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ICE July 2023 canola with 20-day moving average and November 2023 canola (yellow open/high/low/close). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Expect canola to climb higher

Seeding reported underway in southern Alberta

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MarketsFarm — As better-than-expected weather across the Canadian Prairies is very likely to spur on farmers to begin their spring seeding, the market is poised to push higher over the next couple of months, according to an analyst. “We have come down to the low end of the range,” said David Derwin, commodity futures advisor […] Read more
File photo of wheat south of Ethelton, Sask. on Aug. 1, 2022. (Dave Bedard photo)
Crops, Markets

CBOT weekly outlook: U.S. wheat futures correct higher

Traders' eyes remain on weather

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MarketsFarm — After dropping to their weakest levels of the past two years, U.S. wheat futures were due for the corrective bounce that saw all three markets posted sharp gains on Wednesday. Soybeans and corn saw spillover support from the rally in wheat, with all three markets watching weather conditions through the growing season. U.S. […] Read more
Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets, Reuters

U.S. grains: Wheat rallies as tensions rise between Russia, Ukraine

Recent rains may not be enough to save U.S. wheat, traders say

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Mexico City | Reuters — Chicago wheat rebounded from a 25-month low to close higher on Wednesday, edging up on fresh tensions between Russia and Ukraine that cast doubt on the future of the Black Sea grains corridor, analysts said. Corn also gained on the tensions. Soybeans, meanwhile, followed with a rally after touching a […] Read more
CBOT July 2023 soft red winter wheat with 20-day moving average, Minneapolis 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: Chicago wheat hits 25-month session low on good crop conditions

Market eyes talks on Black Sea grain corridor

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Mexico City | Reuters — Chicago wheat hit a 25-month low in the session to close lower on Tuesday, on weather that looked good for U.S. crop development and improving crop conditions. Wheat has been pressured down in recent days after the winter wheat crop rating as of Sunday was up two points from the […] Read more
CBOT July 2023 soft red winter wheat with 20-day moving average, Minneapolis 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 futures sink on rains, global supplies

U.S. winter wheat conditions likely improved in past week

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Chicago | Reuters — U.S. wheat futures tumbled to fresh lows on Monday on ample world supplies, sluggish U.S. export demand and beneficial rains in key production areas of the Plains and Midwest. Corn futures slumped on forecasts for favourable Midwest planting weather and lagging U.S. export sales, while soybeans edged higher in a technical […] Read more
CBOT July 2023 soft red winter wheat with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Chicago grains up off new lows, end week higher

Wheat rebounds off another 21-month low

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Reuters — Chicago grain and soybean futures ended higher on Friday after posting fresh lows earlier as traders anticipated hefty global supplies and kept an eye on weather in the U.S. Bouts of short covering ahead of the weekend lifted contracts after corn, soy and wheat futures all struck multi-month lows this week. Recent rains […] Read more
CBOT July 2023 soft red winter wheat with 50-day moving average, Minneapolis 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: Chicago wheat, corn hit fresh lows

Export competition, China cancellations drag on futures

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Mexico City | Reuters — Chicago wheat futures fell for a seventh straight session on Thursday and touched a 21-month low on export competition while corn hit a nine-month low, walloped by cancellations of U.S. corn sales to China. The most-active wheat contract on the Chicago Board of Trade (CBOT) dropped 12-3/4 cents to settle […] Read more
ICE July 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: StatCan’s canola area estimate questioned

Traders predict significant increase ahead

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MarketsFarm — Statistics Canada on Wednesday released its first survey-based seeding intentions report for the 2023-24 marketing year, reporting an anticipated 0.9 per cent rise in canola acres, to 21.6 million. The figure occupied the lower end of trade expectations, but StatCan recently adopted a new methodology of conducting the survey last December and January, […] Read more
File photo of a barley seedling. (SusanHSmith/iStock/Getty Images)
Cereals, Crops, Markets

Feed weekly outlook: Grain area to increase this year

Oats area expected to be reduced

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MarketsFarm — Early signs point to increased Canadian feed grain production in 2023-24, with record corn acreage intentions and increases in both barley and wheat area on the year, according to the latest estimates from Statistics Canada. Planted corn area in the country is forecast at 3.725 million acres in 2023, which would be up […] Read more
CBOT July 2023 soft red winter wheat with 100-day moving average, Minneapolis July 2023 hard red spring wheat (yellow line) and K.C. July 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Chicago wheat closes down as global supplies look strong

Market monitoring Plains rain relief, Black Sea grain talks

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Mexico City | Reuters — Chicago grains and soybean futures closed lower to mixed on Wednesday, as traders eyed sluggish demand and upcoming U.S. export sales data. Wheat fell on news of ample short-term global supplies, despite the risk that an agreement allowing exports from war-torn Ukraine may end next month. Canadian farmers intend to […] Read more

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