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Crops, Markets

USDA expects record world wheat crop in 2021-22

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MarketsFarm — The latest U.S. forecast puts world wheat production at a new record in 2021-22, with bigger crops in a number of countries more than offsetting expected decreases in Canada and Australia. According to the first outlook for the marketing year from the U.S. Department of Agriculture, total world wheat production for 2021-22 is
CBOT July 2021 soybeans (candlesticks) with 20- and 100-day moving averages (light and dark green lines) and CBOT May 2021 soyoil (yellow high/low/close and left column). (Barchart)
Crops, Markets

U.S. grains: Soybeans reach highest since 2012 on supply woes

Corn, wheat down on WASDE report

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Chicago | Reuters — U.S. soybean futures set an 8-1/2-year high on Wednesday after a key U.S. government crop report projected that supplies of the oilseed would remain tight even after the 2021 U.S. harvest. Soaring CBOT soybean oil futures lent support, with the thinly traded May soyoil contract reaching 72.32 cents/lb., an all-time high
CBOT July 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange, dark green lines). (Barchart)
Crops, Markets

U.S. grains: Corn, soy, wheat dip ahead of WASDE

Market eyes U.S. supply-demand reports for price direction

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Chicago | Reuters — Chicago corn futures fell on Monday, pausing after rallying to eight-year highs last week, with traders focusing on the U.S. Department of Agriculture’s upcoming world supply-demand (WASDE) report for new price direction. Wheat dipped, supported by beneficial rains across the U.S. Great Plains, while soybeans traded mixed on continued tight supplies.
The USDA building in Washington, D.C. (Art Wager/iStock/Getty Images)
Crops, Markets

CBOT weekly outlook: Look for May USDA report to be bullish

New WASDE will include first projections for 2021-22

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MarketsFarm — With the next supply and demand estimates from the U.S. Department of Agriculture (USDA) a week away, broker Ryan Ettner provided his outlook on the report. “[Soybean] exports have been good enough to meet the USDA’s expectations,” but maybe not enough to adjust any of their numbers, said Ettner, a broker for Allendale
Markets, News

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
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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

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