
Crops

CBOT weekly outlook: Spring wheat premium widening over winter wheat
Row crop futures stuck in sideways range
MarketsFarm — All eyes remain on weather conditions in U.S. grain and oilseed markets, with soybeans and corn stuck in sideways patterns while seasonal harvest pressure causes the spring wheat premium to widen over the winter wheats. The advancing winter wheat harvest has weighed on Chicago and Kansas City winter wheat contracts recently, with reports […] Read more

U.S. grains: Wheat hits eight-month low as harvest advances
Soybeans gain on trade optimism; ethanol report supports corn
Chicago | Reuters — Chicago wheat futures edged downward on Wednesday reaching an eight-month low as the U.S. harvest continues and rainfall across Europe allayed recent weather worries. Corn prices climbed after early losses, ending in positive territory on increased ethanol use, but capped by pressure from favourable weather across the U.S. Midwest, while soybeans […] Read more

Pulse weekly outlook: Pandemic may pose market opportunity
MarketsFarm — Plant protein products were steadily rising in popularity before the COVID-19 pandemic set in — but that industry could also get a boost from consumers shifting away from meat in a post-pandemic world. “There’s an increased level of awareness of hygiene issues in the meat industry,” Vishal Vijay, head of business development at […] Read more

Bayer scraps plans for U.S. dicamba production
Move unrelated to court ruling, company says
Chicago | Reuters — Bayer said on Tuesday it will scrap a nearly US$1 billion project to produce dicamba in the United States, but said the move is unrelated to a federal court decision that blocked sales of dicamba-based herbicides. The German-based company is moving to save cash as it wages an expensive legal battle […] Read more

U.S. grains: Corn trims gains on technical selling
Wheat slides as harvests face decreased demand; soybeans drop on down meal market
Chicago | Reuters — Chicago corn futures ended slightly lower on Tuesday after a day of positive trading after the U.S. Department of Agriculture (USDA) reported decreased crop conditions due to recent hot weather across the western corn belt. Wheat slid as winter harvests continue, while soybeans remained lower as weak soymeal trade overwhelmed gains […] Read more

Ocean freight rate index moving higher
MarketsFarm — Ocean freight rates have shown steady gains over the past month, rising to some of their highest levels of 2020 as world economies show signs of recovery amid the COVID-19 pandemic. The Baltic Dry Index (BDI), a major indicator of shipping rates, has moved higher for 12 straight sessions, hitting 973 points on […] Read more

U.S. grains: Soybeans fall on crop development
Wheat lifts on short-covering
Chicago | Reuters — Chicago soybean futures slid on Monday on reports of healthy crop development across much of the U.S. Midwest, as concerns about a potential bumper crop cooled market enthusiasm over recent strong Chinese demand. Private exporters reported the sale of 390,000 tonnes of soybeans to China for delivery in the 2020-21 marketing […] Read more

Carbon pricing not having ‘significant impact’ on grain drying, Bibeau says
Conservatives, ag groups dispute government's numbers
Ottawa — Grain drying costs an average of $210 to $819 per farm in carbon taxes, according to federal Agriculture Minister Marie-Claude Bibeau. Her department used data provided by grower groups – including Manitoba’s Keystone Agricultural Producers (KAP) and the Agricultural Producers Association of Saskatchewan (APAS) – to arrive at the figures. The federal estimate […] Read more

India’s levy cut on lentils part of balancing act
Global markets had zero or little forewarning of decision
MarketsFarm — To Pulse Canada, the recent move by the Indian government to temporarily reduce the import levy on lentils from 30 to 10 per cent is part of a balancing act between competing interests. Greg Cherewyk, president of Pulse Canada, explained that Prime Minister Narendra Modi is “looking after the needs of a politically […] Read more

U.S. grains: Soybeans gain on hope of continued China purchasing
USDA hiked world wheat stocks to record high; corn gains after ethanol demand cut less than expected
Chicago | Reuters — Chicago soybean futures rallied late on Friday as hopes of continued U.S. exports to top-importer China supported prices. Wheat futures rebounded after touching a three-week low at the Chicago Board of Trade earlier in the session, as the U.S. government’s forecast for a record world wheat stock added supply pressure. Corn […] Read more