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USDA’s June WASDE report brings few notable changes

Canadian wheat harvest expectation unchanged

MarketsFarm — Very few major changes were made in the latest edition of the world agriculture supply and demand estimates (WASDE) published Friday by the U.S. Department of Agriculture. For the 2023-24 crop year, USDA pegged total domestic wheat production at 1.665 billion bushels, slightly higher than the 1.659 billion in the department’s May estimates. […] Read more

CBOT July 2023 soft red winter wheat with 20-day moving average (green line, right column) and MGEX and K.C. July 2023 wheats (yellow and orange lines, left column). (Barchart)

U.S. grains: Wheat futures snap winning streak

Corn weak, soybeans mixed

Chicago | Reuters — U.S. wheat futures fell on Wednesday, with the most-active Chicago Board of Trade soft red winter wheat contract snapping a five-session rally that had pushed prices to their highest in nearly three weeks, traders said. But concerns about export demand for U.S. supplies pulled wheat prices lower, with high-protein offerings notching […] Read more


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

U.S. grains: Weak export demand, rising U.S. dollar pressure soy, corn

Markets consolidate before U.S. holiday weekend

Chicago | Reuters — Chicago Board of Trade soybean and grain futures eased on Thursday as a strong U.S. dollar added to concerns about lacklustre export demand, traders said. The dollar rose for a fourth straight session to a two-month high, making U.S. commodities look less attractive to importers. Favourable weather for planting of U.S. […] Read more

(Scott Bauer photo courtesy ARS/USDA)

U.S. working on limited bird flu vaccination for turkeys

No decision yet made, U.S. official says

Paris | Reuters — The United States is working on a bird flu vaccination scenario focusing on turkeys in the few states that gather the largest number of turkey farms, a move that would best meet a benefit-cost strategy, its chief veterinary officer said on Tuesday. However, no decision to vaccinate has yet been made, […] Read more


ICE July 2023 canola with 20-day moving average and November 2023 canola (yellow line). (Barchart)

ICE weekly outlook: Unclear where canola wants to go

Soy complex's trend much more apparent

MarketsFarm — While the ICE Futures canola market declined during the week ended Wednesday, the oilseed has been affected by a mixture of supports and pressures, according to commodities futures advisor David Derwin of PI Financial in Winnipeg. The July canola contract dropped $20.60 per tonne during the week to close at $714.10 on Wednesday, […] Read more

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U.K. to increase rapeseed, product output in 2023-24

Input costs seen down so far this year

MarketsFarm — With the rapeseed crop in the United Kingdom estimated at 66 per cent good to excellent, the U.S. Department of Agriculture attaché in London, forecast production for 2023-24 to be 1.38 million tonnes. That would make for a 1.4 per cent increase over the 2022-23 crop. While the attaché pegged planted and harvest […] Read more


The USDA building in Washington, D.C. (Art Wager/iStock/Getty Images)

Record U.S. corn, soybean crops for 2023-24, USDA says

U.S., worldwide wheat ending stocks expected down on year

MarketsFarm — The United States may be in the midst of growing record-breaking corn and soybean crops if the U.S. Department of Agriculture (USDA) is correct. USDA on Friday released its monthly world agricultural supply/demand estimates (WASDE), which included its first U.S. production estimates for 2023-24. The report also provided ending stocks projections for new […] Read more

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CBOT weekly outlook: Traders, analysts anticipate WASDE report

El Nino also worth watching longer-term

MarketsFarm — While traders and analysts continue to keep an eye on weather conditions, their collective focus will momentarily shift on Friday when the U.S. Department of Agriculture (USDA) releases its monthly world agricultural supply/demand estimates (WASDE). This month’s report will be highly significant as it will announce the first U.S. crop production estimates for […] Read more


Damage is seen from a rain-wrapped tornado at Cole, Okla., just south of Oklahoma City, on April 19, 2023, in a screengrab from a social media video. (Photo: Hans Duran video screengrab via Reuters)

CBOT weekly outlook: U.S. rain, StatCan report biggest influences

Russia's sabre-rattling not yet swaying markets

MarketsFarm — The three to five inches of rain received Wednesday in Kansas and Oklahoma have put pressure on Kansas City and Chicago wheat prices on the Chicago Board of Trade (CBOT), according to broker Ryan Ettner of Allendale Inc. Added to that, Statistics Canada’s (StatCan) report on prospective plantings, also received Wednesday, has weighed […] Read more

EU flags in front of the headquarters of the European Commission in Brussels. (Jorisvo/iStock/Getty Images)

More grain for European Union in 2023-24, USDA projects

Larger production seen reducing need for imports

MarketsFarm — The U.S. Department of Agriculture’s (USDA) attaché in Madrid is projecting an increase in grain production for the European Union (EU) in 2023-24. In USDA’s Global Agricultural Information Network (GAIN) report released Wednesday, the attaché pegged the EU’s 2023-24 grain production at 284.7 million tonnes, 17.9 million more than this year’s crop which […] Read more