GRAINS-Corn set for biggest weekly loss in more than 2 months — April 2, 2015

SYDNEY, April 2 (Reuters) – U.S. corn futures fell on Thursday and were poised to finish the week down more than 2.5 percent in their biggest weekly loss in more than two months, dragged lower by U.S. government forecasts of ample global supply. Markets in some countries will be closed on Friday as the Easter […]

FOB Gulf Grain-Basis mostly steady as futures rally — April 1, 2015

CHICAGO, April 1 (Reuters) – U.S. FOB Gulf corn and wheat basis offers were mostly steady after futures closed higher on Wednesday while soybeans offers for May-June shipments were mixed in quiet market activity, traders said. * Farmer selling has slowed to a trickle after USDA’s surprisingly bearish seedings and stocks reports for corn on […]

Mondelez's brands in Canada include Oreo cookies, which marked their 100th anniversary with this giant replica unveiled in 2012 in Toronto. (CNW Group/Kraft Canada)

U.S. CFTC sues Kraft, Mondelez over alleged wheat price manipulation — April 1, 2015

Reuters — The U.S. Commodity Futures Trading Commission on Wednesday charged Kraft Foods Group and Mondelez International with manipulation of prices of wheat used in products such as Oreo and Chips Ahoy cookies. The regulator alleged that Kraft and Mondelez bought $90 million of wheat futures, or a six-month supply, but never intended to take […]

(Dave Bedard photo)

ICE weekly outlook: Canola moving into choppy spring pattern — April 1, 2015

CNS Canada -- The ICE Futures Canada canola market saw some large price swings during the week ended Wednesday, but ended relatively steady compared to prices seven days earlier. The market is starting to move into a nervous spring trading pattern, which kept prices relatively rangebound and should continue for the next three to four […]

(Lisa Guenther photo)

CBOT weekly: Corn, soy look to test post-report floors, ceilings — April 1, 2015

CNS Canada — Chicago Board of Trade corn and soybean futures saw choppy activity over the past week as traders had spent much of the period positioning themselves ahead of the release of the U.S. Department of Agriculture’s prospective plantings report. That choppiness is expected to continue as the market digests the report’s data and […]

The gap between gasoline and diesel prices at retail has recently narrowed, as shown at this Winnipeg truck stop on April 1. (Dave Bedard photo)

Diesel prices expected to see pressure in second quarter — April 1, 2015

CNS Canada – The spring thaw may bring lower diesel prices to farmers in North America, according to a New Jersey-based oil expert. “A lot of new refining, worldwide, is coming on for diesel,” said Tom Kloza, chief oil analyst at the Oil Price Information Service. Compared to other fuels such as gasoline or jet […]

(Lisa Guenther photo)

U.S. grains: Soy extends rally sparked by plantings report — April 1, 2015

Chicago | Reuters – U.S. soybean futures jumped 1.6 per cent on Wednesday, their third straight day of gains, as the U.S. government’s forecast for smaller-than-expected plantings of the oilseed continued to fuel buying. Corn and wheat also rose, rebounding from sharp losses on Tuesday as bargain buyers stepped in despite huge global supplies. A […]

(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME live cattle futures mixed — April 1, 2015

Chicago | Reuters -- Chicago Mercantile Exchange front-month live cattle closed higher on Wednesday, supported by the anticipation of steady to higher cash trade later this week, traders said. April closed 0.5 cents per pound higher at 161.825 cents and June closed 0.05 cent lower at 152.275 cents (all figures US$). Last week, cash cattle […]

Canadian forex review: C$ firms with crude oil — April 1, 2015

By Commodity News Service Canada WINNIPEG, April 1 – The Canadian dollar was firmer relative to the US dollar on Wednesday, finding some spillover support from the gains seen in crude oil values, analysts said. The Canadian dollar closed at US$0.7920 or US$1=C$1.2626 on Wednesday, which compares with Tuesday’s North American settlement of US$0.7895 or […]

North American grain/oilseeds review: canola strengthens with soybeans — April 1, 2015

By Terryn Shiells, Commodity News Service Canada WINNIPEG, April 1 – The ICE Futures Canada canola market moved higher on Wednesday, following the rally seen in Chicago soybean futures. Further spillover support came from the gains seen in Chicago soyoil and Malaysian palm oil futures, analysts said. Some chart-based buying, steady commercial demand and the […]