ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Canola’s steady week takes late turn

Outlook 'neutral to bearish'

MarketsFarm — While canola prices turned lower Wednesday, the week ending that day was full of rangebound trade activity with little movement. The March canola contract traded within a range of $832-$846.70 per tonne during the week, settling at the low end of the range after falling $5.20 on Wednesday to close at $832.70/tonne. Winnipeg-based […] Read more

Farmer Ignacio Bastanchuri stands in a wheat field at Navarro in Argentina’s Buenos Aires province on Dec. 5, 2022. (File photo: Reuters/Agustin Marcarian)

CBOT weekly outlook: Soy, corn markets’ eyes on South America

Wheat market remains sensitive to Ukraine news

MarketsFarm — Soybean and corn futures at the Chicago Board of Trade were boosted by last Thursday’s bullish supply/demand estimates from the U.S. Department of Agriculture, but attention has since shifted back to South American growing conditions. “The primary thing right now is South American weather,” said market analyst Tom Lilja of Progressive Ag at […] Read more


CBOT March 2023 corn with 20-, 100- and 200-day moving averages. (Barchart)

U.S. grains: Corn, soy up off early declines on export data

Chicago wheat follows suit

Chicago | Reuters — Chicago Board of Trade (CBOT) corn and soybean futures rallied to multi-month highs on Tuesday as signs of export demand and follow-through support from last week’s bullish U.S. government supply/demand reports overshadowed early pressure from wetter South American weather forecasts, traders said. Wheat followed the higher trend. CBOT March corn settled […] Read more

CBOT March 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Soy, corn rise on smaller U.S. harvest, Argentina drought worries

U.S. markets closed Monday for Martin Luther King Jr. Day

Chicago | Reuters — U.S. soybean futures climbed for a third straight day on Friday and corn scaled to a 1-1/2 week top on follow-through buying after bullish U.S. Department of Agriculture (USDA) crop data the prior day and concerns about poor South American weather. Both markets gained more than two per cent since USDA […] Read more


CBOT March 2023 oats with 20- and 100-day moving averages. (Barchart)

Oats face an uncertain year

Reduced acres expected in 2023

MarketsFarm — When comparing oat prices at the start of 2023 compared to one year ago, they appear to be night and day. Despite modest price increases over the past month, some western Canadian oat bids are less than half of what they were last year. In Alberta, the high-delivered bid for oats as of […] Read more

CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Corn, soybeans surge after USDA cuts 2022 harvest view

Brazil's CONAB projects big corn crop, record soy crop

Chicago | Reuters — U.S. corn and soybean futures rallied on Thursday after the U.S. Department of Agriculture (USDA) unexpectedly cut its 2022 harvest estimates for both crops, which would mean smaller-than-expected supplies. Wheat futures gained on spillover support from rising corn and soy. Traders largely shrugged off USDA’s larger-than-anticipated winter wheat crop acreage estimate […] Read more


File photo of the facade of the U.S. Department of Agriculture building in Washington, D.C. (Camrocker/iStock/Getty Images)

CBOT weekly outlook: Bullish USDA report lifts grain markets

MarketsFarm — The bulls were off and running Thursday after the U.S. Department of Agriculture (USDA) released its monthly supply/demand estimates, which showed underwhelming grain production and ending stock figures for the 2022-23 marketing year. U.S. corn production was estimated at 13.73 billion bushels, 192 million below the lower end of trade expectations despite a […] Read more

ICE March 2023 canola with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Canola likely rangebound until spring

MarketsFarm — Unless something very dramatic were to happen in the coming weeks, canola futures on the ICE Futures platform will remain rangebound at least until spring, according to David Derwin, analyst with PI Financial in Winnipeg. “Canola has been very rangebound for the last six to seven months,” he said, noting downward fluctuations during […] Read more


CBOT March 2023 soft red winter wheat with 20-day moving average (green line), MGEX March 2023 hard red spring wheat (yellow line) and K.C. March 2023 hard red winter wheat (orange line). (Barchart)

U.S. grains: Futures firm ahead of USDA crop data

Wheat up on technicals, short covering; corn mixed, soybeans firm on Argentine drought concerns

Chicago | Reuters — U.S. wheat futures firmed on Wednesday as a drop to 15-month lows in the previous session sparked technical buying and short covering, and as traders took positions ahead of key U.S. government crop reports, traders said. Corn was mixed and soybeans edged higher, underpinned by concerns about weather-reduced crops in South […] Read more