FAO says
The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 118.5 points in December, down 1.5 per cent from November and 10.1 per cent below December 2022 levels.
Commodity prices to remain high in 2024, drop in 2025 – HSBC
Most agricultural products expected to outperform energy, industrial metals amid supply constraints, dry weather
Squeezed supply, improved Chinese demand and the global energy transition will keep commodity prices elevated in 2024, before falling the following year, forecasted British banking group HSBC today.
ICE weekly outlook: Canola likely to keep sliding back
With larger crop, trade likely to be overwhelmed by deliveries, analyst says
There is a rather significant bearish outlook for canola for the rest of December, according to Jerry Klassen of Resilient Commodity Analysis. He said a large part of this was generated by the Statistics Canada production report released on Dec. 4.
Prairie cash wheat: durum soars as red spring falls back
Steep increases following Russian attacks on Ukrainian ports were gone by mid-week
MarketsFarm – There were sharp increases in durum across Western Canada for the week ended July 27, while spring wheat incurred small to moderate declines. There were gains in Minneapolis spring wheat, while Kansas City and Chicago winter wheat contracts slipped back. At the beginning of the week there were steep increases for wheat as […] Read more
Fund position flips to net long in canola
The last time the market was showing a net long position was the first week of January
MarketsFarm – The managed money position in canola flipped from a net short to a net long for the first time in six months during the week ended July 18, as fund traders covered short positions and put on new bullish bets, according to the latest Commitments of Traders report from the United States Commodity […] Read more
CBOT weekly outlook: Commodities largely rangebound after USDA report
MarketsFarm — Although soyoil on the Chicago Board of Trade has fallen back for five consecutive days as of Tuesday, it has remained rather rangebound, according to trader Ryan Ettner of Allendale Inc. in McHenry, Ill. “We’re actually at prices where it was in early August,” Ettner said, pointing to something of a back-and-forth shifting […] Read more
Mintec acquires Agribriefing to expand agrifood data offering
Paris | Reuters — British market intelligence firm Mintec announced on Tuesday the acquisition of Agribriefing in a deal it said would create a leading global provider of data on agricultural and food markets. Financial details were not disclosed. Agribriefing’s businesses include protein price-reporting agency Urner Barry and crop consultancy Strategie Grains, the latter acquired […] Read more
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