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Argentina’s grain export revenue plunges in January

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Argentina’s revenue from exports of grain, oilseeds and their derivatives plummeted 61 per cent in January from a year ago, exporters and crushers chamber CIARA-CEC said Feb. 1, in a setback as the country tries to refill foreign currency reserves. Exports totaled US$928.37 million in the first month of the year, also falling 75 per
Brazil’s soybean crop this year is expected to more than offset any drought-reduced yields in neighbouring Argentina.
Grain Markets, Markets

No breakout for rangebound canola for now

New StatCan and USDA data aren’t expected to offer much impetus

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There is likely nothing substantial over the next few months that could break canola and other vegetable oils out of their rangebound state. Canola, for instance, continued to vacillate between $800 and $850 per tonne during the week ended Feb. 2. In recent weeks the Canadian oilseed has pushed towards $900/tonne, its upper level of
ICE March 2023 canola with 20-day moving average (yellow line, right column) and Canadian dollar value in U.S. dollars (red line, left column). (Barchart)
Crops, Markets

ICE weekly outlook: March canola unchanged from last week

Loonie's relative strength seen as drag on values

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MarketsFarm — The ICE Futures canola market was once again trading rangebound for the week ended Wednesday, as the March contract was left unchanged from one week earlier at $828.20. The contract oscillated between a range of $819.40 and $837 per tonne during the week, all the while seemingly immune from larger price ranges seen
CBOT March 2023 soft red winter wheat with 20-day moving average, MGEX March 2023 hard red spring wheat (yellow line) and K.C. March 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Weather

U.S. grains: Chicago wheat, corn, soy firm on WASDE report

South America's weather drags on competing exports

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Chicago | Reuters — Chicago wheat, corn and soybean futures firmed on Wednesday, supported by weather conditions in South America that hamper rival exports, though higher-than-expected U.S. supplies limited gains. The most-active wheat contract on the Chicago Board of Trade (CBOT) added 15 cents to $7.64-3/4 a bushel (all figures US$). CBOT soybeans added 4-1/2
(Dave Bedard photo)
Crops, Markets

Grain stocks come in as projected

StatCan report deemed neutral for canola and spring wheat, supportive for durum

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MarketsFarm — Stocks of Canadian grains at year-end appear to be pretty much in line with market expectations. Statistics Canada on Tuesday issued its report on stocks as of Dec. 31, 2022, which highlighted notable increases in most grains, further signaling a recovery from the 2021 drought. “Stocks reports are important because they confirm the
CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Corn, soybeans fall ahead of USDA report

U.S. wheat futures end mixed

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Chicago | Reuters — Chicago Board of Trade soybean and corn futures fell on Tuesday as investors squared positions ahead of the U.S. government’s key monthly reports on global supply and demand. Traders were focused on the size of the corn and soybean harvests in Argentina as drought stressed the crops in that key global
(CPR.ca)
Crops, Weather

Absence of issues leads to January record for grain movement

CN, CP so far see 'calamity-free' 2022-23

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MarketsFarm — So far this winter grain movement in Canada has yet to incur few — if any — major problems that have stymied rail shipments, according to Mark Hemmes, president of Quorum Corp., which tracks rail movement in Canada. Canadian Pacific Railway and Canadian National Railway (CP, CN) have been doing good jobs during
CBOT March 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Soy futures fall on technical selling

Corn edges higher; wheat weak

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Chicago | Reuters — U.S. soybean futures dropped on Monday on a technical setback after rallying to the high end of recent trading ranges last week, traders said. Corn ended higher after trading in negative territory for much of the day, with the market finding support near Friday’s low. Investors were waiting for news about
CBOT March 2023 soymeal with 20-day moving average (brown line, right scale) and CBOT March 2023 soybeans (dark green line, left scale). (Barchart)
Crops, Markets

U.S. grains: Soymeal futures set multi-year high while soybeans decline

CBOT wheat down off one-month top; CFTC trading report to be delayed

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Chicago | Reuters — U.S. soybean futures declined on Friday on spillover weakness from crude oil prices and expectations of a massive Brazilian soy harvest, but most-active soymeal futures set an 8-1/2-year high on tight supplies of the feed ingredient, analysts said. Wheat futures fell on profit-taking after rising to a one-month top while corn
CBOT March 2023 soybeans with 20-day moving average (yellow line, right column) and CBOT March 2023 soymeal (brown line, left column). (Barchart)
Crops, Markets

U.S. grains: Soybean futures climb as soymeal soars

Chicago corn retreats, wheat inches higher

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Chicago | Reuters — U.S. soybean futures rose on Thursday as uncertainty about crop prospects in Argentina lifted soymeal futures to life-of-contract highs, traders said. Corn futures fell on technical selling and a bounce in the U.S. dollar, which tends to make U.S. grains less competitive globally, although U.S. corn export sales in the latest

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