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CBOT July 2020 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Corn gains on short-covering

Soy firms on export deal

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Chicago | Reuters — U.S. corn futures rose 2.4 per cent on Wednesday as traders unwound bearish bets following the market’s decline to its lowest since September 2009 on Tuesday, traders said. “Corn got down to the lowest prices yesterday we have seen in many years, and we have a short-covering bounce,” said Greg Grow,
(Dave Bedard photo)
Crops

Bunge to sell 35 U.S. elevators to Zen-Noh Grain

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Chicago | Reuters — Agricultural commodities trader Bunge said on Tuesday it will sell 35 of its interior U.S. grain elevators to Zen-Noh Grain, dramatically reducing its grain origination network in the United States. Financial details of the sale with the subsidiary of Japan’s Zen-Noh Group were not disclosed, and the deal is subject to
CBOT May 2020 corn (candlesticks) with 20-, 50- and 100-day moving averages, and NYMEX May 2020 WTI crude oil (purple line). (Barchart)
Crops, Markets

U.S. grains: Corn hits lowest since September 2009

Soybeans firm on bargain buying; wheat mixed

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Chicago | Reuters — U.S. corn futures fell 1.4 per cent on Tuesday to a fresh 10-1/2-year low as crumbling demand for fuel due to the global coronavirus pandemic threatened the ethanol sector. “They are taking their cue from energy,” said Mark Schultz, chief market analyst at Northstar Commodity. “It is a pretty tough business
CBOT May 2020 corn (candlesticks) and NYMEX May 2020 WTI crude oil (blue line). (Barchart)
Crops, Markets

U.S. grains: Corn sinks to lowest since 2009 as crude oil turns negative

Russian export curbs support CBOT wheat

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Chicago | Reuters — Chicago Board of Trade corn futures sagged 2.6 per cent to its lowest since September 2019, with a plunging crude oil market slashing demand for ethanol, traders said. Soybean futures also were lower, hitting a one-month low on pressure from cratering demand for energy amid the coronavirus pandemic. “Anything that had
A kochia seedling breaks ground near Winkler in late March.
Crops

Spring weeds rise up well ahead of seeding efforts

Weed forecasts have farmers expecting to reap the consequences of last year’s lack of field work

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Farmers are gearing up for spring seeding, but the weeds have already made it to the field. Manitoba’s provincial weed specialist, Tammy Jones, says producers are already starting from behind on weed control this year, thanks in large part to harvest conditions last fall. Why it matters: Seeding is stressful enough as is, but farmers
Burnett on Markets: Global grain stocks offer false sense of food security
Crops, Markets

Burnett on Markets: Global grain stocks offer false sense of food security

In event of production shortfall, 60 per cent of available stocks would never be available to market

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The economic parallels from the COVID-19 epidemic are quickly changing from comparisons to the recent financial crisis in 2008-09 to the Great Depression. My parents and grandparents lived through the Depression and it did have many impacts on their everyday lives. The main symbol of the Depression-era mentality was the two enormous chest freezers in
CBOT May 2020 wheat with Bollinger (20,2) bands. (Barchart)
Crops, Markets

U.S. grains: Chicago wheat stabilizes

Corn steady after lows; soybeans continue to slip

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Chicago | Reuters — Chicago wheat futures rose on Friday, as traders wrestled with conflicting signals — from concerns over export demand of U.S. crops to the potential of weather risks. Corn futures edged higher on bargain shopping, consolidating above a 3-1/2 year low this week, while soybeans fell slightly, traders said. The modest gains
Bulk wheat being loaded on a ship in a Russian port. (YGrek/iStock/Getty Images)
Crops, Markets

Russia will suspend grain exports for six weeks if quota runs out mid-May

Several supplies to Egypt might be affected, traders say

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Moscow | Reuters — Russia, the world’s biggest wheat exporter, will suspend grain exports until July 1 once its export quota is exhausted, which is currently expected to happen in mid-May, its deputy agriculture minister Oksana Lut said on Friday. Russia last fully banned wheat exports in 2010 when drought hit its harvest, rocking global

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