Chicago Board of Trade (CBOT) corn futures fell on Thursday, and soybean futures set new life-of-contract lows, as U.S. farmers scramble to sell their bins of old-crop grain and oilseeds into a global market awash in supplies, traders said.
Heat and a lack of moisture in parts of Western Canada likely cut into production prospects this year. However, any weather concerns have yet to find their way into the markets, with solid production prospects out of the United States weighing on values overall.
Hot temperatures and a lack of moisture saw crops in Saskatchewan continue to advance rapidly during the week ended Aug. 5, according to the latest provincial crop report, with the conditions leading to a further decline in yield potential. While any moisture received would be too late for advanced crops, producers indicated precipitation would still […] Read more
Chicago Board of Trade corn and soybean futures turned lower on Wednesday as markets came under pressure from expectations of a U.S. bumper crop, moderate weather in the Midwestern corn belt and sluggish oilseed demand, traders said.
Canola futures at the Intercontinental Exchange (ICE) followed the lead of vegetable oils during the first trading week of August, posting sharp losses despite seeing a modest correction on Aug. 7.
Soybean, corn and wheat futures in the United States are all trading near contract lows, with a lack of any significant weather threats likely to keep the bias pointed lower until something changes the narrative.
Warmer weather and varied precipitation across Manitoba allowed crops to further develop during the week ended Aug. 5, according to the province’s weekly crop report.
Chicago soybeans and corn slumped on low demand and a stronger dollar on Tuesday as financial markets recovered from an epic sell-off on Monday. Wheat futures rose after a massive tender from Egypt for 3.8 million metric tons to cover imports between October 2024 and April 2025—its largest ever according to traders.
Chicago Board of Trade grain and soybean futures turned higher on Friday as market participants and fund traders scrambled to cover their hefty short positions on signs of the U.S. economy weakening, market analysts said.