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CBOT weekly outlook: Some surprises in USDA’s WASDE

MarketsFarm — The U.S. Department of Agriculture has thrown a few curveballs in an otherwise mundane supply-and-demand report issued Thursday, according to broker Ryan Ettner of Allendale Inc. at McHenry, Ill. Although USDA, in its December world agricultural supply and demand estimates (WASDE), lowered soybean ending stocks for the 2020-21 marketing year, the cut wasn’t

In this photo from Mike Cowbrough’s October 2019 Pest Patrol column in Country Guide, light-green waterhemp plants approach the top of a soybean canopy after two ineffective applications of glyphosate. (Supplied photo)

Group 27 herbicide resistance arrives in Canada

Mesotrione-resistant waterhemp confirmed in Quebec

A persistent and fiercely competitive weed that has developed resistance to several herbicide groups since its arrival in Canada is now the first in the country to fight off a Group 27 product. Quebec’s Reseau d’avertissement phytosanitaire (RAP) last Friday reported a patch of waterhemp with resistance to mesotrione herbicide in the Haut-Richelieu municipality, in


CBOT March 2021 wheat with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Futures rebound on short covering, pre-report positioning

Wheat bounces from two-month low

Chicago | Reuters — U.S. soybean and grain futures firmed on Wednesday in a short-covering rebound from prior session losses and as investors took positions ahead of a monthly U.S. Department of Agriculture (USDA) supply and demand report on Thursday. Wheat, which hit a two-month low this week, posted the strongest advance, while improving crop

CBOT January 2021 soybeans with Bollinger (20,2) bands. (Barchart)

U.S. grains: Soybeans sink on South American rains, slowing demand

Wheat pressured by bumper crops in Australia, Canada

Chicago | Reuters — U.S. soybean futures fell for a third straight session on Tuesday on slowing export demand and as forecasts for more rain in South American crop areas tempered concerns about tightening supplies. Corn and wheat followed soybeans lower, pressured by improved South American crop prospects and a firmer U.S. dollar. Grain prices



CBOT March 2021 wheat with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Wheat posts weekly dip as supply worries ease

Corn, soy futures also lower

Chicago | Reuters — U.S. wheat futures fell more than one per cent on Friday and recorded a weekly loss as expectations for bumper wheat harvests in Australia and Canada tempered fears of tightening global supplies. Corn and soybean futures declined on forecasts for beneficial rains in northern and central Brazil, although worries about dry


CBOT January 2021 soybeans (candlesticks) with 20-day moving average (green line) and CBOT January 2021 soyoil (black line). (Barchart)

U.S. grains: Soybeans up one per cent as soyoil climbs

Corn up; wheat declines on global supply outlooks

Chicago | Reuters — U.S. soybean futures rose about one per cent on Thursday, rallying on bargain buying after a two-week low set a day earlier and on uncertainty about South American crop prospects, traders said. Soybeans also drew support from strength in soybean oil futures, which advanced about two per cent on news of



CBOT March 2021 wheat (candlesticks) with MGEX (green line) and K.C. (orange line) March 2021 wheat. (Barchart)

U.S. grains: Wheat futures hit two-month low

Soybean, corn futures also decline

Chicago | Reuters — Chicago wheat futures hit a two-month low on Tuesday, pressured by improving U.S. winter wheat crop ratings, strong export competition and rising estimates of Australia’s harvest, analysts said. Corn and soybean futures also sagged, retreating from early strength as traders focused on forecasts for welcome rains in South American crop regions.