Chicago | Reuters — U.S. corn and wheat futures closed slightly higher on Friday, as their recent rally from multi-week lows ran out of steam in the absence of fresh fundamental news, traders said. Soybeans weakened, their ninth decline in 10 sessions as the market remained anchored by expectations of a record crop in Brazil. […] Read more
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U.S. grains: Corn, wheat futures firm
U.S. grains: Soybeans extend rally
Chicago | Reuters — U.S. soybean futures rose on Friday on follow-through buying on the U.S. Agriculture Department’s surprise cut to its domestic production estimate and ending stocks on Thursday, traders said. Soymeal led soybeans higher on concerns that forecasts for more rain in Argentina could limit the size of the soybean crop in the […] Read more
Tight high-protein supplies underpin Minneapolis wheat
CNS Canada — Spring wheat futures in Minneapolis are outpacing the Chicago and Kansas City winter wheats to the upside, and tight world supplies of higher-protein wheat should remain supportive until the 2017 North American crop becomes better known. “A lot of it is the protein market,” said analyst Bryan Strommen of Progressive Ag in […] Read more
Weaker loonie underpins Prairie wheat bids
CNS Canada — Cash spring wheat and durum bids in Western Canada moved higher during the week ended Monday, as weakness in the Canadian dollar helped underpin basis levels. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up $1-$5 per tonne compared to the previous week. Average prices ranged from […] Read more
U.S. grains: Wheat jumps on short-covering
Chicago | Reuters — U.S. wheat futures rose more than two per cent on Wednesday as signs of fresh export demand triggered a short-covering rally in a market where commodity funds hold a large net short position, traders said. Corn futures ended lower after a choppy session while soybeans fell, pressured by the expanding harvest […] Read more
MGEX spring wheat futures pull away from winter wheat
CNS Canada — Minneapolis spring wheat futures are pulling away from their winter wheat counterparts, as quality issues with the North American spring wheat crop bring in protein premiums, according to an analyst who said there was more room to the upside in spring wheat. Kansas City and Chicago winter wheat contracts hit 10-year lows […] Read more
U.S. grains: Corn, soybeans fall on harvest pressure
Chicago | Reuters — U.S. corn and soybean futures weakened Wednesday on expectations that drier weather in the coming days will allow farmers in the Midwest to ramp up the harvest of what is expected to be record-large crops, traders said. MGEX spring wheat and K.C. hard red winter wheat contracts firmed on tight stocks […] Read more
MGEX spring wheat shows strength
CNS Canada — Minneapolis (MGEX) spring wheat futures have climbed back to their highest levels in two months and could remain strong relative to other wheat classes over the next few months, according to an analyst. The nearby July 2016 contract is trading at about US$5.50 per bushel, while the July 2017 contract is now […] Read more
Minneapolis leads U.S. wheat futures trifecta
CNS Canada — Minneapolis wheat prices are gaining on those at other U.S. futures markets, as traders expect reduced acres this year. But the opposite is true for the Kansas City exchange as the expectation of high production weighs, and Chicago markets are moving on technical trading. Minneapolis Grain Exchange — “We’re keeping an eye […] Read more
U.S. grains: Corn rallies on export demand
Chicago | Reuters — U.S. corn futures rose 1.9 per cent on Thursday, with concerns about crops in South America spurring export demand for U.S. supplies, traders said. Soybean futures closed lower despite strong exports, with traders locking in profits after prices rallied to their highest since August. Wheat futures were mixed, with benchmark soft […] Read more
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