Chicago Board of Trade (CBOT) corn and wheat futures fell back on Thursday on a stronger dollar following rate cuts by the European Central Bank, technical trading and slower-than-anticipated weekly export sales, according to analysts.
Chicago Board of Trade corn futures jumped to a five-and-a-half month high on Tuesday, after the U.S. Department of Agriculture slashed domestic corn supply forecast by more than the market had expected.
India was the top customer for Canadian peas and lentils through the first three months of the 2024/25 marketing year, with total exports of both pulse crops running well ahead of the year ago pace.
Alberta Grains chair Tara Sawyer has been elected chair of the Grain Growers of Canada. Sawyer, a farmer from Acme, Alberta, is the first woman to hold the role, GGC said.
Chicago soybean futures dropped on Monday on expectations for a hefty South American crop, while corn futures rose as traders anticipated world supply and demand estimates from the U.S. Department of Agriculture will show smaller U.S. stockpiles.
South America's agricultural sector, a key source of global food, celebrated on Friday as the regional Mercosur bloc and the European Union struck a free trade agreement, though farmers said they wanted to see the small print of the deal.
U.S. soybean futures firmed on Thursday, led by strong gains in soyoil as a smaller-than-anticipated canola harvest outlook in Canada stoked worries about tightening global vegetable oil supplies.
While Statistics Canada reported more wheat was grown in 2024/25, canola production fell back as the agency issued its principal field crops report on Dec. 5.