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USDA to expand forecasts on soyoil use in biofuels

Change in reporting structure will come in May crop report

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Reuters – The U.S. Department of Agriculture (USDA) will alter how it reports soybean oil use by biofuels producers beginning with its monthly World Agriculture Supply & Demand Estimates (WASDE) report in May, the USDA announced April 8. The USDA also said it will break out soybean meal supply and demand for China in its
(Qingwa/iStock/Getty Images)
Crops, Markets

CBOT weekly outlook: Focus to shift after USDA’s largely stand-pat WASDE report

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MarketsFarm — There was little change in U.S. markets shortly after the release of the latest supply and demand estimates from the U.S. Department of Agriculture (USDA). But that scenario could change for wheat markets, said Steve Georgy, president of Allendale Inc. at McHenry, Ill. “We’ve got to pay attention to how the wheat markets
CBOT May 2021 corn with Bollinger (20,2) bands. (Barchart)
Crops, Markets

U.S. grains: Corn climbs on exports, ethanol

Dry weather expected to slow U.S. spring wheat seeding; soy steady ahead of WASDE

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Chicago | Reuters — U.S. corn futures climbed on Thursday on export optimism and positioning ahead of the U.S. Agriculture Department’s monthly supply and demand report, out on Friday, traders said. Wheat gained as frigid temperatures across Europe and the Black Sea region threatened crops. Soybeans were also firmer. The most-active corn contract on the
CBOT May 2021 soybeans with Bollinger (20,2) bands. (Barchart)
Crops, Markets, Weather

U.S. grains: Soybean futures advance on supply concerns

Traders watch U.S. planting progress, crop weather

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Chicago | Reuters — Chicago Board of Trade soybean futures jumped on Monday on concerns about U.S. supplies dwindling due to strong export demand and smaller-than-expected plantings. The U.S. Department of Agriculture shocked traders last week by reporting that U.S. farmers plan to sow 87.6 million acres with soybeans this spring and 91.1 million acres
ICE May 2021 canola (candlesticks) with 30-day moving average (green line) and CBOT May 2021 soyoil (yellow line). (Barchart)
Crops, Markets

ICE weekly outlook: Canola’s correction likely short-lived given tight supplies

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MarketsFarm — The ICE Futures canola market ran into a profit-taking correction on Wednesday, backing away from recently-hit contract highs. While a further correction is possible, the underlying fundamentals remain supportive and canola is expected to retain its relative strength to other oilseeds. “The market needs bullish fuel, but it’s just not getting any,” said
CBOT March 2021 corn with Bollinger (20,2) bands. (Barchart)
Crops, Markets

U.S. grains: Corn tumbles as USDA projects supplies above market expectations

USDA slashes global wheat supply as feeding to increase

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Chicago | Reuters — U.S. corn futures dropped on Tuesday after the U.S. Department of Agriculture (USDA) projected supplies of the grain above market expectations in a monthly report, taking prices down from 7-1/2 year highs posted earlier in the day. Soybean futures rose to a three-week top on a tighter supply outlook by USDA,
CBOT March 2021 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Corn ends flat after vaulting to 7-1/2 year high

Corn sales to China spurred climb

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Chicago | Reuters — U.S. corn futures settled nearly flat on Thursday after a volatile session in which the benchmark contract hit its highest level in 7-1/2 years, buoyed by U.S. corn sales to China, only to retreat on profit-taking, traders said. Soybean and wheat futures closed lower in technical trade, despite concerns about tightening
Speculation that USDA could further drop ending stocks in February’s WASDE fuelled another round of increases in commodity futures.
Grain Markets, Markets

U.S. WASDE points to lower ending stocks, lifts futures

The March contract set a new high based on USDA’s report

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Within days before the U.S. Department of Agriculture (USDA) issued its latest supply-and-demand report, there was speculation of further reductions to ending stocks for soybeans, corn and wheat. Such bullish news would see U.S. prices rise and spill over into canola. On Jan. 12 USDA released its world agriculture supply-and-demand estimates (WASDE), which slashed soybean ending stocks
ICE March 2021 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: WASDE spillover boosts canola

Canola may soon become price-sensitive, analyst says

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MarketsFarm — Sharp increases in soybean, corn and wheat futures on Tuesday, following the release of the latest supply and demand report from the U.S. Department of Agriculture (USDA), in turn spilled over into canola. The most significant factors in USDA’s world agricultural supply and demand estimates (WASDE) were further reductions to ending stocks for

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