
Crops

Prairie cash wheat: Little change in wheat bids
U.S. wheat futures up on week
MarketsFarm — Despite bullish factors affecting wheat futures on the Chicago Board of Trade (CBOT), western Canadian wheat bids did not see much change during the week ended Thursday. Futures prices for all three major U.S. varieties increased week-by-week, mostly fuelled by large gains on Feb. 10, as traders shifted focus to Russia’s invasion of […] Read more

AAFC revises crop estimates
Export, new-crop production outlooks revised lower for flax
MarketsFarm — Agriculture and Agri-Food Canada (AAFC) on Friday released its February supply and demand estimates with numerous small changes. AAFC held its projections for 2022-23 grains and oilseeds production at 89.489 million tonnes. As for exports, the department reduced them from 45.715 million tonnes last month to now 45.49 million. Furthermore, domestic usage was […] Read more

U.S. grains: Soy, corn, wheat inch higher ahead of holiday weekend
Chicago markets close Monday for Presidents Day
Chicago | Reuters — Chicago Board of Trade corn, soybean and wheat futures closed modestly higher on Friday as traders squared positions ahead of a three-day U.S. weekend and weighed contrasting crop prospects in South America, analysts said. Uncertainty about the future of a Black Sea grain export corridor underpinned values, while a firming dollar […] Read more

U.S. grains: Soybeans end higher in choppy trade
CBOT corn mixed, wheat down; MGEX, K.C. wheats up
Chicago | Reuters — U.S. soybean futures inched higher on Thursday while corn ended narrowly mixed after a choppy session as traders weighed poor crop prospects in Argentina against the expanding harvest of a massive Brazilian soybean crop and fears of rising interest rates, analysts said. Chicago Board of Trade (CBOT) wheat futures fell on […] Read more

Feed weekly outlook: Grain bids quietly drift lower
Oats still making their way into feedlots
MarketsFarm — Prices for feed barley and wheat in Western Canada drifted lower during the week ended Wednesday. Erin Harakal, trade manager for Agfinity Inc. at Stony Plain, Alta., said a relatively milder winter across the Prairies has resulted in less consumption of feed grains in feedlots. In turn, feedlots are not purchasing as much […] Read more

IGC makes changes in corn, soybean supply outlook
Council makes only minor tweaks in wheat
MarketsFarm — There are some notable changes to the monthly report from the International Grains Council (IGC), primarily in corn and soybeans. The London-based IGC on Thursday issued new supply and demand estimates, pointing to reduced agricultural production such as in Argentina as the main reason for the changes. That’s despite increased output in Brazil […] Read more

Nutrien misses profit estimates amid higher fertilizer prices
CF Industries also books lower sales
Reuters — Canadian fertilizer maker Nutrien on Wednesday forecast lower-than-expected 2023 earnings and posted fourth-quarter profit below Wall Street estimates, sending shares down 2.6 per cent in extended trading. While higher fertilizer prices dented demand in early second-half of last year, a fall in prices later in the year did not boost demand as farmers […] Read more

U.S. grains: Wheat, corn, soy down on stronger U.S. dollar, interest rate fears
Uncertainty over Black Sea deal underpins corn, wheat
Chicago | Reuters — U.S. wheat futures fell more than two per cent on Wednesday and corn and soybeans followed the trend lower, pressured by a stronger U.S. dollar and fears of more interest rate hikes by the Federal Reserve, analysts said. Fundamental news for grains and oilseeds was thin, leaving markets stuck within recent […] Read more

ICE weekly outlook: Canola drifting lower
Near-record soy still expected from South America
MarketsFarm — ICE Futures canola contracts drifted lower during the week ended Wednesday, although values remained rangebound overall. “The market is maybe coming to the realization that we still have near-record South American (soybean) supplies on hand,” Ken Ball of PI Financial in Winnipeg said of the downtrend. While Argentina has suffered crop losses from […] Read more

CBOT weekly outlook: Values pull back from upper ranges
Early U.S. estimate of planting intentions due out next week
MarketsFarm — Despite some bullish influences, commodity prices at the Chicago Board of Trade (CBOT) were stepping back in mid-February. That movement wasn’t a surprise to Scott Capinegro of Barrington Commodity Brokers in Barrington, Ill. Prices for corn, soybeans and wheat had been at the upper end of their ranges, he said. “We are still […] Read more