The Manitoba government’s pulse specialist said crops are in good condition across the province, but they need some hot temperatures in the days ahead.
Soybeans
Pulse Weekly: Warm, dry weather needed in Manitoba
U.S. grains: Soybean, grain futures drop on expectation of positive crop report
Chicago Board of Trade soybeans and corn futures on Monday dropped to around the lowest prices in four years, as traders expected a positive picture of U.S. crop progress from the U.S. Department of Agriculture (USDA) in a report due later in the day.
Fund short position in canola at four-month high to start July
Fund traders continued to add to their large net short positions in canola as the calendar flipped to the final month of the 2023/24 marketing year for the crop, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Alberta crops doing quite well
Crops throughout Alberta stood at 75 per cent good to excellent as of July 2, according to the latest crop report from the provincial agriculture department. That was eight points above the five-year average despite cooler than normal temperatures and delayed crop development due to excessive rain for most of the province so far this year.
Corn keeps markets bearish
The USDA reported sky-high corn plantings this season, surprising the trade
Corn, wheat and soybeans all held near their lowest levels in months, if not years, in the week following Canada Day.
U.S. grains: US wheat futures up on strengthening demand
Chicago Board of Trade wheat futures spiked on Friday amid an uptick in demand for U.S. wheat due to a weaker dollar and the availability of desirable new-crop wheat, traders said.
U.S. grains: Soybean futures recover from four-year low
Chicago Board of Trade soybean futures rose on short covering on Wednesday after nearing a four-year low this week on concerns about large supplies and lackluster U.S. export demand, analysts said.
ICE Weekly: ‘Soyoil scare’ fuels canola’s comeback
While the November contract fell below C$600 per tonne on June 26 for the first time since late February, it has since gained more than C$50 to close at C$652.70 on July 3. Earlier that day, the contract reached C$659.70, its highest level since June 7.
CBOT Weekly: Still at the behest of the weather
United States corn and soybean crops continued to remain at whatever whims the weather brings, according to John Weyer of Walsh Commercial Hedging Services in Chicago.
Brazil pushing towards wheat self-sufficiency
The USDA attaché in the country’s capital of Brasilia said the expansion of wheat will include cultivating “tropical wheat” in the savanna-like region in central Brazil known as the Cerrado biome. These varieties of tropical wheat are reported to be better resistant to dry weather.
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