CNS Canada – North American wheat prices have rallied sharply over the past few weeks and could have more room to go, especially for higher quality and higher protein wheat. After trending lower for most of June and into early July, the Minneapolis December spring wheat contract settled at US$6.2275 per bushel on July 31, […] Read more
Tag Archives wheat markets — page 3
Wheat futures climbing higher
Corn market remains bleak due to good U.S. growing conditions, despite lower stocks
Soybean prices continue to be hit by Chinese tariffs on American soybeans
The June 27 USDA report showed that U.S. farmers planted more corn, soybeans and spring wheat. The recent Statistics Canada planting survey showed that there was no change to Ontario soybean acres while there was a marginal decline in planted area for corn. Optimal growing conditions across North America have enhanced yield prospects for corn, […] Read more
U.S. crop planting on schedule, but corn carry-out could still be tight
China-U.S. trade threats are causing uncertainty in global grains and oilseed trade
Grain and oilseed markets continue to digest northern hemisphere weather and crop conditions. Australia remains dry as farmers begin winter grain sowing. Precipitation levels have improved in Argentina for winter wheat seeding but have delayed the corn and soybean harvests. The Brazilian soybean harvest is in the final stages; however, drier conditions have plagued the […] Read more
COMMENTARY: Larger than expected U.S. stocks are negative for the Ontario corn basis
The USDA released its March 1 stocks report March 29 along with the seeding intentions survey. Stocks reports confirm the 2017 production and, in the case of corn and wheat, provide an idea of domestic feed usage. Stocks reports are not usually market movers. Market factors this week: There’s lots of soybean carryout in the […] Read more
COMMENTARY: South American harvest moving corn and soybean markets
In the last commentary, we introduced a broad range of issues influencing the price structure of corn, soybeans and wheat. This week, we’ll follow up with recent developments and provide an idea of price direction moving forward. Market factors this week include: It’s soybean harvest in South America with Brazilian crop expect up slightly from […] Read more
Wheat bids fall along with U.S. futures
Winnipeg | CNS Canada – Hard red spring wheat bids in Western Canada fell slightly for the week ending Nov. 17, following decreases in the United States markets. Depending on the location, average Canada Western Red Spring (13.5 per cent protein CWRS) wheat prices were down C$3 to C$5 per tonne across the Prairie provinces, […] Read more
Canadian wheat bids decline with U.S. futures, but basis improves
CNS Canada – Hard red spring wheat bids in Western Canada moved lower during the week ended August 3, as declines in the US futures weighed on prices. However, weakness in the Canadian dollar provided support and helped basis levels see some modest improvement. Depending on the location, average Canada Western Red Spring (CWRS) wheat […] Read more
Egypt’s GASC cancels wheat tender as ergot policy bites
Cairo/Abu Dhabi | Reuters — Egypt’s ability to buy wheat from abroad while demanding zero ergot fungus in shipments was dealt a serious blow on Wednesday, with state grain buyer GASC cancelling its tender after receiving just one offer. It was the country’s first tender to purchase wheat since it reinstated its zero-tolerance ergot policy […] Read more
Russia muscling into rivals’ wheat markets
Moscow | Reuters — Russia is muscling in on the markets of its European and North American competitors as it overtakes the European Union to become the world’s biggest wheat exporter for the first time. Russia is expecting a record crop in the 2016-17 marketing season, which began on July 1, while EU harvests are […] Read more
Egypt prosecutor says some local wheat bought on paper only
Cairo | Reuters –– Egypt’s general prosecutor said on Thursday some local wheat was bought by the government in paper transactions only and not physically delivered, the first public statement by his office on the matter since fraud allegations surfaced last month. Egypt, the world’s largest wheat importer, launched a government-led inspection of wheat silos […] Read more
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