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Crops, Markets, Spring Wheat

Prairie cash wheat: U.S. futures drag down wheat bids

Potential for more interest rate hikes remains

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MarketsFarm — Hawkish comments from the chair of the U.S. Federal Reserve and the possible renewal of the Black Sea Grain Initiative brought down wheat futures on the Chicago Board of Trade (CBOT) for the week ended Thursday — and, in turn, pressured western Canadian wheat bids. In front of the U.S. Senate banking committee […] Read more
CBOT March 2023 soft red winter wheat with 20-day moving average, 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 nears one-month low on Black Sea competition

Chicago soybeans, corn also lower

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Chicago | Reuters — U.S. wheat futures fell to their lowest in nearly a month on Wednesday as an Egyptian purchase tender highlighted export competition from the Black Sea region, tempering worries about war disruption to Ukrainian supplies, analysts said. Soybean futures fell on profit-taking and expectations of increasing soy export competition from Brazil, where […] Read more
CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

CBOT weekly outlook: Wide array of factors affecting grain prices

Corn, soy see speculative profit-taking

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MarketsFarm — Recent rains in parts of South America, as well as a correction in the markets, have paused rallies in corn and soybeans on the Chicago Board of Trade (CBOT), according to one trader. Jack Scoville, vice-president of The Price Futures Group in Chicago, said that while central and southern Argentina are still mired […] Read more
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Crops, Markets

CBOT weekly outlook: Weather outweighs U.S. Fed rate hike announcement

'People are returning to the Argentine situation'

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MarketsFarm — Week-long rallies for grain futures on the Chicago Board of Trade (CBOT) were disrupted by the U.S. Federal Reserve’s latest key interest rate announcement on Wednesday. The Fed revealed it is raising its key interest rate by 25 basis points in its ongoing fight against inflation. While the central bank acknowledged inflation is […] Read more
CBOT March 2023 soybeans with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy sags as Brazil’s harvest looms

Wheat mixed, corn ends firm

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Chicago | Reuters — U.S. soybean futures fell about one per cent on Wednesday as traders focused on the expanding harvest of a likely record-large soy crop in Brazil and positioned for the U.S. Federal Reserve’s decision on interest rates, analysts said. Wheat futures ended mixed, with the most-active March contract down on profit-taking, while […] Read more
ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Sideways canola market watching macros

USDA report may offer nearby direction

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MarketsFarm — ICE Futures canola contracts remain stuck in a sideways trading range to start the New Year, with bearish outside forces countered by relatively supportive fundamentals. From a chart standpoint, March canola is stuck in a sideways range between $800 and $900, with little to suggest a break one way or the other for […] Read more
CBOT January 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Rains in drought-hit Argentina pressure CBOT futures

Recession fears add pressure to markets, analysts say

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Chicago | Reuters — Chicago Board of Trade grain and soybean futures slid on Monday after beneficial rains hit Argentina’s drought-stricken agricultural zone, analysts said. Argentina is the world’s leading exporter of processed soy, but its usually green Pampas plains have been hit by a historic drought that is preventing many farmers from planting their […] Read more
CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn, wheat futures fall on fund selling

Soybean futures rise

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Chicago | Reuters — U.S. corn and wheat futures dipped on Friday, with concerns about a weakening global economy deterring traders from extending gains made earlier this week. “Fund managers continue to interpret their supply and demand fundamentals through a lens coloured by recession fears,” Arlan Suderman, chief commodities economist at brokerage StoneX, said in […] Read more
CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn, wheat futures ease

Chicago soybean futures firm

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Chicago | Reuters — U.S. corn and wheat futures fell on Wednesday after hitting 11-day highs a day earlier as traders waited for more bullish news before pushing grain prices above those recent peaks. Soybeans were firm, shedding overnight weakness, with investors hoping that export demand for U.S. supplies of the oilseed will remain strong […] Read more

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