GFM Network News

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Prairie cash wheat: Prices rise as worldwide stocks fall

U.S. December wheat futures up on week

MarketsFarm — Continued tightening of worldwide wheat stocks has raised spring wheat prices in Western Canada during the week ended Thursday. As winter wheat planting in North America and Europe begins, dry conditions remain a threat not only in North America, but also in Argentina and Russia. The U.S. Department of Agriculture (USDA) also predicts […] Read more

CBOT December 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)

U.S. grains: Wheat firms on global supply cuts

Corn inches higher as U.S. crop ratings decline

Chicago | Reuters — Chicago wheat futures firmed two per cent on Tuesday, strengthened by global supply concerns amid strong demand, while a weaker U.S. dollar supported U.S. trade. Corn inched higher after a weekly decline in U.S crop conditions reported by the U.S. Agriculture Department (USDA). Soybeans traded both sides of even before easing […] Read more

MGEX December 2021 spring wheat (candlesticks) with Bollinger bands (20,2). (Barchart)

U.S. grains: Wheat futures fall, soybeans rise, corn flat

Chicago | Reuters — U.S. wheat futures fell on Wednesday, dragged lower by a firmer dollar that threatened to make U.S. supplies less competitive on the export market, traders said. Corn futures steadied after sinking to their lowest in two months early in the day, with bearish harvest expectations limiting any rally attempts. “Corn recovered […] Read more

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Prairie cash wheat: Spring wheat bids mixed, durum jumps

U.S. December wheat futures down on week

MarketsFarm — Increased worldwide demand for wheat and precipitation across the Prairies have resulted in mixed spring wheat bids for the week ended Thursday. Scattered showers across wheat-growing areas in Western Canada, as well as the ongoing spring wheat harvest, have brought downward pressure on the markets. The rising Canadian dollar also served to lower […] Read more

Grain storage at a Russian seaport. (Pridannikov/iStock/Getty Images)

Tax, competition expected to prolong Russian wheat export season

Tax complicates forward sales for exporters

Moscow | Reuters — Exports of Russian wheat will stretch well into the second half of the season as Moscow’s export tax and tough competition with Ukraine and Romania slow sales until the end of 2021, traders and analysts said. Russia, the world’s largest exporter of wheat, generally sells most of its crop during the […] Read more

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Prairie cash wheat: Big jump for durum

U.S. futures, lower loonie supportive for cash wheat bids

MarketsFarm — Wheat bids in Western Canada for the week ended Thursday were higher for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats, while there were sharp increases for Canada Western Amber Durum (CWAD). Gains in U.S. wheat markets supported values, as did a steep drop for the Canadian dollar. Average […] Read more

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U.S. grains: Wheat rises to 8-1/2-year highs on world supply worries

Chicago | Reuters – U.S. wheat futures climbed to 8-1/2-year highs on Friday and European wheat futures extended gains, led by fresh contract highs in Paris, after steep cuts to world stockpiles in a U.S. government report fuelled supply worries, analysts said. Soybean futures rose on fears of tightening global vegetable oil supplies, but corn […] Read more

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U.S. grains: CBOT wheat stabilizes after rally as traders await U.S. crop data

Chicago | Reuters – Chicago Board of Trade wheat futures stabilized on Wednesday as traders adjusted positions ahead of a U.S. government crop report, a day after prices jumped on concerns about tightening global inventories. The U.S. Department of Agriculture is set to issue an update on global grain supplies and demand in a monthly report on […] Read more