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Crops Crops

ICE January 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola still rangebound but upside possible

Crush margins expected to stay high for now

By
MarketsFarm — The ICE Futures canola market traded within a certain range for the week ended Wednesday, but one trader believes that wide crush margins will take prices over the psychological resistance level. Since nearly hitting the $900 per tonne mark on Nov. 15, the January canola contract declined for eight straight sessions before going […] Read more
(Vonkara1/E+/Getty Images)
Crops, Markets, Weather

Opinions divided ahead of StatCan production report

Agency's previous estimates model-based

By
MarketsFarm — Ahead of the crop production report from Statistics Canada (StatCan) due out Friday, trade expectations are above and below what the federal agency estimated in September. In August, and in September, StatCan issued production reports based on a satellite model and without any input from farmers filling out surveys. That has caused some […] Read more
CBOT March 2023 soft red winter wheat with 20-day moving average (dark green line), MGEX March 2023 hard red spring wheat (yellow line) and K.C. March 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat rises on short-covering, China optimism

Wheat still lost nearly 10 per cent in November; soybeans rise on fresh China sales, corn down

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Winnipeg | Reuters — Chicago wheat rose for a second straight session on Wednesday, supported by end-of-the-month short-covering and investor hopes that China will loosen COVID-19 rules, although the grain declined sharply in November on competition from Black Sea supplies. Soybeans also ticked up, touching a two-month peak, as optimism that China will ease restrictions […] Read more
Corn in progress just east of Blumenort, Man. on July 20, 2022. (Dave Bedard photo)
Corn, Crops, Reuters

Mexico open to deal with U.S. on GMO corn

U.S. corn growers seek clarity over ban

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Mexico City | Reuters — Mexican President Andres Manuel Lopez Obrador said on Tuesday he is seeking a deal with Washington after the United States threatened legal action over Mexico’s plan to ban genetically modified (GMO) corn in 2024. After meeting with Mexican officials on Monday, U.S. Secretary of Agriculture Tom Vilsack said Mexico’s decree […] Read more
CBOT March 2023 soft red winter wheat with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat inches higher on hopes China will ease COVID-19 measures

Corn slips on export demand concerns

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Winnipeg | Reuters — Chicago wheat finished slightly higher on Tuesday after the previous day’s three-month low, as investors saw hope that China would ease measures to counter COVID-19 infections after rare protests in the country unsettled markets a day earlier. Soybeans also gained on optimism about China, but corn dipped over concerns about export […] Read more
File photo of a BNSF grain train crossing the Gassman Coulee trestle near Minot, North Dakota. (Photo courtesy BNSF Railway)
Crops, Machinery, Markets, Reuters

Biden asks Congress to avert U.S. rail strike

U.S. president warns of dire economic impact

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Washington | Reuters — U.S. President Joe Biden on Monday called on Congress to intervene to avert a potential rail strike that could occur as early as Dec. 9, warning of a catastrophic economic impact if railroad service ground to a halt. Biden asked lawmakers to adopt the tentative deal announced in September “without any […] Read more
(Dave Bedard photo)
Canola, Crops, Markets

Fund position back to net short in canola

MGEX wheat also shifts to net short: CFTC

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MarketsFarm — Heavy long-liquidation in ICE Futures canola saw the managed money speculative position flip back to a net short after a brief flirtation with a net long, according to the latest Commitment of Traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The weekly report was delayed one day due to last […] Read more
CBOT March 2023 soft red winter wheat (candlesticks) with 20-day moving average (green line), MGEX March 2023 hard red spring wheat (yellow line) and K.C. March 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat tumbles to three-month low in broad sell-off

Soybeans rise on export sales, renewable fuel talk

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Winnipeg | Reuters — Chicago wheat fell on Monday to a three-month low, as commodity and equity markets dropped on concern about the impact of rare protests in China against its strict anti-COVID-19 policy. Cheap supplies from Russia and elsewhere in the Black Sea are adding competition for U.S. wheat, and prices have slipped to […] Read more

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