Chicago wheat futures climbed on Tuesday after the U.S. Department of Agriculture reported that the U.S. winter wheat crop was in worse condition than the trade had expected, according to analysts.
Ukrainian grain exports are expected to be down in the 2024/25 marketing year due to smaller crops, tighter carryout stocks and the ongoing challenges of shipping through the Black Sea, according to the United States Department of Agriculture’s Foreign Agricultural Service in Kyiv.
Chicago Board of Trade soybean futures fell on Monday as crude oil prices dipped and harvest pressure dragged down soy and corn prices, market analysts said.
As wheat production in Argentina is projected to increase in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires, the country’s corn output is to be smaller than in the previous year.
The net fund short position in canola fell to its lowest level in six months during the week ended Oct. 22, as speculators covered bearish bets and put on new longs, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Chicago Board of Trade soybean and corn futures fell on Friday, as hefty supply from a rapid U.S. harvest weighed heavily over contracts, market analysts said.
Rising corn prices in the United States could provide support for feed grains in Western Canada, although the current price spread remains conducive for imports of U.S. corn into Canadian feed channels.
Harvest operations across Manitoba are nearly complete, with only sunflowers and corn still left to come off the fields, according to the latest provincial crop report for the week ended Oct. 22.
Chicago soybean futures edged higher on Wednesday as U.S. Vice President Kamala Harris' lead over Republican challenger Donald Trump in some election polls calmed concerns that a trade war with China could heat up, according to analysts.