Chicago Board of Trade grain and soybean futures rallied on Friday on money flow from managed funds, rising demand and weather concerns, analysts said.
Western Canadian spring wheat bids were steady to higher during the week ended April 11, while durum prices fell below the C$400 per tonne mark entirely.
Chicago corn futures dipped on Thursday after the U.S. Department of Agriculture projected domestic ending stocks will remain at a five-year high, despite a reduction from last month.
Chicago Board of Trade soy fell on Wednesday after hitting a one-month low as traders awaited a U.S. Department of Agriculture supply and demand report and Brazil's Conab crop forecast.
While the start of the week of Apr. 8 saw canola futures on the Intercontinental Exchange trade in a very narrow range, broker Jamie Wilton of RJ O’Brien in Winnipeg said that could soon change.
North American weather conditions should become a major influence on the activity in the grain and oilseed markets in the upcoming weeks as farmers turn their attention to spring seeding.
The U.S. Department of Agriculture is canceling its July cattle inventory report as well as county-level estimates for crops and livestock, the government said in a statement on Tuesday, citing budget constraints.
Chicago Board of Trade (CBOT) wheat, soy and corn futures fell for a second straight day on Tuesday, weighed down by sustained competition abroad and improving U.S. planting weather on the horizon, analysts said.
Australian canola production is expected to rise in 2024/25, while the European rapeseed crop will likely be smaller on the year, according to updated estimates from the United States Department of Agriculture’s Foreign Agricultural Service.