Chicago Board of Trade (CBOT) soybean futures rose on Thursday on bargain buying and signs of renewed export demand after the most-active contract Sv1 fell to a nearly four-year low in early trading, analysts said.
Despite a weakened United States dollar on July 17, activity in the grains at the Chicago Board of Trade was choppy, according to broker Ryan Ettner of Allendale Inc. in McHenry, Ill. Added to that, Ettner pointed out the speculative funds resumed accumulating very large short positions in corn and soybeans.
As farms have increased in size, their storage requirements now mean far greater quantities of a single crop, whether it be canola or wheat. This means higher capacity, flat-bottomed bins. These are often centrally located, with larger capacity handling equipment and sometimes permanently installed handling equipment.
Warmer conditions across Manitoba during the week ended July 16 helped advance crop growth, with recent rainfall leaving most of the province with wet or optimal soil moisture conditions, according to the latest provincial crop report.
Chicago soybean and corn futures firmed on Tuesday after hitting multi-year lows on bargain buying and forecasts for lower harvests in some parts of the world, according to analysts.
With the peas harvest in Alberta about a month away, prices have been beginning to slip back according to Kyle Sinclair, chief executive officer for Producer Profit in Lacombe, Alta.
Limagrain has some small red lentil varieties ready for commercialization, Benzon Lorenzana, the company’s head of cereals and pulse research for North America, said during the Ag in Motion show.
U.S. grains merchant Bunge has offered to sell Viterra's crush and refining plants for oilseeds in Hungary and Poland in order to secure EU antitrust approval for the $34 billion merger, a person close to the deal said on Tuesday.
U.S. soybean futures fell to their lowest level in nearly four years on Monday and corn and wheat futures followed the weaker trend as rains bolstered Midwest production prospects and traders worried about demand for big crops, analysts said.