Prices for wheat on the Canadian Prairies were either side of steady by the week ended May 9. There were losses for Canadian Western Red Spring Wheat and Canadian Western Amber Durum, but Canada Prairie Red Spring Wheat incurred increases.
Chicago wheat futures rose on Thursday as Russia declared a state of emergency in key grain-growing regions due to frosts, while soybeans and corn fell ahead of a monthly U.S. Department of Agriculture supply-and-demand report due on Friday.
Chicago Board of Trade wheat futures fell on Wednesday despite weather risks in top exporter Russia, highlighting the size of its supply as the country continues to dominate global export markets.
Chicago wheat fell on Tuesday from peaks not seen since December, while corn eased from four-month highs as investors gauged the impact of harsh weather in some major production zones.
Chicago | Reuters – U.S. wheat, soybean and corn futures soared to multi-month highs on Monday on worries about potentially crop-damaging weather in Brazil and Russia. Chicago Board of Trade (CBOT) July wheat WN24 settled up 26-1/4 cents at $6.48-3/4 a bushel after climbing to $6.50-1/4, its highest level since late December. CBOT July corn CN24 ended up 8-3/4 […] Read more
Chicago | Reuters – U.S. corn futures rose on Friday to their highest level since January before turning lower and soybeans reached a one-month peak as floods disrupted harvests in top exporter Brazil and disease ate into Argentina’s corn crop, analysts said. Wheat futures hit a one-week high on renewed concerns over dry weather in Russia, the world’s biggest […] Read more
Chicago Board of Trade (CBOT) benchmark wheat futures fell on Wednesday after ticking up in the early session as much-needed rainfall reaches key wheat-growing areas of the U.S. Plains and southern Russia.
Shifting weather forecasts have the potential to sway soybean and corn futures within sideways trading ranges over the next few weeks as farmers in the United States focus on spring seeding.