Chicago | Reuters — Chicago Board of Trade soybean futures exceeded a three-week high on Friday as demand from end-users helped push soybean oil above a one-month peak, traders said. Spillover support from soyoil’s rally lifted soybeans while corn futures slumped, traders said. Soyoil has advanced more than 22 per cent since dropping on May […] Read more
Tag Archives markets — page 58
U.S. grains: Soybeans up as soyoil touches one-month high
Traders watch U.S. crop weather forecasts
U.S. grains: Wheat futures rebound
Corn, soybeans close firm
Chicago | Reuters — U.S. wheat futures rose on Thursday, bouncing back from a sharp sell-off a day earlier on support from technical buying and concerns about supply disruptions stemming from the Russia-Ukraine war, traders said. Corn and soybeans also closed in positive territory, with old-crop contracts supported by expectations that supplies will remain tight […] Read more
Feed weekly outlook: Market in a waiting game
U.S. corn, available wheat keep market supplied
MarketsFarm — The feed grain market in Western Canada is holding relatively steady for the time being as both buyers and sellers wait to get a better handle on new-crop production. “It’s a waiting game at this point between the farmer and the feedlot,” said grain merchant Jay Janzen of CorNine Commodities at Lacombe, Alta. […] Read more
ICE weekly outlook: Canola finds support from funds, weather
Crude oil markets also a factor
MarketsFarm — After being in a steady decline over the past month, the ICE Futures canola market was on the rise for the week ended Wednesday. The July canola contract closed Wednesday at $670.30 per tonne, an increase of $20.70 from the week before. Meanwhile, the November canola contract rose $22.60 per tonne over the […] Read more
Bison industry expanding, becoming mainstream
Bison meat emerging from 'seasonal' perception
MarketsFarm — The Canadian bison industry has been through some difficult times during the last few years but is now emerging from those doldrums, according to Manitoba Bison Association president Robert Johnson. “Between the two drought years and the COVID-19 pandemic, then high feed prices, probably the last two years have been pretty crappy for […] Read more
CBOT weekly outlook: Ending stocks of corn, soy predicted to rise
Ending stocks of wheat projected to drop as drought hits Kansas winter wheat
MarketsFarm — Ahead of supply and demand estimates from the U.S. Department of Agriculture due out Friday, analyst Tom Lilja of Progressive Ag in Fargo, N.D. predicted increases in 2023-24 ending stocks for U.S. corn and soybeans and decline for wheat. The average trade guess for wheat going into this month’s report was approximately 570 […] Read more
U.S. grains: Wheat futures snap winning streak
Corn weak, soybeans mixed
Chicago | Reuters — U.S. wheat futures fell on Wednesday, with the most-active Chicago Board of Trade soft red winter wheat contract snapping a five-session rally that had pushed prices to their highest in nearly three weeks, traders said. But concerns about export demand for U.S. supplies pulled wheat prices lower, with high-protein offerings notching […] Read more
U.S. grains: Corn, soybeans rise ahead of USDA report
U.S. wheat futures end mixed
Chicago | Reuters — U.S. corn futures rose on Tuesday as investors unwound bearish bets ahead of a key government supply and demand report at the end of the week, traders said. “It is all money flow,” said Karl Setzer, brokerage research lead with Mid-Co Commodities. “When you get down to it, funds have built […] Read more
Extent of Saudi oil production cut unclear
Reported tensions within OPEC limit price gains
MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably […] Read more
Klassen: Texas flooding lifts Canadian feeder market
Fed cattle in counter-seasonal trend
For the week ending Sunday, western Canadian feeder cattle markets traded $6-$8 higher. In some cases, quality yearling packages traded as much as $10 above week-ago levels. Live and feeder cattle futures closed the week US$8-$9 higher as traders monitored flooding conditions in Texas. Alberta packers were buying fed cattle on a live basis in […] Read more
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