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ICE May 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Rising canola market runs into resistance

Resistance seen around $835, support around $820

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MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, but ran into some resistance to the upside as values held rangebound overall. “Technicals, short-covering, fund buying and a lack of selling,” were all providing support during the week along with spillover from advances in Chicago soyoil, according to Jamie Wilton of […] Read more
The Robin Hood logo still adorns the former flour mill at Port Colborne, Ont. today. (LondonAg.com)
Crops

Lake Erie grain terminal sold to main tenant

Ceres sells export facility to London Ag Commodities

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The former Robin Hood flour mill turned grain export terminal on the Ontario side of Lake Erie is under new ownership by its main user. Minneapolis-based Ceres Global Ag announced Wednesday it has sold the well-known terminal at Port Colborne, Ont., about 30 km west of Buffalo, N.Y., to London Agricultural Commodities (LAC) for US$4 […] Read more
CBOT March 2023 soybeans with 20-day moving average (right column) and CBOT March 2023 soyoil (dark green line, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy, corn hit one-week highs on Argentina weather worries

Firmer U.S. dollar drags on CBOT wheat

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Chicago | Reuters — U.S. soybean and corn futures hit their highest in a week and soyoil touched a one-month peak on Tuesday as worries about crop prospects in drought-hit Argentina supported prices, analysts said. “It’s all about drought in Argentina… and adding more risk premium,” said Don Roose, president of Iowa-based U.S. Commodities. “The […] Read more
CBOT March 2023 soybeans with Bollinger bands (20,2). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy, corn, wheat inch higher ahead of holiday weekend

Chicago markets close Monday for Presidents Day

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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
CBOT March 2023 soybeans (candlesticks) with 20-day moving average and November 2023 soybeans (dark green o/h/l/c). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans end higher in choppy trade

CBOT corn mixed, wheat down; MGEX, K.C. wheats up

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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
One Canada Square (tower at centre) houses the London head office of the International Grains Council. (Iliffd/iStock/Getty Images)
Crops, Markets

IGC makes changes in corn, soybean supply outlook

Council makes only minor tweaks in wheat

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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
CBOT March 2023 soft red winter wheat with 20-day moving average, MGEX March 2023 hard red spring wheat (yellow high/low/close) and K.C. March 2023 hard red winter wheat (orange H/L/C). (Barchart)
Crops, Markets, Reuters

U.S. grains: Wheat, corn, soy down on stronger U.S. dollar, interest rate fears

Uncertainty over Black Sea deal underpins corn, wheat

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

CBOT weekly outlook: Values pull back from upper ranges

Early U.S. estimate of planting intentions due out next week

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

U.S. grains: Soy eases off multi-month highs

Futures down as Brazil's harvest progresses; CBOT corn, wheat also down

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Chicago | Reuters — U.S. soybean futures fell on Tuesday on profit-taking after Monday’s multi-month highs and fundamental pressure from the advancing harvest of a likely record-large soy crop in Brazil, analysts said. Corn and wheat drifted lower in technical moves with worries about a global recession adding to bearish sentiment. Chicago Board of Trade […] Read more
(Xinzheng/Getty Images)
Crops, Reuters

China to plant more soy, speed up GMOs to ensure food supply

Beijing reiterates goals to increase soy acres, intercrop with corn

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Beijing | Reuters — China will increase its efforts to boost output of soybeans and edible oils, state media reported on Monday, citing a key rural policy document, as it continues to push for greater self-sufficiency in its key food supplies. The world’s top soybean buyer is trying to lower its heavy reliance on imports […] Read more

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