Chicago | Reuters — U.S. wheat futures fell for a fourth straight session on Thursday, extending prior-day losses that were the worst in 7-1/2 months as weak U.S. export sales data stoked concerns about the coronavirus pandemic destroying demand. Soybeans and corn ended mixed as early short-covering and spillover support from sharply higher crude oil […] Read more
Tag Archives crude oil — page 9
U.S. grains: Wheat tumbles on weak export sales, recession fears
Corn, soybeans rise on crude oil rally, but end mixed
CBOT weekly outlook: Bargain buying lifts some commodities
MarketsFarm — Despite an ever-changing economic environment due to the global COVID-19 pandemic, ag commodity prices may be sheltered from the worst bearish sentiments. “Global import businesses have taken off this week due to lower commodity prices,” said Terry Reilly of Futures International in Chicago. “If we do see an economic slowdown, we’ll probably see […] Read more
U.S. ethanol industry ‘bleeding’ on oil collapse, coronavirus
New York | Reuters — U.S. ethanol producers are feeling the pain as margins on the corn-based fuel slumped this week to an eight-year low for this time of year, weighed by concerns over lower fuel demand from the coronavirus and the recent collapse in oil prices. The coronavirus outbreak, which has infected more than […] Read more
ICE weekly outlook: Volatility hampers canola
MarketsFarm — Canola values have been at the mercy of volatile financial markets this week, trading in lockstep with headlines of plummeting crude oil values and stock indices. “We’re getting into a bit of a pattern in the markets,” Ken Ball of P.I. Financial in Winnipeg said, explaining that prices will show some strength, then […] Read more
CBOT weekly outlook: Markets focused on virus, oil prices, stocks
MarketsFarm — From where Steve Georgy sits, commodity markets such as the Chicago Board of Trade (CBOT) are currently focused on only three things. One is the COVID-19 coronavirus — specifically, how the global outbreak affects commodity markets, especially if it results in “the slowing down the movement of grain, the slowing down the movement […] Read more
U.S. grains: Corn, wheat decline as Wall Street tumbles
Chicago soy turns lower
Chicago | Reuters — Chicago corn and wheat futures declined on Wednesday, following as Wall Street equity markets fell sharply on fears of the coronavirus causing a global recession and a lack of immediate U.S. measures to counter the economic fallout. Soybean futures turned lower, erasing early advances tied to a pick-up in export demand […] Read more
U.S. grains: Soy, corn follow broad market rebound
Investors keep eye on stimulus proposals
Chicago | Reuters — U.S. soybean and corn futures each rose for the first time in four sessions on Tuesday as expectations of policy action to curb economic fallout from the coronavirus outbreak helped financial markets regain ground after a day-earlier drubbing. Wheat futures also closed higher in technical moves after a choppy session, although […] Read more
U.S. livestock: Cattle futures dive, led by energy, equity markets
CME feeder cattle close limit down
Chicago | Reuters — U.S. live cattle futures fell on Monday for a third straight session and hit life-of-contract lows following a plunge in crude oil and equity markets amid fears of a global recession, traders said. “When you have the stock market losing five to seven per cent of its value in a day, […] Read more
U.S. grains: Soy, corn follow as global markets slump
Wheat turns higher
Chicago | Reuters — U.S. soybean futures fell more than two per cent on Monday and corn fell nearly one per cent as concern over the economic fallout from the coronavirus and a crash in crude oil prices pushed equities and other commodities sharply lower. Wheat futures on the Chicago Board of Trade turned higher, […] Read more
Oil price war spells bad news for Canada, global market
MarketsFarm — Benchmark crude oil prices plummeted 30 per cent on Monday, after a price war erupted between Saudi Arabia and Russia. While that will mean lower prices at the pumps for consumers, the price war will not bode well for the Canadian economy, according to a pair of industry experts. “We already had the […] Read more
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