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Tag Archives soyoil

CBOT May 2021 corn with Bollinger (20,2) bands. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn steps back after export-led rally

Wheat nears three-month low on better U.S. weather; soyoil pulls soybeans higher

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Chicago | Reuters — Chicago corn futures dipped on Monday as improving South American crop weather added pressure to prices after export sales on Friday rallied the market. Soybeans were lifted by rallying soyoil futures, while wheat closed barely higher as favourable planting weather in the U.S. Great Plains and the Black Sea region limited […] Read more
ICE May 2021 canola (candlesticks) with 30-day moving average (green line) and CBOT May 2021 soyoil (yellow line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola’s correction likely short-lived given tight supplies

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MarketsFarm — The ICE Futures canola market ran into a profit-taking correction on Wednesday, backing away from recently-hit contract highs. While a further correction is possible, the underlying fundamentals remain supportive and canola is expected to retain its relative strength to other oilseeds. “The market needs bullish fuel, but it’s just not getting any,” said […] Read more
ICE March 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Profit-taking to pressure canola

Market appearing overdone

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MarketsFarm — ICE Futures canola contracts climbed to record highs during the week ended Wednesday as concerns over tightening old-crop supplies provided support. However, the market was looking overdone to the upside and profit-taking came forward to put some pressure on values. “The traders that are still long are playing the game of forcing the […] Read more
ICE January 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT January 2021 soyoil (green line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola holds over $600

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MarketsFarm — ICE Futures canola contracts were stronger Wednesday, hitting multi-year highs for three consecutive days. The nearby January contract closed at $602.90 per tonne on Wednesday, gaining nearly $10 since Friday’s close of $593.60. Ken Ball of PI Financial in Winnipeg said canola is expected to go higher in order to “kill off some […] Read more
CBOT January 2021 soybeans (candlesticks) with 20-day moving average (green line) and CBOT January 2021 soyoil (black line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans up one per cent as soyoil climbs

Corn up; wheat declines on global supply outlooks

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Chicago | Reuters — U.S. soybean futures rose about one per cent on Thursday, rallying on bargain buying after a two-week low set a day earlier and on uncertainty about South American crop prospects, traders said. Soybeans also drew support from strength in soybean oil futures, which advanced about two per cent on news of […] Read more
ICE January 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT January 2021 soyoil (blue line). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola stronger at midweek

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MarketsFarm — ICE Futures canola contracts were stronger on Wednesday, making up losses incurred earlier in the week. The nearby January contract closed Wednesday at $578.90 per tonne, gaining a few dollars after losing $7 in the prior day’s trade. Keith Ferley of RBC Dominion Securities in Winnipeg said canola’s losses were due to chart […] Read more
CBOT December 2020 corn with 20-, 50- and 100-day moving averages. (Barchart)
Corn, Crops, Markets, Soybeans

CBOT weekly outlook: Corn, soy continue rallies

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MarketsFarm — Commodities on the Chicago Board of Trade (CBOT) have appreciated a significant rally over the past weeks. Last week’s world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture (USDA) detailed lower-than-expected ending stocks for soybeans, which were bullish for soybean values. “Beans are on a mission right now,” said […] Read more
CBOT January 2021 soybeans (candlesticks) with 20-day moving average (green line) and CBOT January 2021 soyoil (yellow line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans hit fresh four-year peak on tightening supplies

Soyoil helps lift soybeans amid tight world veg oil supplies; good exports boost corn

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Chicago | Reuters — U.S. soybean futures rose to a new four-year peak Wednesday, led by sharply higher soyoil and as robust demand for beans from exporters and domestic processors fueled worries about tightening supplies of the oilseed. Corn and wheat followed soybeans higher, with strong export demand giving corn an additional lift. Grains remain […] Read more
CBOT November 2020 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy jumps on China demand, fund-driven buying

CBOT wheat, corn follow soybeans higher

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Chicago | Reuters — U.S. soybean futures surged to two-year highs on Wednesday on continued export demand from top global soy buyer China and fund-driven buying, analysts said. Corn and wheat futures followed soybeans higher, with additional support from a more than four per cent jump in U.S. crude oil prices. Corn and soyoil sometimes […] Read more

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