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U.S. corn ending stocks in the latest WASDE report were estimated at 1.182 billion bushels.
Grain Markets, Markets

Corn still bearish after WASDE report

Key report raises corn production expectation, provides little fuel for market

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The United States Department of Agriculture has released its monthly World Agricultural Supply/Demand Estimates, which usually come with the potential to upset U.S. crop prices if they fail to fall in line with pre-report expectations. Just like the U.S. midterm elections on Nov. 8, there was no “red wave” sweeping the markets after the report’s
ICE January 2023 canola (candlesticks) with Bollinger bands (20,2) and ICE March 2023 canola (black line). (Barchart)
Crops, Markets

ICE weekly outlook: Premium showing in front-month canola

'Surge' of farmer selling expected in January

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MarketsFarm — The ICE Futures canola market held rangebound during the week ended Nov. 16, with the widening premium of the nearby January contract over the March futures seen as a sign of good nearby demand. ICE January canola settled Wednesday at $882.40 per tonne, a $10.50 per tonne premium over the March contract. That
(File photo by Dave Bedard)
Crops, Markets

Fund position switches to net long in canola

Net long in CBOT corn decreases on the week

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MarketsFarm — The overall speculative position in the ICE Futures canola market swung from net short to net long during the first week of November, marking the first time speculators were holding more longs than shorts in four months. That’s according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures
A tight stocks situation is being exacerbated by drought in key production regions.
Grain Markets, News

Volatility continues to drive markets

Markets a bit ‘bipolar’, senior market analyst says

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The volatile year for agriculture markets is unlikely to abate, says Mike Jubinville, senior market analyst with MarketsFarm Pro. “I look at these markets as bipolar in some cases,” says Jubinville. “On one hand, the macroeconomics have potentially bearish demand implications as fears of a recessionary environment take hold. But on the other hand, we
ICE January 2023 canola (candlesticks) with 20- and 50-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Trader sees canola topping $900 mark soon

Crush margins at 'very, very extreme levels'

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MarketsFarm — Despite surpassing the $900 per tonne mark at times during the week ended Wednesday, ICE Futures’ January canola contract never settled above that psychological level. Rising prices prior to the weekend later gave away to selling pressure after the weekend due to a correction in vegetable oil prices, according to broker Ken Ball
Fishermen are seen against a bulk carrier entering the port of Odesa under the grain initiative, in Odesa, southern Ukraine.
Grain Markets, Markets

Canola futures bouncing around, not breaking out

Latin American weather and Ukrainian uncertainty both add volatility

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The ICE Futures canola market bounced around within a sideways range during the last full trading week of October, with the futures hard-pressed to break one way or the other. The nearby November contract climbed sharply higher at one point, but volumes were thin in the front month as open interest dwindled and lack of

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