Australia is poised for a second consecutive bumper wheat harvest as farmers plant grain in near-perfect growing conditions, easing some of the global supply concerns, which lifted world prices to multi-year highs last month. Widespread rains in key growing states ahead of planting in April and May boosted the soil moisture needed for seeds to
Shock and awe rocked the markets on March 31 after the United States Department of Agriculture (USDA) issued its prospective plantings report. The first survey-based projections for 2021 caught the markets largely off guard that Wednesday, which sent prices to their daily limit in several commodities. That not only included the soy complex and corn
MarketsFarm – The column in this space a year ago led with the line ‘the more things change, the more they stay the same.’ That line was a jumping off point for a decade-in-review piece pointing out some of the through lines of the grain markets during the previous ten years. Well, the pandemic hit
ICE Futures canola contracts ran into resistance during the week ended June 11, repeatedly trying and failing to continue the short-covering rally that had boosted prices off of nearby lows to start the month. Intermonth spreading was a feature, accounting for heavy volumes on occasion, as traders rolled out of the nearby July contract into
Despite turmoil around the world due to the COVID-19 pandemic, canola prices didn’t change much from week to week. ICE Futures’ May canola contract closed March 20 at $461.70 per tonne; by March 26, May canola was at $462.80 per tonne. Fuelling that steadiness has been soyoil on the Chicago Board of Trade (CBOT). Closely
There’s no doubt that the COVID-19 coronavirus is having a tremendous effect on commodity markets. Although Canada and the United States have a mere fraction of the reported cases and deaths, fears toward COVID-19 have generated sharp losses in North American markets. There was something of a reprieve this week as the U.S. Federal Reserve
China is pretty much in control of the global soybean market, and could stay in that position for the rest of 2020. Following the signing of the Phase 1 trade pact between the United States and China, it was widely expected soybean prices on the Chicago Board of Trade (CBOT) would shoot up — especially since the deal requires China to dramatically increase its agricultural purchases from the U.S.
MarketsFarm — To Terry Reilly, about the only things driving the Chicago Board of Trade (CBOT) are headlines and geopolitics developments. “Traders are trading headlines,” Reilly, an analyst for Futures International in Chicago, said in reference to the latest developments in U.S.-China trade talks. Reports on Wednesday morning said the two countries were close to
The ICE Futures canola market flatlined during the second week of November, trading within a rather narrow sideways range and showing little incentive to break one way or the other. The steady tone came despite a sizable drop in Chicago Board of Trade (CBOT) soyoil prices, as world vegoil markets backed off nearby highs. Soyoil
Winnipeg | MarketsFarm – So far this summer, canola prices have continued to remain range-bound, said David Derwin of PI Financial in Winnipeg, Man. “On a week to week basis, we’re kind of at the low end of the range,” Derwin commented, noting C$450 per tonne has been near the low end of that range.