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Soybeans

Interest rates remain of interest to grain traders
Grain Markets, Markets

Interest rates remain of interest to grain traders

Expert's Radar: A rising U.S. dollar may drag on futures

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Much of the attention in North American grain and oilseed markets has shifted to production prospects in South America, as wheat fields develop in Argentina and farmers in Brazil work on seeding their next soybean and corn crops. Weather there will be a major factor on traders’ radar over the next few months, but larger financial and geopolitical issues will
CBOT January 2024 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Chicago soy soars on Chinese buying, Brazilian weather

Corn futures rise on U.S. sales to Mexico

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Chicago | Reuters — Chicago soybean futures sharply rallied on Monday on Chinese demand and scorching heat in Brazil, where farmers are expected to face crop-stressing temperatures over the next several days. Meanwhile, corn futures rose on technical trading and support from news of Mexico buying U.S. grain — a move up that also gave
CBOT December 2023 corn with Bollinger bands (20,2). (Barchart)
Crops, Markets

U.S. grains: Chicago corn slumps on forecast for record-large crop

Crude oil recovery lends some support to grains

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Chicago | Reuters — Chicago corn futures posted a third straight weekly decline on Friday, as traders reacted to a government forecast that U.S. farmers will produce a record-large crop this year. Wheat was lower, following corn. Commodity funds hold a sizeable net short position in Chicago wheat futures, leaving the market prone to volatility
CBOT December 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Chicago grain, soy futures drop after USDA forecasts

China buys over one million tonnes of U.S. soy

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Chicago | Reuters — The Chicago Board of Trade’s most-active corn futures plunged sharply on Thursday after the government reported that U.S. farmers will produce the biggest-ever corn crop this year. The report’s forecast topped trade estimates. The most-active CBOT corn contract at one point dipped to $4.66-1/2, the lowest price since Dec. 30, 2020,
File photo of a partially harvested cornfield in Minnesota. (Emholk/iStock/Getty Images)
Crops, Markets

USDA’s WASDE report throws a few curveballs

Corn carryover up significantly

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MarketsFarm — There were some surprises in the November world agricultural supply and demand estimates (WASDE) from the U.S. Department of Agriculture, released Thursday. USDA defied trade expectations when it came to 2023-24 ending stocks of U.S. corn, soybeans, and all wheat, with those being higher. As well, the department came in above what the
Canola crush margins are already historically wide and domestic processors show good demand.
Grain Markets, Markets

Fund traders not looking to lose their shorts

Signs of a corrective bounce exist, but so does a record-high net short

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ICE Futures canola contracts lost roughly $150 per tonne over the past two months, as speculators put on large short positions and exaggerated the seasonal harvest pressure. Values hit fresh four-month lows as the calendar flipped to November, but the market was also showing signs of a possible corrective bounce. The most active January contract
ICE January 2024 canola with 20-day moving average (yellow line, right column) and CBOT January 2024 soybeans (green line, left column). (Barchart)
Crops, Markets

ICE weekly outlook: Soy complex supporting canola

'Canola has been largely pulled up'

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MarketsFarm — Amid falling crude oil prices, canola prices are staying strong, largely due to the Chicago soy complex, according to a Calgary analyst. Errol Anderson of ProMarket Communications has been impressed with canola’s recent rise. The January contract on ICE Futures was as low at $672 per tonne on Nov. 2 before rising to
(Qingwa/iStock/Getty Images)
Crops, Markets

CBOT weekly outlook: Small changes expected in November WASDE

'Corn is going to be an issue in Brazil'

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MarketsFarm — There will likely be some minor tweaks to the November supply and demand report from the U.S. Department of Agriculture on Thursday. USDA is set to publish its world agriculture supply and demand estimates (WASDE) at 11 a.m. CT. “I would say the [U.S.] corn production estimates are very likely to hold steady,
CBOT January 2024 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Soybeans spike on China demand, Brazil weather

Wheat rallies on Argentina outlook

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Chicago | Reuters — Chicago soybean prices rallied to a two-month high on Wednesday, after the U.S. Department of Agriculture confirmed a Reuters report that China booked its largest single-day U.S. soybean purchases since at least late July. Unfavourable weather conditions in Brazil were also supportive, traders said. Meanwhile, corn turned higher on the day
File photo of a soybean plantation in Brazil. (Mailson Pignata/iStock/Getty Images)
Crops, Markets, Weather

Brazil’s second corn crop facing delays

Acres either too dry or too wet for planting

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MarketsFarm — There remained little doubt that Brazil’s corn safrinha (second) crop will be smaller than initially anticipated, according to Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. He chalked up most of that due to conditions being too dry and too wet for the planting of Brazil’s soybean crop, depending on the region.

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