Chicago Board of Trade soybeans and corn futures turned lower on Friday, with both also notching a third weekly loss, as farmers kept clearing out their grain bins ahead of a U.S. harvest that is forecast to see massive yields, traders said.
s the harvesting of fall crops in Alberta exceeded the halfway point, the combining of the province’s spring cereals was just beginning, according to the latest Alberta crop report.
Chicago Mercantile Exchange (CME) live and feeder cattle futures eased on Thursday, as generally quiet cash market and a strengthening U.S. dollar left cattle futures in a range-bound trade, traders said.
Chicago Board of Trade wheat futures ended lower on Thursday as cheap Black Sea exports kept weighing on the market, which had risen overnight on a rally sparked by a Russian attack on Ukrainian port infrastructure.
Pasture conditions in much of Saskatchewan were diminishing due to the hot and dry conditions. While sporadic rainfall in north and east parts of the province will benefit later seeded crops as they mature, but came too late for early seeded crops.
With rain forecast for most of the United States Corn Belt, the prospects for larger than expected soybean and corn crops is pretty much certain, according to broker Scott Capinegro of AgMarket Inc. in Chicago.
North American industry groups and shippers are bracing for an unprecedented simultaneous stoppage at both of Canada's main railway companies that could inflict billions of dollars' worth of economic damage.
The ICE Futures canola market fell sharply lower during the week ended Aug. 14, hitting its lowest levels since 2020 as rising soybean production estimates out of the United States weighed on values.