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CBOT weekly outlook: South America’s dry weather affecting soy complex

'We’re back to trading weather right now'

MarketsFarm — The U.S. Department of Agriculture’s world agricultural supply and demand estimates (WASDE) report last week is taking a back seat to drought concerns in South America, according to a Chicago grains analyst. Terry Reilly from Futures International said Friday’s WASDE report had very little effect on the Chicago Board of Trade (CBOT), which

CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Corn, wheat futures ease

Chicago soybean futures firm

Chicago | Reuters — U.S. corn and wheat futures fell on Wednesday after hitting 11-day highs a day earlier as traders waited for more bullish news before pushing grain prices above those recent peaks. Soybeans were firm, shedding overnight weakness, with investors hoping that export demand for U.S. supplies of the oilseed will remain strong


CBOT March 2023 soybeans with 10-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Soybean futures rise

Chicago wheat, corn values fall

Chicago | Reuters — U.S. soybean futures rose on Tuesday, supported by a round of bargain buying after two days of losses as well as signs that export demand remains strong, traders said. Corn and wheat futures weakened on a round of profit taking after hitting 10-day highs early in the session, with light demand

Country elevators have taken in a lot more wheat so far this crop year but global markets are quickly soaking it up.

Grain movement stats are a window into the market

Weekly numbers from the grain commission give near real-time data on deliveries and exports

Glacier FarmMedia – Keep an eye on the weekly numbers for producer deliveries and grain exports, says one crops market analyst. “Weekly updates from the Canadian Grain Commission provide useful crop market movement and demand information,” said Neil Blue, who works for the Alberta government. The grain commission data covers grain and oilseeds moved in


French winter crops in near perfect condition

French crops are in good shape entering the winter with an estimated 98 per cent of soft wheat in good or excellent condition as of Nov. 28, data from farm office FranceAgriMer showed on Dec. 2. The rating suggests strong potential for next year’s harvest, but crops tend to be more affected from spring onwards,

CBOT March 2023 soft red winter wheat with 20-day moving average (green line), MGEX March 2023 hard red spring wheat (yellow line) and K.C. March 2023 hard red winter wheat (orange line). (Barchart)

U.S. grains: Wheat, corn up on Black Sea export concerns

Chicago January soy falls

Chicago | Reuters — U.S. wheat and corn futures rallied on Monday after a weekend attack that temporarily shut down key port for Ukrainian exports raised concerns about disruptions to grain shipments, traders said. Soybean futures dropped following rains in Argentina that alleviated concerns about crop shortfalls from that key export country. News that the


Since May 2022 estimate of Argentina’s wheat harvest, drought and frosts have hit the crop hard.

Argentina exchange warns more wheat cuts likely as yields disappoint

Argentina’s wheat production outlook is likely to face more cuts due to lower-than-expected yields, the Buenos Aires grains exchange said Dec. 1, as harvest advances in the midst of a prolonged drought. In a weekly crop report, the exchange said 2022-23 wheat production, which it estimates at 12.4 million tonnes, is showing “yields below expected”

Cows graze on perennial intermediate wheatgrass developed at the University of Manitoba.

Livestock research gains higher profile in province

An easy-to-understand website is designed to give producers greater insight into research efforts

Manitoba farmers have a new window into livestock research conducted in the province. A recent update to the website for the National Centre for Livestock and the Environment (NCLE) has a central goal of engaging producers more effectively. “A lot of the funding for this type of research does really come from producers,” says NCLE


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Prairie cash wheat: U.S. futures drag on bids

Futures drop to multi-month lows

MarketsFarm — Wheat futures on the Chicago Board of Trade (CBOT) hit multi-month lows, which put pressure on Western Canadian wheat bids, during the week ended Thursday. Despite tighter wheat supplies in the U.S. and worldwide compared to last year, as well as the ongoing Russian invasion of Ukraine, wheat futures reached depths which weren’t

CBOT January 2023 soybeans with Bollinger bands (20,2). (Barchart)

U.S. grains: Soybeans ease on global stocks

Exports, South American weather underpin soy; corn steady

Chicago | Reuters — Chicago soybeans eased on Friday after the U.S. Department of Agriculture (USDA) increased its estimate of global ending stocks, though strong exports and South American weather concerns underpinned the market. Corn traded both sides of even, despite an increase in U.S. stockpiles, while wheat eased. The most-active soybean contract on the