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Soybeans

ICE July 2023 canola with 20-day moving average (yellow line, right scale) and CBOT July 2023 soybean oil (dark green line, left scale). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola market rising into summer

New StatCan acreage estimates out next week

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MarketsFarm — ICE Futures canola contracts have climbed steadily higher since their late-May lows, nearing chart resistance to the upside on the first day of summer. Updated renewable fuel targets released by the U.S. Environmental Protection Agency failed to live up to expectations, sparking a speculative selloff in soyoil. While the limit-down move in soyoil […] Read more
(Medioimages/Photodisc/Getty Images)
Crops, Markets, Weather

CBOT weekly outlook: Weather fuels rallies in grain prices

Rains expected in U.S. Plains states

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MarketsFarm — Weather and less-than-stellar crop conditions were the primary factors that caused week-long rallies on the Chicago Board of Trade (CBOT) for the week ended Wednesday. Ongoing dryness in most areas of the U.S. saw crops begin to deteriorate. The corn crop dropped six points to 55 per cent good to excellent as of […] Read more
CBOT November 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Soy, corn, wheat rally to multi-month highs on weather concerns

Meteorologists 'pretty much threw in the towel'

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Chicago | Reuters — U.S. corn, soybean and wheat futures rose to multi-month highs on Wednesday, supported by concerns about crop shortfalls around the globe due to adverse weather in key production areas. “Listening to the meteorologists this morning, they pretty much threw in the towel on any moisture for the dry areas of the […] Read more
Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets, Reuters, Weather

U.S. grains: Soy, corn futures steady; wheat mixed

Large Russian exports tempered fears of Black Sea corridor agreement breakdown

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Chicago | Reuters — U.S. corn and soybean futures steadied on Tuesday after the market rallied sharply at the end of last week on concerns that hot and dry weather will lead to harvest shortfalls. The market remained underpinned by the most recent forecasts, which remained unfavourable for key growing areas of the U.S. Midwest, […] Read more
CBOT July 2023 corn with Bollinger bands (20,2) and December 2023 corn (orange line). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Corn, soy, wheat set multi-month highs on weather worries

U.S. markets closed Monday for Juneteenth

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Chicago | Reuters — U.S. corn, soybean and wheat futures all closed higher on Friday and all set multi-month highs during the session as worries about stressful dry conditions in key portions of the Midwest prompted a flurry of buying ahead of a three-day holiday weekend, analysts said. “We have an issue here in the […] Read more
CBOT July 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn, soy futures soar on dry weather worries

Chicago July wheat also higher

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Chicago | Reuters — U.S. corn futures hit their highest levels in nearly two months and soybeans hit a one-month high on Thursday as forecasts for continued dry weather in portions of the Midwest crop belt raised concerns about yield prospects, analysts said. Chicago Board of Trade (CBOT) wheat futures surged about five per cent […] Read more
ICE July 2023 canola with 20- and 50-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola will follow soyoil up or down

Prairie weather another guiding factor

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MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
CBOT July 2023 corn with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn, soy, wheat futures sag on demand worries

U.S. winter wheat harvest adds seasonal pressure

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Chicago | Reuters — U.S. corn futures and nearby soybean futures fell on Wednesday, backing down from multi-week highs, as traders weighed fears of flagging demand for grains and other commodities against worries about dry Midwest weather curbing crop prospects, traders said. Wheat futures sagged on profit-taking after a four-session advance and seasonal pressure from […] Read more
Soil cracks around corn plants below knee-high at Manchester Township, about 130 km west of Philadelphia in southern Pennsylvania, on June 6, 2023. (Photo: Paul Kuehnel/USA Today Network via Reuters)
Crops, Markets

CBOT weekly outlook: Weather market for soy, corn

U.S. targets for biofuel blending pending

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MarketsFarm — With soybean and corn seeding nearing completion across the United States, attention in the futures markets is focused squarely on growing conditions. “We’re in a weather market, so look for traders to keep these prices chopping around over the next few weeks,” said Terry Reilly of Futures International in Chicago. Relatively dry conditions […] Read more
CBOT July 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans reach one-month high on weather woes

Wheat up, corn mixed

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Chicago | Reuters –– U.S. soybean futures hit a one-month high on Tuesday on worries about dry conditions in the Midwest hurting crop prospects and spillover strength from crude oil, traders said. Corn futures were mostly higher on the Midwest weather jitters, but the nearby July contract fell on profit-taking and worries about demand for […] Read more

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