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File photo of wheat south of Ethelton, Sask. on Aug. 1, 2022. (Dave Bedard photo)
Crops, Markets

CBOT weekly outlook: U.S. wheat futures correct higher

Traders' eyes remain on weather

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MarketsFarm — After dropping to their weakest levels of the past two years, U.S. wheat futures were due for the corrective bounce that saw all three markets posted sharp gains on Wednesday. Soybeans and corn saw spillover support from the rally in wheat, with all three markets watching weather conditions through the growing season. U.S. […] Read more
Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets, Reuters

U.S. grains: Wheat rallies as tensions rise between Russia, Ukraine

Recent rains may not be enough to save U.S. wheat, traders say

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Mexico City | Reuters — Chicago wheat rebounded from a 25-month low to close higher on Wednesday, edging up on fresh tensions between Russia and Ukraine that cast doubt on the future of the Black Sea grains corridor, analysts said. Corn also gained on the tensions. Soybeans, meanwhile, followed with a rally after touching a […] Read more
Trucks wait for crossing into Poland at the Rava-Ruska border checkpoint in Ukraine’s Lviv region on April 17, 2023. (Photo: Reuters/Roman Baluk)
Crops, Markets, Reuters

EU sets Ukraine grain import restrictions in five countries until June 5

Supports pledged for farmers in those countries

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Brussels | Reuters — The European Commission said on Tuesday it set restrictions until June 5 on imports of Ukrainian wheat, maize, rapeseed and sunflower seed to ease the excess supply of these grains in Bulgaria, Hungary, Poland, Romania and Slovakia. The EU executive arm said that during that period, Ukrainian wheat, maize, rapeseed and […] Read more
CBOT July 2023 soft red winter wheat with 20-day moving average, Minneapolis July 2023 hard red spring wheat (yellow line) and K.C. July 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago wheat hits 25-month session low on good crop conditions

Market eyes talks on Black Sea grain corridor

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Mexico City | Reuters — Chicago wheat hit a 25-month low in the session to close lower on Tuesday, on weather that looked good for U.S. crop development and improving crop conditions. Wheat has been pressured down in recent days after the winter wheat crop rating as of Sunday was up two points from the […] Read more
(Dave Bedard photo)
Crops, Markets

Fund short position in canola grows for first time in a month

Corn moves from net long to net short

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MarketsFarm — After covering bearish bets for four straight weeks, managed money fund traders were back on the sell side of the canola market in late April, covering longs and putting on new short positions. According to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC), as of April 25, […] Read more
CBOT July 2023 soft red winter wheat with 20-day moving average, Minneapolis July 2023 hard red spring wheat (yellow line) and K.C. July 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat futures sink on rains, global supplies

U.S. winter wheat conditions likely improved in past week

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Chicago | Reuters — U.S. wheat futures tumbled to fresh lows on Monday on ample world supplies, sluggish U.S. export demand and beneficial rains in key production areas of the Plains and Midwest. Corn futures slumped on forecasts for favourable Midwest planting weather and lagging U.S. export sales, while soybeans edged higher in a technical […] Read more
Trucks wait for crossing into Poland at the Rava-Ruska border checkpoint in Ukraine’s Lviv region on April 17, 2023. (Photo: Reuters/Roman Baluk)
Crops, Markets, Reuters

Deal reached to resume Ukraine grain transit with five EU countries

Agreement includes support package for local farmers

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Brussels | Reuters — The European Commission said Friday it had reached a deal in principle to allow transit of Ukrainian grain to resume through five European Union countries that had imposed restrictions. Bulgaria, Hungary, Poland, Romania and Slovakia cited concerns that grain from Ukraine meant to be exported to other countries had ended up […] Read more
CBOT July 2023 soft red winter wheat with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago grains up off new lows, end week higher

Wheat rebounds off another 21-month low

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Reuters — Chicago grain and soybean futures ended higher on Friday after posting fresh lows earlier as traders anticipated hefty global supplies and kept an eye on weather in the U.S. Bouts of short covering ahead of the weekend lifted contracts after corn, soy and wheat futures all struck multi-month lows this week. Recent rains […] Read more
U.S. and Canadian beef cow slaughter has been higher than expected throughout the first quarter of 2023, but this is expected to change.
Cattleman’s Corner, Feed markets, Markets

Feeder cattle prices to peak this November

Market Update with Jerry Klassen: The fall of 2023 is not a good time to think about backgrounding calves

By
U.S. and Canadian feeder cattle prices have been trending higher over the past year. As of late March, quality genetic steers with medium to lower flesh, averaging 950 pounds were valued at $244 in Central Alberta. Higher quality heifers with lower flesh were trading at an $18-$20 discount to steers. Calf prices were also nearing […] Read more
CBOT July 2023 soft red winter wheat with 50-day moving average, Minneapolis July 2023 hard red spring wheat (yellow line) and K.C. July 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago wheat, corn hit fresh lows

Export competition, China cancellations drag on futures

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Mexico City | Reuters — Chicago wheat futures fell for a seventh straight session on Thursday and touched a 21-month low on export competition while corn hit a nine-month low, walloped by cancellations of U.S. corn sales to China. The most-active wheat contract on the Chicago Board of Trade (CBOT) dropped 12-3/4 cents to settle […] Read more

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