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Soybeans

CBOT November 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybean, corn futures weaken as harvests progress

CBOT wheat rises on bargain buying

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Chicago | Reuters — Chicago Board of Trade soybean futures finished lower on Monday as advancing U.S. harvests uncovered strong yields and increased farmers’ sales of their crops, analysts said. Pressure from harvests also hung over corn futures. U.S. farmers have finished harvesting 76 per cent of the country’s soybeans and 59 per cent of […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

Managed money adding to net short positions in canola

Canola at biggest net short position in months

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MarketsFarm — Managed money fund traders remain bearish canola, growing the net short position in the ICE Futures market to the second largest level of the past year, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Oct. 17, the net managed money short position in […] Read more
CBOT December 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn drops back below US$5

Soybeans down off one-month high

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Chicago | Reuters — Chicago Board of Trade corn futures closed lower after hitting their highest price since August on Friday, while soybean futures retreated from a one-month high. Traders took profits after the markets rose earlier on concerns about a drought in Brazil disrupting grain shipments on rivers and slowing soy plantings, analysts said. […] Read more
File photo of vessels on the Mississippi River south of New Orleans on Nov. 5, 2017. (Dave Bedard photo)
Crops, Reuters, Weather

Low water on Mississippi to persist despite improved drought outlook

Risk of getting stuck mean less grain per barge

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Chicago | Reuters — Low water levels on the lower Mississippi River are likely to persist through at least January despite expected above-normal precipitation across the southern U.S. this winter, forecasters with the National Oceanic Atmospheric Administration (NOAA) said on Thursday. The severe to exceptional drought choking the lower Mississippi River valley is expected to […] Read more
Sea surface temperature (SST) anomalies in degrees Celsius on Oct. 18, 2023. (NOAA.gov)
Crops, Reuters, Soybeans, Weather

El Nino worries Brazil soy farmers as planting progresses, grain lobby says

Dry weather has pushed back planting

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Sao Paulo | Reuters — Soybean farmers in top growing state Mato Grosso worry that scarce rains and high temperatures will lead to replanting of some areas while lowering yields in others, local grain farmer lobby Aprosoja-MT said Thursday. The unusual heat and dryness has been linked to the El Nino weather pattern, which is […] Read more
One Canada Square (tower at centre) houses the London head office of the International Grains Council (IGC). (Iliffd/iStock/Getty Images)
Crops, Markets

Cuts to corn output drag IGC’s overall estimates lower

Wheat production estimate up, soy down

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MarketsFarm — Reductions to global corn production for 2023-24 resulted in the International Grains Council cutting some of its numbers in its monthly supply and demand report issued Thursday. The London-based IGC reduced its forecast for world corn output from its September call of approximately 1.222 billion tonnes, to 1.219 billion. Although total use in […] Read more
CBOT December 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn futures rally to August high

Strong demand in U.S. supports CBOT soybeans

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Chicago | Reuters — U.S. corn futures rallied above US$5 a bushel to their highest level since August on Thursday, while soybean futures touched a four-week high. The gains came as farmers are in the middle of harvesting their crops, a time when the influx of fresh supplies normally pressures prices. A severe drought that […] Read more
ICE November 2023 canola with 20- and 50-day moving averages and January 2024 canola (black line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Upside seen for canola prices

'Aggressive manipulation' seen as a factor

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MarketsFarm — Early gains were followed by late losses on ICE Futures’ canola market during the week ended Wednesday. The November canola contract began the week at $704.60 per tonne before rising up to $725.80/tonne on Monday, then ending the week at $711.70. The January contract went in similar directions, starting at $710.10/tonne before moving […] Read more
Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets, Weather

CBOT weekly outlook: Corn rangebound, soybeans rising, wheat erratic

Chicago wheat fluctuation 'just drives you nuts'

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MarketsFarm — While soybean futures at the Chicago Board of Trade have moved higher over the past week, corn was rangebound and wheat lacked any clear direction in choppy trade, making it hard to predict where values may go from here, according to Scott Capinegro of Barrington Commodities in Barrington, Ill. Capinegro said the December […] Read more
CBOT December 2023 soft red winter wheat with 20-day moving average, MGEX December 2023 hard red spring wheat (yellow high/low/close) and K.C. December 2023 hard red winter wheat (orange H/L/C). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat firms on bargain buying, corn follows suit

Soybeans hit three-week high

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Chicago | Reuters — Chicago wheat futures rose for the first time in three sessions on bargain buying on Wednesday, with corn futures following, traders said. Wheat futures also gained a mid-session boost on rekindled market speculation that India, a leading wheat producer, may be tight on supplies. India raised the price at which it […] Read more

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