GFM Network News


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

CBOT weekly outlook: Look for May USDA report to be bullish

New WASDE will include first projections for 2021-22

MarketsFarm — With the next supply and demand estimates from the U.S. Department of Agriculture (USDA) a week away, broker Ryan Ettner provided his outlook on the report. “[Soybean] exports have been good enough to meet the USDA’s expectations,” but maybe not enough to adjust any of their numbers, said Ettner, a broker for Allendale […] Read more

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CBOT weekly outlook: Focus to shift after USDA’s largely stand-pat WASDE report

MarketsFarm — There was little change in U.S. markets shortly after the release of the latest supply and demand estimates from the U.S. Department of Agriculture (USDA). But that scenario could change for wheat markets, said Steve Georgy, president of Allendale Inc. at McHenry, Ill. “We’ve got to pay attention to how the wheat markets […] Read more


CBOT May 2021 corn with Bollinger (20,2) bands. (Barchart)

U.S. grains: Corn climbs on exports, ethanol

Dry weather expected to slow U.S. spring wheat seeding; soy steady ahead of WASDE

Chicago | Reuters — U.S. corn futures climbed on Thursday on export optimism and positioning ahead of the U.S. Agriculture Department’s monthly supply and demand report, out on Friday, traders said. Wheat gained as frigid temperatures across Europe and the Black Sea region threatened crops. Soybeans were also firmer. The most-active corn contract on the […] Read more

CBOT May 2021 soybeans with Bollinger (20,2) bands. (Barchart)

U.S. grains: Soybean futures advance on supply concerns

Traders watch U.S. planting progress, crop weather

Chicago | Reuters — Chicago Board of Trade soybean futures jumped on Monday on concerns about U.S. supplies dwindling due to strong export demand and smaller-than-expected plantings. The U.S. Department of Agriculture shocked traders last week by reporting that U.S. farmers plan to sow 87.6 million acres with soybeans this spring and 91.1 million acres […] Read more


ICE May 2021 canola (candlesticks) with 30-day moving average (green line) and CBOT May 2021 soyoil (yellow line). (Barchart)

ICE weekly outlook: Canola’s correction likely short-lived given tight supplies

MarketsFarm — The ICE Futures canola market ran into a profit-taking correction on Wednesday, backing away from recently-hit contract highs. While a further correction is possible, the underlying fundamentals remain supportive and canola is expected to retain its relative strength to other oilseeds. “The market needs bullish fuel, but it’s just not getting any,” said […] Read more

Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)

CBOT weekly outlook: WASDE unexpectedly bearish for corn

MarketsFarm — Corn prices on the Chicago Board of Trade immediately turned sour after Tuesday’s release of the monthly supply and demand report from the U.S. Department of Agriculture. By the time trading closed for the day, soybeans had recovered from losses incurred shortly after the report’s release to finish in double-digits on the plus […] Read more


CBOT March 2021 corn with Bollinger (20,2) bands. (Barchart)

U.S. grains: Corn tumbles as USDA projects supplies above market expectations

USDA slashes global wheat supply as feeding to increase

Chicago | Reuters — U.S. corn futures dropped on Tuesday after the U.S. Department of Agriculture (USDA) projected supplies of the grain above market expectations in a monthly report, taking prices down from 7-1/2 year highs posted earlier in the day. Soybean futures rose to a three-week top on a tighter supply outlook by USDA, […] Read more

CBOT March 2021 corn with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Corn ends flat after vaulting to 7-1/2 year high

Corn sales to China spurred climb

Chicago | Reuters — U.S. corn futures settled nearly flat on Thursday after a volatile session in which the benchmark contract hit its highest level in 7-1/2 years, buoyed by U.S. corn sales to China, only to retreat on profit-taking, traders said. Soybean and wheat futures closed lower in technical trade, despite concerns about tightening […] Read more


ICE March 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: WASDE spillover boosts canola

Canola may soon become price-sensitive, analyst says

MarketsFarm — Sharp increases in soybean, corn and wheat futures on Tuesday, following the release of the latest supply and demand report from the U.S. Department of Agriculture (USDA), in turn spilled over into canola. The most significant factors in USDA’s world agricultural supply and demand estimates (WASDE) were further reductions to ending stocks for […] Read more

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CBOT weekly outlook: Some surprises in USDA’s WASDE

MarketsFarm — The U.S. Department of Agriculture has thrown a few curveballs in an otherwise mundane supply-and-demand report issued Thursday, according to broker Ryan Ettner of Allendale Inc. at McHenry, Ill. Although USDA, in its December world agricultural supply and demand estimates (WASDE), lowered soybean ending stocks for the 2020-21 marketing year, the cut wasn’t […] Read more