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File photo of fresh palm fruits and palm oil. (Slpu9945/iStock/Getty Images)
Crops, Markets, Weather

USDA’s Indonesia desk predicts increased palm oil production

An El Nino event could weigh on that outlook

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MarketsFarm — Indonesia, the world’s largest producer of palm oil, is forecast to see a three per cent rise in production in 2023-24, according to the U.S. Department of Agriculture’s Foreign Agricultural Service post in Jakarta. The country’s USDA post anticipates 46 million tonnes of palm oil production, which would be up from 44.7 during […] Read more
CBOT May 2023 soft red winter wheat with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat at 18-month low on Black Sea deal hope

Soybeans boosted by slash to Argentina harvest

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Chicago | Reuters — Chicago wheat futures on Wednesday fell to their lowest point in 18 months on expectations for a Black Sea grains deal and continued poor demand for U.S. exports. “Wheat was down most of the day, initially on talk of corridor extension talks, then off a lackluster WASDE report,” Charlie Sernatinger of […] Read more
CBOT May 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn futures hit six-week low on projected plantings

Corn, soy, wheat prices to drop from 2022, USDA predicts

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Chicago | Reuters — Chicago Board of Trade corn futures hit a six-week low on Thursday as the U.S. government projected farmers will plant more acres this year and prices will decline, analysts said. The U.S. Department of Agriculture, at its annual Agricultural Outlook Forum, pegged 2023 corn plantings at 91 million acres, up from […] Read more
CBOT March 2023 soybeans with 20-day moving average (right column) and CBOT March 2023 soyoil (dark green line, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy, corn hit one-week highs on Argentina weather worries

Firmer U.S. dollar drags on CBOT wheat

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Chicago | Reuters — U.S. soybean and corn futures hit their highest in a week and soyoil touched a one-month peak on Tuesday as worries about crop prospects in drought-hit Argentina supported prices, analysts said. “It’s all about drought in Argentina… and adding more risk premium,” said Don Roose, president of Iowa-based U.S. Commodities. “The […] Read more
CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

CBOT weekly outlook: Values pull back from upper ranges

Early U.S. estimate of planting intentions due out next week

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MarketsFarm — Despite some bullish influences, commodity prices at the Chicago Board of Trade (CBOT) were stepping back in mid-February. That movement wasn’t a surprise to Scott Capinegro of Barrington Commodity Brokers in Barrington, Ill. Prices for corn, soybeans and wheat had been at the upper end of their ranges, he said. “We are still […] Read more
File photo of a cornfield in Argentina. (Reisegraf/iStock/Getty Images)
Crops, Markets, Weather

Revisions possible for Argentina corn, wheat carryouts

USDA attache has eyes on drought conditions

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MarketsFarm — There should be changes to 2022-23 Argentina corn and wheat endings stocks, according to the U.S. Department of Agriculture’s (USDA) attaché in Buenos Aires. The Global Agricultural Information Network (GAIN) report cited a sharp increase in the carryover for corn and a smaller bump up when it came to wheat. The effects of […] Read more
(Qingwa/iStock/Getty Images)
Crops, Markets

CBOT weekly outlook: Latest USDA adjustments do little to move market

Selling pressure short-lived after report

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MarketsFarm — Updated supply/demand estimates (WASDE) from the U.S. Department of Agriculture were neutral to slightly bearish for soybeans, corn and wheat, with latest numbers largely coming in line with expectations. The February report is traditionally not a major market mover, with the Chicago futures markets waiting for confirmation on South American crops and for […] 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, Weather

U.S. grains: Chicago wheat, corn, soy firm on WASDE report

South America's weather drags on competing exports

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Chicago | Reuters — Chicago wheat, corn and soybean futures firmed on Wednesday, supported by weather conditions in South America that hamper rival exports, though higher-than-expected U.S. supplies limited gains. The most-active wheat contract on the Chicago Board of Trade (CBOT) added 15 cents to $7.64-3/4 a bushel (all figures US$). CBOT soybeans added 4-1/2 […] Read more
CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn, soybeans fall ahead of USDA report

U.S. wheat futures end mixed

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Chicago | Reuters — Chicago Board of Trade soybean and corn futures fell on Tuesday as investors squared positions ahead of the U.S. government’s key monthly reports on global supply and demand. Traders were focused on the size of the corn and soybean harvests in Argentina as drought stressed the crops in that key global […] Read more
CBOT March 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy futures fall on technical selling

Corn edges higher; wheat weak

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Chicago | Reuters — U.S. soybean futures dropped on Monday on a technical setback after rallying to the high end of recent trading ranges last week, traders said. Corn ended higher after trading in negative territory for much of the day, with the market finding support near Friday’s low. Investors were waiting for news about […] Read more

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