Chicago soybean futures sank for a second consecutive session on Wednesday as the prospect of rain in Brazil eased worries about drought damaging harvest prospects in the world's top exporter.
Wheat
U.S. grains: Soybeans tumble on improving weather forecast for Brazil
Corn and wheat futures also traded lower
Argentina’s Milei to seek 15 per cent export tax hike on some grains: source
The new president pledged "shock" measures to fix the country's economic crisis
Argentina's new government of libertarian President Javier Milei will seek to raise export taxes to 15 per cent on some grains, though that would not impact tariffs on soy, an industry source told Reuters on Wednesday.
U.S. grains: Soy futures end down as traders eye Brazil weather
Wheat and corn futures advance
Chicago Board of Trade soybean futures backpedaled on Tuesday after reaching their highest price in December as traders assessed risks from unfavorable crop weather in Brazil.
U.S. grains: Soybeans finish higher on Brazil weather concerns, global demand
Wheat futures plummeted; corn pressured by spillover weakness
U.S. soybean futures rose on Monday as concerns re-emerged that drought conditions in Brazil are having a detrimental effect on crops in the top-producing nation and after the U.S. government announced another export sale.
U.S. grains: CBOT grain, soybean futures tumble after monthly USDA data
U.S. government reported sales of 1,120,000 tons of soft red wheat to China this week
U.S. soybean futures fell on Friday after the Department of Agriculture's updated estimate of Brazil's soybean harvest fell toward the high end of trade expectations, easing concerns about global supplies of the oilseed.
USDA lowers wheat carryout calls, minor adjustments elsewhere
Corn production in Argentina and Brazil left unchanged in new report
Wheat ending stocks in the United States and around the world may be tighter than earlier thought, according to the latest supply/demand estimates from the U.S. Department of Agriculture released Dec. 8.
U.S. grains: Soybeans rally ahead of Argentina’s inauguration of Milei, U.S. export sales
The libertarian president-elect has pledged to dollarize the economy, leading to devaluation rumours
U.S. soybean futures rose on Thursday on a fresh round of export sales and the prospect of Argentina's new President Javier Milei devaluing the nation's currency after he takes office over the weekend, analysts said.
China accounting for bulk of Canadian canola exports so far
Chinese wheat imports roughly half of last years' at same time
China has done most of the heavy lifting when it comes to Canadian canola exports through the first three months of the 2023/24 marketing year (Aug/Jul), according to the latest international trade data released Dec. 6.
Statistics Canada reported canola exports through October at 1.566 million tonnes, with China accounting for 64 per cent of the total (1.006 million tonnes). Japan and Mexico followed at 273,300 tonnes and 196,900 tonnes respectively.
U.S. grains: Wheat rises on third day of US sales to China; soy, corn retreat
Corn and soybean were pressured by weather forecasts for Brazil and parts of South America
Chicago wheat pared gains on Wednesday after touching a four-month high following a third straight day of private sales of U.S. wheat to China, the largest wave of Chinese purchases in almost a decade.
U.S. grains and oilseeds trading South American weather/charts
Wheat rallied around Chinese purchases, soybeans came under pressure
The seasonal slowdown in the North American grain and oilseed markets has traders in the Chicago futures taking direction from shifting weather forecasts out of South America, with technical chart signals also at play in the futures heading into the New Year.