
Tag Archives Wheat

Latest StatCan stocks report ‘least important of them all’
Wheat, canola numbers not expected to have significant impact on markets
MarketsFarm — For MarketsFarm Pro analyst Mike Jubinville, there was little in the latest Statistics Canada (StatCan) grain stocks report that would budge the markets. “When I look at the run of StatCan reports that we get through the year, whether they’re acreage, production or ending stocks, this report in May is the least important […] Read more

U.S. grains: CBOT corn, soy, wheat fall on bearish weather
U.S. soy planting seen at near-record pace
Chicago | Reuters — Chicago Board of Trade corn and soybean futures dropped on Tuesday, under pressure from a fast pace of planting across key production areas of the U.S. Midwest and an outlook for good growing weather once seeding is finished, traders said. Soft red winter wheat futures also weakened, with the benchmark CBOT […] Read more

Canola fund short position grows
Funds also net short in U.S. wheats
MarketsFarm — The managed money net short position in canola grew in early May as fund traders were busy liquidating long positions and moving more money to the short side of the market, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 2, the net […] Read more

U.S. grains: Chicago grains end week up as no new Black Sea ships authorized
Markets also have eye toward U.S. crop report
Mexico City | Reuters — Chicago grains and soy ended the week higher on Friday as hopes dimmed for the renewal of a U.N.-brokered deal allowing the safe Black Sea exports of Ukraine grain. Ukraine, Russia, Turkey and the United Nations failed to reach an agreement to authorize any new vessels to carry out Black […] Read more

U.S. grains: Chicago grains flat or down with weather, Black Sea in focus
Large Russian supplies temper fears over Black Sea deal collapse
Mexico City | Reuters — Chicago grain futures closed flat or lower on Tuesday, with wheat hitting a 21-month low, as markets were weighed down by a dip in stocks and crude oil and clear forecasts for U.S. planting weather, traders said. Corn closed slightly up as the market weighed increasing export competition from Brazil, […] Read more

AAFC raises canola stocks projections
StatCan's early acreage estimates due out this week
MarketsFarm — Canola ending stocks for both the current marketing year and 2023-24 were raised slightly by Agriculture and Agri-Food Canada (AAFC) in its latest supply/demand projections, released Friday. The government agency lowered its canola export forecast for 2022-23 by 200,000 tonnes from March, now pegging movement at 8.4 million tonnes. With domestic usage left […] Read more

U.S. grains: Cheap Brazilian soybeans destined for U.S.
U.S. weather, Ukrainian exports also in focus
Mexico City | Reuters — U.S. soybean futures closed the week down on Friday, extending losses as cheap Brazilian beans were being snatched up by the U.S., the second-largest soy producing country in the world. A drop in prices due to abundant local supplies and cooling demand have made Brazil an attractive origin for soybeans, […] Read more

U.S. grains: Chicago grains down on export data, weather
EU transit plan, Black Sea inspections temper Ukraine fears
Reuters — Chicago grains closed lower Thursday on lower-than-expected U.S. soybean export sales data, and favourable weather that would allow for planting to accelerate in the Midwest farm belt. Grains prices were also impacted by crude oil falling. The U.S. Department of Agriculture said soybean weekly export sales totalled 103,000 tonnes, below forecasts. “Export sales […] Read more

World production seen up with more corn, soybeans
IGC holds wheat production estimate steady
MarketsFarm — As the International Grains Council (IGC) raised its estimate for total world grain production in 2023-24, its forecast on corn and soybeans were increased as well. Meanwhile, production estimates for wheat were held steady. The London-based IGC issued its latest supply and demand report on Thursday. World grain production was bumped up by […] Read more

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