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

U.S. grains: Corn, soy futures soar on dry weather worries

Chicago July wheat also higher

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Chicago | Reuters — U.S. corn futures hit their highest levels in nearly two months and soybeans hit a one-month high on Thursday as forecasts for continued dry weather in portions of the Midwest crop belt raised concerns about yield prospects, analysts said. Chicago Board of Trade (CBOT) wheat futures surged about five per cent […] Read more
CBOT July 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans reach one-month high on weather woes

Wheat up, corn mixed

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Chicago | Reuters –– U.S. soybean futures hit a one-month high on Tuesday on worries about dry conditions in the Midwest hurting crop prospects and spillover strength from crude oil, traders said. Corn futures were mostly higher on the Midwest weather jitters, but the nearby July contract fell on profit-taking and worries about demand for […] Read more
NYMEX August 2023 West Texas Intermediate crude oil, with August 2023 Brent crude oil (black line). (Barchart)
Crops, Machinery, Markets

Extent of Saudi oil production cut unclear

Reported tensions within OPEC limit price gains

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MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably […] Read more
Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets

CBOT weekly outlook: Quick seeding bringing down prices 

U.S. debt ceiling negotiations affected crude oil prices, agricultural commodities mostly immune

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MarketsFarm – Prices for corn, soybeans and wheat on the Chicago Board of Trade (CBOT) were pressured by fast planting paces during the week ended May 31, according to one trader.  The U.S. Department of Agriculture (USDA) reported on May 30 that 92 per cent of the country’s corn crop was planted as of Sunday, […] Read more
CBOT July 2023 soft red winter wheat with 20- and 50-day moving averages, MGEX July 2023 hard red spring wheat (yellow line) and K.C. July 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat, corn, soy fall on uncertain demand, weather

Sagging equities, crude oil also bearish on grains

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Chicago | Reuters — U.S. wheat, corn and soybean futures tumbled on Tuesday, pressured by macroeconomic worries, strong competition for global grain export business and some forecasts for beneficial Midwest rains next month that could bolster production prospects, analysts said. “The wetter outlook removed the one factor providing stability for the grain and oilseed markets, […] Read more
ICE November 2023 canola with Bollinger bands (20,2) and July 2023 canola (green line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Don’t bank on $700 canola, analyst suggests

Fresh bullish news not yet in view

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MarketsFarm — New-crop canola prices on ICE Futures seemed to be destined to remain well below $700 per tonne, according to analyst Errol Anderson of ProMarket Communications in Calgary. “The market tends to be back where it came from,” Anderson said, stressing that chances of canola pushing higher requires fresh bullish news. “It’s got to […] Read more
A smoke column rises from a wildfire on May 4, 2023 near Lodgepole, Alta., about 30 km southwest of Drayton Valley. (Photo: Alberta Wildfire handout via Reuters)
Livestock, Reuters, Weather

Alberta wildfire fighters prepare for hot, dry days ahead

Temperatures to approach 30 C next week

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Reuters — An extended period of hot, dry weather that risks worsening wildfires in Alberta began on Friday, with special weather alerts in place across Western Canada and officials urging people to be vigilant. More than 100 wildfires have ignited across Alberta since last week, forcing tens of thousands of people to evacuate homes, farms […] Read more
Smoke rises from a wildfire near Wildwood, Alta., about 100 km west of Edmonton, on May 5, 2023. (Photo: Alberta Wildfire/Handout via Reuters)
Livestock, Reuters, Weather

Alberta ‘crossing fingers’ for rain amid wildfires

CN mainline traffic west of Edmonton suspended

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Reuters — Firefighters were counting on rain and cooler weather forecast for Monday to help them quell a dramatic start to Alberta’s wildfire season. The province declared a state of emergency on Saturday in response to wildfires in northern and central regions that have displaced nearly 30,000 people and prompted energy producers to shut in […] Read more
CBOT May 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy closes higher on rising crude oil, stocks values

Ukraine Black Sea grain deal extended for at least 60 days

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Mexico City | Reuters — Chicago Board of Trade soy futures rallied from a three-month low to close higher on Monday, catching a tailwind from U.S. stocks reassured by the announcement that UBS agreed to buy battered rival Credit Suisse, analysts said. Gains in oil prices also pushed up soybeans, which are used in ethanol […] Read more

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