Squeezed supply, improved Chinese demand and the global energy transition will keep commodity prices elevated in 2024, before falling the following year, forecasted British banking group HSBC today.
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Commodity prices to remain high in 2024, drop in 2025 – HSBC
Most agricultural products expected to outperform energy, industrial metals amid supply constraints, dry weather
U.S. grains: Soybeans set 6-1/2-week high
Weaker U.S. dollar lifts grains complex
Chicago | Reuters — U.S. soybean futures touched a 6-1/2-week high on Friday, lifted by uneven crop weather in top soy producer Brazil and fresh export demand for U.S. supplies, coupled with a plunge in the dollar that bolstered corn and wheat futures as well. Chicago Board of Trade (CBOT) January soybean futures settled up […] Read more
CBOT weekly outlook: Demand, not interest rates, affecting markets
U.S. Fed decision 'pretty much factored in'
MarketsFarm — While key interest rates in the United States will stay put for the time being, corn and wheat prices on the Chicago Board of Trade (CBOT) declined steadily during the week ended Wednesday. The U.S. Federal Reserve announced earlier Wednesday that the central bank’s policy rate will remain within 5.25 and 5.5 per […] Read more
ICE weekly outlook: Canola pulling lower
Futures subject to 'financial gravity'
MarketsFarm — Canola futures on the Intercontinental Exchange kicked off the week of Oct. 23-27 with sharp losses, as the most heavily traded January contract busted through its support level of $700 per tonne. Among the reasons for canola’s steep fall, as David Derwin pointed out, were the better than average yields from this year’s […] Read more
U.S. livestock: CME hog futures hit contract lows
Cattle futures also sag
Chicago | Reuters — Lean hog futures on the Chicago Mercantile Exchange fell to life-of-contract lows on Friday and cattle futures also retreated, pressured by technical selling and worries that a slowing global economy could hurt demand for meat, traders said. Hog futures fell the most, with the benchmark December contract settling down two cents, […] Read more
U.S. grains: Soybeans end up in bounce from one-month low
Chicago wheat, corn futures firm
Reuters — U.S. soybean futures rose on Friday in a light technical rebound from six-week lows while corn and wheat also ticked higher on bargain-buying, but gains in all three markets were limited by a strong U.S. dollar, analysts said. Chicago Board of Trade (CBOT) November soybeans settled up 2-1/2 cents at $12.96-1/4, bouncing after […] Read more
U.S. grains: Soybeans fall to one-month low on export woes
CBOT corn, wheat end down
Chicago | Reuters — U.S. benchmark soybean futures fell below US$13 a bushel on Thursday for the first time in a month while corn and wheat futures held near multi-year lows on downbeat weekly export sales, an expanding U.S. harvest and economic worries, analysts said. Chicago Board of Trade November soybeans settled down 26-1/4 cents […] Read more
ICE weekly outlook: Which way will canola go?
Basis levels have recently improved
MarketsFarm — As September winds down, ICE Futures canola is poised to either climb higher or fall back, according to analyst Errol Anderson, president of ProMarket Communications in Calgary. That movement will largely be determined by the direction taken by November soybeans on the Chicago Board of Trade, which currently has support at US$13 per […] Read more
CBOT weekly outlook: Funds getting out of soybeans
Potential for U.S. government shutdown a concern
MarketsFarm — While corn and wheat prices on the Chicago Board of Trade (CBOT) stayed fairly steady during the week ended Wednesday, soybean prices steadily declined. The November soybean contract dropped 30 cents per bushel from one week ago to close Wednesday at $13.1975/bu. (all figures US$). During the same week, December corn only lost […] Read more
FCC offers new credit line against ‘current economic environment’
Ag lender to waive loan processing fees
Farm Credit Canada’s recent outreach to specific agrifood sectors hit by unusual environmental conditions has now extended to those hit by the broader “economic environment.” The federal ag lender on Tuesday said it will offer an unsecured credit line of up to $500,000 with loan processing fees waived, “to help producers, agribusinesses and agri-food operations […] Read more
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