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
Reuters – U.S. soybean exports had a dismal April performance and possibly an even worse showing in May as shipments to China remain historically low, but corn exports hit a one-year high in April and improved on those volumes last month. Soybean sales were relatively strong in May and that could continue since the U.S.
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
U.S. Agriculture Secretary Sonny Perdue said January 29 he does not know whether China’s coronavirus outbreak will upset Beijing’s pledge to radically increase purchases of American farm goods as part of the countries’ recent trade deal. The virus has cast further doubt on China’s ability to buy US$36.5 billion of U.S. agricultural goods in 2020.
Reuters – Tyson Foods has received approval from U.S. and Chinese authorities to export American poultry to China from all 36 of its U.S. processing plants and expects to begin taking orders early next year, a chief supply chain officer for the company said. U.S. chicken companies are eager to resume sales in China after
An early winter storm on the western Prairies and persistent cool and wet conditions to the east put the brakes on harvest operations during the first few days of October, with canola futures finding some support on the back of adverse weather. After holding within a sideways trading range for the past three months, the
Thomson Reuters Foundation – With a swipe of his harvesting knife, Sam Thorpe frees a handful of spinach from its roots in the soil. “In the winter it’s so sweet it’s like candy,” he says, examining the small yield in his palm. For the past four years, Thorpe and his family have built a reputation
A surprisingly large corn production estimate from the U.S. Department of Agriculture gave North American grain and oilseed markets a jolt during the week ended Aug. 15. Corn and wheat prices fell in response to the updated data, while oilseeds had a more subdued response. After a soggy start to the U.S. growing season, investors
Reuters – Argentine wheat farmers are preparing for a record harvest, even as global rivals see crop yield prospects cut amid floods in the United States, searing heat in Europe and drought in Australia and parts of Canada. The grain bounty in the world’s No. 6 wheat exporter will boost the South American country in
Winnipeg | Reuters – Fertilizer producer and farm supply dealer Nutrien Ltd expects U.S. farmers to plant as many as 95 million acres (38.5 million hectares) of corn next year, the most in seven years, after a frustrating year of floods, its chief executive said. The wet conditions left millions of acres unplanted across the