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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


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”

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


CBOT January 2023 soybeans (candlesticks, right column) with 20-day moving average (yellow line) and CBOT January 2023 soybean meal (purple line, left column). (Barchart)

U.S. grains: Soybeans firm on exports, meal strength

Chicago wheat hits fresh 13-month low

Chicago | Reuters — Chicago soybeans climbed on Tuesday, supported by fresh export sales and contract highs in soybean meal as weather concerns threaten Argentina’s crop, traders said. Wheat ended the session lower after trading near even much of the day, falling to fresh 13-month lows on strong global supplies. Corn followed wheat lower, despite

File photo of a soybean plantation in Brazil. (Mailson Pignata/iStock/Getty Images)

Cordonnier stands pat on South American crop projections

La Nina 'is still out there,' analyst says

MarketsFarm — At this point in the South American planting season it’s too early to get an accurate bead as to how much corn and soybeans will be grown in Brazil and Argentina, according to Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. at Hinsdale, Ill. Cordonnier recently issued his latest estimates, keeping his


CBOT December 2022 corn with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Chicago futures slide on profit taking, slumping dollar

Wheat slips following USDA report

Chicago | Reuters — Chicago corn, wheat and soybean futures all fell on Thursday as investors across the board sought to take profits amid global supply questions, even as the U.S. dollar tumbled on news that U.S consumer prices rose less than expected in October, traders said. The monthly U.S. inflation reading is being closely

Over 70 per cent of Argentina’s 2021-22 soybean crop sold

Over 70 per cent of Argentina’s 2021-22 soybean crop sold

Soybean producers had sold 70.3 per cent of Argentina’s 2021-22 crop through the third week of October, the agriculture ministry said Oct. 26.  The portion of the soybean crop sold to date underperforms the 74.2 per cent sold during the same period in the 2020-21 season.  Argentina, the world’s top exporter of processed soy, harvested


Argentina grain inspectors threaten to walk out over company conflict

Argentina’s union for grain inspectors has threatened to walk out over disagreements with an agro-export company in protests that could disrupt the country’s critical grains exports sector. The union, whose members include port workers and technicians who review grains loaded on boats, is in conflict with food exporting company Desdelsur SA over what it says

Agricultural engineer Maximiliano Marzetti checks genetically modified wheat with a strain called HB4, which has a gene that helps it better tolerate drought, inside a laboratory at Bioceres Crop Solutions in Rosario, Argentina, July 19.

Argentina gambles on GM wheat

As war and drought hit global crops, Latin American nation sees opportunity for technology

Reuters – In fields near the Argentine farm town of Pergamino, spiky green shoots of wheat stretch in neat rows to the horizon. It is a crop that developers hope will boost yields of the grain thanks to a single gene borrowed from sunflowers to help it better tolerate drought.  Reached along a dusty farm