The ongoing Northern Hemisphere wheat harvest continues to pressure world wheat values. The North American weather premium in corn and soybean markets has evaporated due to optimal growing conditions. Quick lookSoybeans: U.S. and Ontario soybean crops are developing under optimal conditions. North American prices are competitive with South American origin, limiting the downside.Corn: Traders are […] Read more
Tag Archives grain markets — page 5
China to be a major buyer of U.S. corn in the 2024/25 crop year
Dry conditions could lead China to buy corn this summer, which would be bullish for new crop prices
Wheat futures market remains volatile
Early U.S. yields better than expected; Russian wheat not dominating like last year
The Northern Hemisphere wheat harvest is in the early stages. Corn and soybean markets are factoring in a risk premium due to uncertainty in U.S. production. Quick lookSoybeans: Brazil and Argentina soybean harvests are complete and basis levels are strengthening.Corn: Ongoing Brazilian and Argentinean harvests are pressuring world values.Wheat: The U.S. winter wheat harvest is […] Read more
Prairie Wheat Weekly: Prairie wheat bids trend lower with U.S. futures
Spring wheat bids in Western Canada fell sharply lower during the week ended June 13, seeing a continuation of the previous week’s declines as losses in the United States futures weighed on values. Average Canada Western Red Spring (13.5 per cent) wheat prices were down by C$16.00 to C$18.40 per tonne across the Prairies, according […] Read more
Feed weekly: Prairie barley market steady with good new crop projections
Feed barley bids are holding relatively steady in Western Canada, showing little movement over the past month as end users await the new crop amid relatively favourable growing conditions. Drought fears had encouraged some demand earlier in the year, but “now that those fears have been alleviated, (buyers) are starting to dig in,” according to […] Read more
June Supply and Demand report has little effect on grain markets
To broker Ryan Ettner of Allendale Inc. the June supply and demand reports from the United States Department of Agriculture has little impact on the markets for June 12. “Given the fact we didn’t miss expectations by much in any category, I would say we continue to trade as we have been trading,” Ettner said. […] Read more
ICE weekly: Canola futures volatile amidst selling, rainy weather
Intercontinental Exchange (ICE) canola futures went on a rollercoaster ride during the week ended June 12. The July contract failed to record consecutive gains or losses during the week, with prices ranging from C$615.40 to C$641.80 per tonne. The November contract, which traded as high as C$662.90 earlier in the week, fell to its lowest […] Read more
Fund short position grows in canola
Fund traders were back on the sell side of the canola market in early June, putting on fresh bearish bets and growing their net short position, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC). As of June 4, 2024, the net managed money short position in […] Read more
Grain traders forecasting big U.S. soybean crop
World will contend with a sharp year-over-year increase in soybean production for 2024/25
Ontario corn and soybean prices are at six-month highs. Farmers should sell the final 20 per cent increment of their 2023 corn and soybean production. Quick lookSoybeans: Traders are factoring in a year-over-year increase in U.S. soybean production. Brazil’s final crop estimate will be lower due to extensive flooding. Argentina’s crop was 80 per cent […] Read more
Latest USDA report bullish for corn
Lower than expected yields could occur due to late planting, insect pressure
Ontario corn and soybean planting progress is running seven to 14 days behind normal. A later planting period generally results in lower yields. Winter wheat is rated 70 per cent good to excellent. Quick lookSoybeans:U.S. planting progress is lagging the five-year average, resulting in lower yield forecasts. Brazil continues to dominate the world market for soybeans […] Read more
North American soybean prices soften
The U.S. will need to carry the world in corn until late June and July
This month, traders will be focused on the U.S. planting pace and North American weather. Last month, a large portion of Ontario received over 150 per cent of normal precipitation. Quick lookSoybeans: Argentina will dominate the soymeal and soyoil market over the next month as harvest nears 20 per cent complete. Brazil’s soybean export offers […] Read more
Cyber-Savvy Farmer
