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Soybeans

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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
ICE March 2023 canola with 20-day moving average (yellow line, right column) and Canadian dollar value in U.S. dollars (red line, left column). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: March canola unchanged from last week

Loonie's relative strength seen as drag on values

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MarketsFarm — The ICE Futures canola market was once again trading rangebound for the week ended Wednesday, as the March contract was left unchanged from one week earlier at $828.20. The contract oscillated between a range of $819.40 and $837 per tonne during the week, all the while seemingly immune from larger price ranges seen […] 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
CBOT March 2023 soymeal with 20-day moving average (brown line, right scale) and CBOT March 2023 soybeans (dark green line, left scale). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soymeal futures set multi-year high while soybeans decline

CBOT wheat down off one-month top; CFTC trading report to be delayed

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Chicago | Reuters — U.S. soybean futures declined on Friday on spillover weakness from crude oil prices and expectations of a massive Brazilian soy harvest, but most-active soymeal futures set an 8-1/2-year high on tight supplies of the feed ingredient, analysts said. Wheat futures fell on profit-taking after rising to a one-month top while corn […] Read more
CBOT March 2023 soybeans with 20-day moving average (yellow line, right column) and CBOT March 2023 soymeal (brown line, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybean futures climb as soymeal soars

Chicago corn retreats, wheat inches higher

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Chicago | Reuters — U.S. soybean futures rose on Thursday as uncertainty about crop prospects in Argentina lifted soymeal futures to life-of-contract highs, traders said. Corn futures fell on technical selling and a bounce in the U.S. dollar, which tends to make U.S. grains less competitive globally, although U.S. corn export sales in the latest […] Read more
Wheat being loaded onto a cargo ship in Vancouver in 2011. (File photo: Reuters/Ben Nelms)
Crops, Markets

China top destination for Canadian grains, oilseeds

CGC data points to key destinations

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MarketsFarm — China is the top destination for Canadian grain and oilseed exports through the first five months of the 2022-23 marketing year, accounting for roughly a third of the total movement, according to the latest monthly report from the Canadian Grain Commission. Canada has exported 6.566 million tonnes of grains, oilseeds, and pulses to […] Read more
File photo of young plants in a soybean field in Argentina. (Gracieross/iStock/Getty Images)
Crops, Markets, Soybeans, Weather

Argentina soybean crop smaller than expected, USDA attaché says

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MarketsFarm — Argentina’s 2022-23 soybean crop is likely much smaller than official projections as high temperatures and a lack of moisture cut into yields, according to an update from the U.S. Department of Agriculture’s Buenos Aires attaché. The USDA post from the South American country pegged the soybean crop at only 36 million tonnes, which […] Read more
(Pabradyphoto/iStock/Getty Images)
Crops, Markets

CBOT weekly outlook: Weather outweighs U.S. Fed rate hike announcement

'People are returning to the Argentine situation'

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MarketsFarm — Week-long rallies for grain futures on the Chicago Board of Trade (CBOT) were disrupted by the U.S. Federal Reserve’s latest key interest rate announcement on Wednesday. The Fed revealed it is raising its key interest rate by 25 basis points in its ongoing fight against inflation. While the central bank acknowledged inflation is […] Read more

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