SOYBEAN futures at the Chicago Board of Trade eased back on Wednesday, due to market uncertainty being generated by the Middle East war. However, Chicago soyoil climbed higher as crude oil turned narrowly mixed after shedding its earlier losses.
Ahead of the weekly export sales report from the United States Department of Agriculture on Thursday, trade expectations pegged soybean sales at 300,000 to one million tonnes. Soymeal was estimated at 200,000 to 500,000 tonnes and soyoil at net reductions of 20,000 tonnes to net sales of 26,000 tonnes.
APK-Inform estimated Ukraine’s 2026/27 rapeseed crop at 3.70 million tonnes, down 200,000 from its February projection. If the outlook holds, that would be an increase of 400,000 tonnes from 2025/26 and on par with 2024/25.
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ICE Closing Review: Canola overcomes choppy trading
By Glen Hallick Glacier FarmMedia – Intercontinental Exchange canola futures closed higher on Wednesday, after a bout of choppy trading….
CORN futures were lower on Wednesday, in sympathy with soy.
The U.S. Energy Information Administration reported ethanol production for the week ended Feb. 27, averaged 1.10 million barrels per day, up 18,000 BPD. Ethanol stocks increased by 691,000 barrels at 26.34 million.
The USDA announced a private sale for 125,000 tonnes of old crop corn to unknown destinations.
Forecasts for U.S. corn export sales were placed at 600,000 to 1.60 million tonnes of old crop, plus zero to 100,000 tonnes of new crop.
WHEAT futures were down as well on Wednesday, following soy and corn.
The Kansas crop progress report rated that state’s winter wheat 58 per cent good to excellent, down three points from a month ago.
Market projections of U.S. wheat export sales came to 200,000 to 500,000 tonnes of old crop and zero to 100,000 tonnes of new crop.
