Despite the majority of all three major United States crops being in good to excellent condition, hot weather and speculative fund buying have lifted prices at the Chicago Board of Trade (CBOT).
CBOT Weekly: Weather, fund buying raises prices
Manitoba Crop Report: Crops grow with additional heat
Warmer conditions helped crops across Manitoba advance in their development during the week ended July 21, according to the province’s weekly crop report.
Pulse Weekly: Heat hasn’t affected Saskatchewan crops … yet
After heavy rainfall earlier this summer caused flooding in low-lying areas and washed out some pulse acres, Dale Risula said growers couldn’t wait for the heat to help crops develop. Now, the warmer and drier conditions are doing more harm than good.
AAFC makes changes in July estimates
Agriculture and Agri-Food Canada (AAFC) made a handful of changes to its July balance sheet released on July 22, compared to the month before.
ICE Weekly: Weather raising canola prices, trader says
Ken Ball of Ventum Financial Corp. in Winnipeg acknowledged that while dryness and warmer temperatures would be seen as beneficial in rain-drenched fields in Saskatchewan and Manitoba, heat stress on canola crops in Alberta would be aggravated. This has led traders to become a bit more bullish on the oilseed.
Saskatchewan Crop Report: Warm conditions advancing crop development
Warm and mostly dry conditions across Saskatchewan helped crops advance in their development during the week ended July 8, according to the latest provincial report.
Manitoba Crop Report: Crops continue to withstand rain showers
Manitoba experienced variable amounts of precipitation during the week ended July 7 as crops continued to develop despite excess moisture in most areas.
Pulse Weekly: Warm, dry weather needed in Manitoba
The Manitoba government’s pulse specialist said crops are in good condition across the province, but they need some hot temperatures in the days ahead.
ICE Weekly: ‘Soyoil scare’ fuels canola’s comeback
While the November contract fell below C$600 per tonne on June 26 for the first time since late February, it has since gained more than C$50 to close at C$652.70 on July 3. Earlier that day, the contract reached C$659.70, its highest level since June 7.
U.S. corn acres, grain stocks higher than expected
The planted area for U.S. corn in 2024 was determined to be 91.5 million acres, greater than the March USDA estimate of 90.04 million as well as the trade’s average guess of 90.35 million. However, the figure was nowhere close to last year’s acreage total of 94.64 million. After the release of the report, corn prices at the Chicago Board of Trade (CBOT) reacted bearishly with contracts losing more than 20 U.S. cents per bushel.