ICE July 2023 canola with 20-day moving average and November 2023 canola (dark green line). (Barchart)

ICE weekly outlook: Canola finds support from funds, weather

Crude oil markets also a factor

MarketsFarm — After being in a steady decline over the past month, the ICE Futures canola market was on the rise for the week ended Wednesday. The July canola contract closed Wednesday at $670.30 per tonne, an increase of $20.70 from the week before. Meanwhile, the November canola contract rose $22.60 per tonne over the […] Read more

Frost on land in Brazil’s Santa Catarina state. (Edson Hardt/iStock/Getty Images)

Brazil justice grants Congress more time on bill limiting Indigenous rights

Case pits Indigenous against Big Ag

Brasilia | Reuters — A Brazilian Supreme Court justice on Wednesday asked for more time to study a case pitting the country’s Indigenous people against its powerful farm sector, a decision that is likely to give lawmakers more time to pass a measure favouring Big Agriculture. The decision by Justice Andre Mendonca, an Evangelical pastor […] Read more


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CBOT weekly outlook: Ending stocks of corn, soy predicted to rise

Ending stocks of wheat projected to drop as drought hits Kansas winter wheat

MarketsFarm — Ahead of supply and demand estimates from the U.S. Department of Agriculture due out Friday, analyst Tom Lilja of Progressive Ag in Fargo, N.D. predicted increases in 2023-24 ending stocks for U.S. corn and soybeans and decline for wheat. The average trade guess for wheat going into this month’s report was approximately 570 […] Read more

File photo of rice growing near Pune in Maharashtra, western India. (ePhotocorp/iStock/Getty Images)

Late Indian monsoon to start in next two days

The monsoon is vital to the country's agricultural production

MarketsFarm – The onset of India’s annual southwest monsoon, which is vital to the country’s agricultural production, is expected to hit the southern state of Kerala within the next 48 hours, according to an update from the India Meteorological Department. The persistence of westerly winds over the Arabian Sea, the increased depth of those westerly […] Read more


CBOT July 2023 soft red winter wheat with 20-day moving average (green line, right column) and MGEX and K.C. July 2023 wheats (yellow and orange lines, left column). (Barchart)

U.S. grains: Wheat futures snap winning streak

Corn weak, soybeans mixed

Chicago | Reuters — U.S. wheat futures fell on Wednesday, with the most-active Chicago Board of Trade soft red winter wheat contract snapping a five-session rally that had pushed prices to their highest in nearly three weeks, traders said. But concerns about export demand for U.S. supplies pulled wheat prices lower, with high-protein offerings notching […] Read more



(Dave Bedard photo)

Fund traders add to bearish bets in canola

Funds also net short in MGEX and CBOT wheat, corn

MarketsFarm — Speculative fund traders added to their net short position in canola during the week ended May 30, putting on more bearish bets while also liquidating some previous longs, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 30, the net managed money short […] Read more

Photo: File

Repeat of record Australian wheat, canola crops unlikely

ABARES expects 2023-24 crop down on year

MarketsFarm — After growing record-large wheat and canola crops in 2022-23, Australia is expected to see a significant drop in production in 2023-24 as developing El Nino weather patterns will likely cut rainfall through the growing season, according to the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES). […] Read more


File photo of a field pea crop in western New South Wales, Australia. (Alfio Manciagli/iStock/Getty Images)

Pulse weekly outlook: Dryness to cut into Australian production

MarketsFarm — Dry conditions and low soil moisture reserves in key Australian growing regions, along with expectations for developing El Nino weather patterns, are expected to cut into the country’s pulse production in 2023-24, despite steady to higher seeding intentions for several crops, according to the latest crop report from the Australian Bureau of Agricultural […] Read more

Trucks wait for crossing into Poland at the Rava-Ruska border checkpoint in Ukraine’s Lviv region on April 17, 2023. (Photo: Reuters/Roman Baluk)

EU extends restrictions on Ukrainian grain imports

Restrictions won't apply to seed for planting

Warsaw/Brussels | Reuters — The European Commission said Monday it was extending until Sept. 15 an arrangement whereby five of Ukraine’s EU neighbours can restrict imports of Ukrainian grain. The EU on May 2 allowed the five countries — Bulgaria, Hungary, Poland, Romania and Slovakia — to ban domestic sales of Ukrainian wheat, maize, rapeseed […] Read more