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
Tag Archives Soybeans — page 18
Wheat futures market remains volatile
Early U.S. yields better than expected; Russian wheat not dominating like last year
Crop Report: The good, the bad and the difficult
OMAFRA Field Crop Report for the week of June 20
Crop growth and conditions continue to be variable across the province. While crops look good in areas that were able to be planted either early or as per normal and into decent soil conditions, other areas have been delayed significantly by continued rainfall. Understandably, this has been a difficult time for those growers. There is […] 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
Canadian Grain Commission announces grain grading changes
The Canadian Grain Commission (CGC) announced several grain grading changes for the 2024-25 crop year to better meet the needs of the domestic grain sector and global buyers. “The Canadian Grain Commission values stakeholder input and is implementing these changes based on feedback from the sector. They will support continued growth and Canada’s reputation as […] 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
Field conditions in Ontario seen as ‘frustrating’
OMAFRA Field Crop Report for the week of May 30
It continues to be a frustrating spring for field conditions through much of the province. Frequent precipitation has continued to cause delays in tillage, planting, and spraying in some areas, and weather earlier this week has shut down field work once again in many areas. However, with 3–5-day windows of good weather, many producers have […] 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
How Ontario crops are shaping up so far
OMAFRA Field Crop Report for the week of May 9
Cereals Winter wheat is advanced by 10-14 days in southern Ontario compared to other years, particularly in early planted fields. Fields in Essex are now at the early boot stages. Regions of the province further north and east as well as later planted fields are not as advanced and are at the first to second […] 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
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