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Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)
Crops, Markets

CBOT weekly outlook: Corn values stabilize

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MarketsFarm — The April world agriculture supply and demand estimates (WASDE) from the U.S. Department of Agriculture didn’t hold much sway over corn on the Chicago Board of Trade (CBOT) on Thursday. Corn ending stocks for the U.S. were pegged at 53.15 million tonnes, about five million tonnes higher than the previous month’s report. However,
CBOT May 2020 wheat with Bollinger (20,2) bands. (Barchart)
Crops, Markets

U.S. grains: Wheat firms after four-day slide

Corn hits 3-1/2-year low

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Chicago | Reuters — U.S. wheat futures rose on Friday, bouncing after a four-day slide, as traders weighed the threat of a deep economic downturn due to the coronavirus epidemic against supply tensions in some exporting countries. Corn extended a six-day drop, with May futures hitting the lowest for a most-active contract since September 2016,
(Photo courtesy Canada Beef Inc.)
Crops, Markets

Feed weekly outlook: Barley, wheat remain firm

Feed corn values follow U.S. ethanol lower

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MarketsFarm — Prices for feed barley and wheat have firmed up across the Prairies amid the COVID-19 pandemic, said trader Allen Pirness of Market Place Commodities in Lethbridge. However, he also noted corn prices have fallen due to the steep decline in the U.S. ethanol industry. The Saudi Arabia/Russia crude oil price war put enormous
CBOT May 2020 wheat with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Wheat tumbles on weak export sales, recession fears

Corn, soybeans rise on crude oil rally, but end mixed

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Chicago | Reuters — U.S. wheat futures fell for a fourth straight session on Thursday, extending prior-day losses that were the worst in 7-1/2 months as weak U.S. export sales data stoked concerns about the coronavirus pandemic destroying demand. Soybeans and corn ended mixed as early short-covering and spillover support from sharply higher crude oil
Crude oil tanks at Kinder Morgan’s Sherwood Park, Alta. terminal on Nov. 14, 2016. Soyoil, a bellwether for canola, is closely connected to world crude oil prices.
Grain Markets, Markets

Canola futures remain steady amid pandemic

Their alignment with soyoil ties canola values to crude oil’s fortunes

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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
The Chicago Board of Trade building on May 28, 2018. (Harmantasdc/iStock Editorial/Getty Images)
Crops, Markets

CBOT weekly outlook: Bargain buying lifts some commodities

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MarketsFarm — Despite an ever-changing economic environment due to the global COVID-19 pandemic, ag commodity prices may be sheltered from the worst bearish sentiments. “Global import businesses have taken off this week due to lower commodity prices,” said Terry Reilly of Futures International in Chicago. “If we do see an economic slowdown, we’ll probably see
ICE Futures May 2020 canola with 20-day moving average and CBOT May 2020 soyoil (red line). (Barchart)
Crops, Markets

ICE weekly outlook: Volatility hampers canola

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MarketsFarm — Canola values have been at the mercy of volatile financial markets this week, trading in lockstep with headlines of plummeting crude oil values and stock indices. “We’re getting into a bit of a pattern in the markets,” Ken Ball of P.I. Financial in Winnipeg said, explaining that prices will show some strength, then

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