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CBOT weekly outlook: Markets react to WASDE

MarketsFarm — Trading at the Chicago Board of Trade (CBOT) was mostly affected by the release of the U.S. Department of Agriculture’s supply and demand estimates (WASDE) released earlier today. Corn, wheat and soybeans were all projected for greater worldwide production in the 2021-22 crop year compared to the previous year. Worldwide corn production is


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USDA expects record world wheat crop in 2021-22

MarketsFarm — The latest U.S. forecast puts world wheat production at a new record in 2021-22, with bigger crops in a number of countries more than offsetting expected decreases in Canada and Australia. According to the first outlook for the marketing year from the U.S. Department of Agriculture, total world wheat production for 2021-22 is

CBOT July 2021 soybeans (candlesticks) with 20- and 100-day moving averages (light and dark green lines) and CBOT May 2021 soyoil (yellow high/low/close and left column). (Barchart)

U.S. grains: Soybeans reach highest since 2012 on supply woes

Corn, wheat down on WASDE report

Chicago | Reuters — U.S. soybean futures set an 8-1/2-year high on Wednesday after a key U.S. government crop report projected that supplies of the oilseed would remain tight even after the 2021 U.S. harvest. Soaring CBOT soybean oil futures lent support, with the thinly traded May soyoil contract reaching 72.32 cents/lb., an all-time high


Canadian Financial Close: C$ steady

By MarketsFarm WINNIPEG, May 12 (MarketsFarm) – The Canadian dollar hit its strongest levels in six years relative to its United States counterpart on Wednesday, but ran into resistance to settle unchanged on the day. The Canadian dollar closed at US$0.8267 or US$1=C$1.2096 on Wednesday, which was steady with Tuesday’s North American close. Data out

French cereal crop ratings fall sharply after dry, cold spell

The condition of French wheat and barley declined sharply in the week to April 26, data from farm office FranceAgriMer showed on Friday, suggesting a growing impact from dry, cold weather this month. Most crops nonetheless remained in good shape and above year-earlier levels, the data showed. A dry spring so far in much of


North American Grain and Oilseed Review: Attention towards canola turns to new crop, weather

USDA report produces mixed results

By Glen Hallick, MarketsFarm WINNIPEG, May 12 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures witnessed strong gains in the new crop months on Wednesday, while old crop July fell to its down limit. A trader said there has been a tremendous amount of rolling out of that July contract into November after the former exceeded



Global Markets: Canada stepping into Line 5 dispute

Michigan governor calls pipeline 'a ticking time bomb'

Compiled by Glen Hallick, MarketsFarm WINNIPEG, May 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The Canadian government announced on Wednesday it will intervene in the possible shut down of Enbridge’s Line 5 pipeline that runs through Michigan carrying oil and gas to Eastern Canada.

ICE canola mixed, awaiting USDA report

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 12 (MarketsFarm) – The ICE Futures canola market was mixed Wednesday morning, with losses in the nearby July contract and gains in the more deferred positions. Speculative profit-taking accounted for some of the selling pressure in the July contract, with end-user buying interest also shifting to the new crop