GFM Network News


A sharply smaller spring wheat harvest due to drought may force bakers to change how they work with flour.  Photo: DanielBendjy/E+/Getty Images

Millers, bakers fret as drought withers North America’s spring wheat

Reuters – Millers and bakers are draining wheat reserves and paying more for spring wheat used in baking, as drought shrivels crops across the Canadian Prairies and northern U.S. Plains that produce more than half of the world’s supply. U.S. and Canadian farmers are bracing for a sharply smaller spring wheat harvest due to the […] Read more



CBOT September 2021 wheat (candlesticks) with MGEX and K.C. September 2021 wheat (dark greeen and orange O/H/L/C). (Barchart)

U.S. grains: Winter wheat futures up sixth straight day

MGEX spring wheat falls

Chicago | Reuters — U.S. winter wheat futures rose for the sixth day in a row on Wednesday as adverse weather in key exporting countries raised supply concerns, traders said. Corn futures were steady to firm, with the front-month contract ending flat while new-crop offerings rose on support from dry soils that threatened to hamper […] Read more

CBOT December 2021 corn (candlesticks) with MGEX, CBOT and K.C. September 2021 wheats (green, yellow and orange lines). (Barchart)

U.S. grains: Soybeans, corn fall on cool, wet forecast

Wheat supported by dryness in northern Plains

Chicago | Reuters — Chicago soybean futures ended lower on Thursday, pressured by cool, rainy forecasts across the U.S. growing belt, though dryness in the upper Midwest continues to threaten developing crops. Corn eased as beneficial rains aided crops entering pollination, while wheat firmed as sparse moisture reached drought-hit spring wheat regions. The most-active soybean […] Read more


CBOT December 2021 corn (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

U.S. grains: Corn futures retreat on profit-taking

Corn still up 12 per cent on week; traders adjust positions before July 4 weekend

Chicago | Reuters — Chicago Board of Trade corn futures retreated on profit-taking on Friday, while soybean futures extended gains fueled by lower-than-expected U.S. acreage estimates and dry weather in part of the Midwest, traders said. Corn pulled back after surging by the daily, exchange-imposed limit on Wednesday when the U.S. Department of Agriculture shocked […] Read more

CBOT December 2021 corn (candlesticks) with MGEX, CBOT and K.C. December 2021 wheats (dark green, yellow and orange lines). (Barchart)

U.S. grains: Corn, soy surge as U.S. farmers plant fewer acres than expected

Traders had expected more U.S. corn, soy acres

Chicago | Reuters — Chicago Board of Trade grain and soybean futures surged on Wednesday after the U.S. Department of Agriculture surprised traders with lower-than-expected plantings estimates and inventory data. Corn climbed by their daily exchange-imposed limit after USDA pegged plantings of the crop at 92.692 million acres, below analysts’ expectations for 93.787 million. The […] Read more


CBOT December 2021 corn (candlesticks) with 20-day moving average (yellow line) and MGEX, CBOT and K.C. September 2021 wheats (black, green and orange lines). (Barchart)

U.S. grains: Court ruling, rains pressure corn, soy

CBOT wheat down, MGEX spring wheat up

Chicago | Reuters — Corn and soybean futures tumbled on Friday after a U.S. Supreme Court ruling bolstered a bid by small oil refineries seeking exemptions from laws requiring them to blend ethanol or other biofuels into their products, traders said. “Each time the markets start to stabilize, having priced in the latest round of […] Read more

CBOT December 2021 corn (candlesticks) with MGEX, CBOT and K.C. September 2021 wheats (green, yellow and orange lines). (Barchart)

U.S. grains: Corn, soy fall as Midwest rains seen boosting crop health

CBOT September wheat down, MGEX September wheat up

Chicago | Reuters — Forecasts for rain in the U.S. Midwest pushed corn and soybean futures lower on Tuesday, traders said. New-crop December corn, which tracks the crop that farmers will harvest in the fall, notched the biggest decline. The contract sagged 3.2 per cent as the storms are expected to provide a much-needed boost […] Read more


CBOT July 2021 soybeans (candlesticks) with 20- and 50-day moving averages (yellow and green lines) and CME July 2021 crude palm oil (purple line). (Barchart)

U.S. grains: Soybean futures fall, corn firm ahead of USDA report

CBOT, MGEX July wheats down; K.C. wheat up

Chicago | Reuters — U.S. soybean futures dropped 1.2 per cent on Wednesday, pressured by a round of profit-taking and weakness in the cash market, traders said. Wheat futures also were mostly lower after rain in the northern U.S. Plains eased some concerns about parched soils limiting the size of the crop. Corn futures were […] Read more

CBOT July 2021 soybeans (candlesticks) with 20-day moving average (dark green line) and ICE July 2021 canola (yellow line). (Barchart)

U.S. grains: Midwest forecast supports gains in soy, corn

CBOT wheat up, MGEX wheat down

Chicago | Reuters — U.S. corn and soybean futures rose on Tuesday after a government report showed that the condition of crops was worse than expected as a heat wave hit the U.S. Midwest. “Yesterday’s Crop Progress report provided plenty of fodder for the bulls,” Matt Zeller, director of market information at StoneX, said in […] Read more