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CBOT weekly outlook: Bearish picture for commodities

Prices may not go much lower given the commodities have hit contract lows, says analyst

Ahead of the United States Department of Agriculture Outlook Forum, analyst Bryan Strommen of Progressive Ag in Fargo, N.D. painted a rather bearish picture for the commodity markets. However, he noted that prices might not go much lower given the commodities have hit contract lows.










Grain bins in a Saskatchewan field. (MysticEnergy/iStock/Getty Images)

Less Canadian wheat, more canola on hand to end 2023: StatCan

Some had anticipated even larger on-farm canola stocks, given slower export pace

Canadian wheat stocks at the end of 2023 were considerably tighter compared to the previous year, with oats, corn and pulse crops also seeing supply reductions, according to the latest stocks report from Statistics Canada, released Feb. 8, 2024. However, canola, barley and soybean stocks as of Dec. 31, 2023, were higher compared to the previous year.