While canola had undergone another week of sharp losses before bouncing back with a double-digit gain on March 23, the Chicago soy complex also had a week to forget. The May soybean contract fell to US$14.1950 per bushel at the end of March 23 after a one-day, 29-cent drop. It was the ninth negative session […] Read more
Tag Archives grain markets — page 10
Soy complex crushed by selloffs
U.S.-Mexico corn dispute unlikely to affect Canada
Long-term impact might set a precedent for future actions
It’s been two years since a decree by Mexican president Andres Manuel Lopez Obrador to phase out imports of corn grown from genetically modified seed. In January 2021, the Obrador government followed through on its pledge to ban the import of GM corn hybrids for human consumption, and the use of glyphosate, by 2024. The […] Read more
China supports extension of Black Sea Grain Initiative
Support document has calmed traders’ concerns and market uncertainty regarding corn and wheat exports from Black Sea ports, for now
Ontario cash corn prices dropped nearly 50 cents per bushel, on average, between Feb. 21 and March 7, while soft red winter wheat values fell by approximately 75 cents per bushel. Cereal grains have come under pressure due to a lack of export demand. Ethanol processors and cattle feeders appear to have sufficient corn coverage […] Read more
Canola industry ready to move forward
The Canola Council of Canada celebrated a return to normalcy at its annual meeting at the Canadian Crops Convention in Ottawa. “Our theme this year is ‘from adversity to opportunity’ and I think that’s very fitting,” said Jim Everson, the group’s president. Production has rebounded following the drought of 2021, meaning there’s opportunity to develop […] Read more
Brazil could harvest record soybean crop
Large anticipated South American crop causing discount in North American new crop prices
Ontario corn prices have been relatively flat since the end of harvest. Commercial ownership of corn is considered burdensome at this time. Ontario corn demand surges in the latter half of the crop year which should result in stronger basis levels. Ontario soybean prices are trading near seven-month highs. Domestic crush margins have been enhanced […] Read more
China giving the U.S. the cold shoulder on corn
Political tensions between China and the U.S. and between Russia and the Ukraine continue to disrupt markets
Ontario corn prices appear to be consolidating. Export demand for Ontario has been minimal over the past month; therefore, the domestic prices have been based on local feed values. Ethanol producers appear to have sufficient coverage for nearby positions. Soybean exports continue to exceed expectations while demand from the domestic crush was driven by stronger […] Read more
Inflation remains top of mind for organic marketers
Organic produce sales in the U.S. declined in 2022 as consumers cut costs
Rising food prices are one of several factors creating turbulence in the organic marketplace. But, as attendees at the recent virtual segment of the 2023 Guelph Organic Conference learned, inflation will likely remain top of mind in 2023. For the first time in more than a decade of monitoring the U.S. marketplace, analyst Tom Barnes […] Read more
Surge in China’s economic output will drive demand for all commodities
Strong resource demand and end of interest rate hikes will strengthen Canadian dollar
Ontario corn prices slowly percolated higher throughout January. Farmer selling eased but commercial traders had sufficient ownership to cover nearby commitments, which tempered the upside. Soybean prices are marginally higher compared to the first week of January. Export demand during the month was stronger than anticipated and commercial supplies are decreasing. The market needs to […] Read more
Wheat market at seasonal lows; Black Sea deal tenuous
Soybean, corn markets watching South American production
Ontario farmers have sold the bulk of their corn, soybeans and wheat, so basis levels are expected to strengthen later in winter as commercial stocks decline. Statistics Canada will release its survey results of Dec. 31, 2022 farm stocks on Feb. 7. Ontario soybean prices are at the highest levels since August. Soybean export demand […] 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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