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CBOT weekly outlook: Markets react to USDA supply/demand estimates

Wheat data 'surprisingly supportive'

MarketsFarm — The U.S. Department of Agriculture (USDA) on Thursday released its monthly world agriculture supply/demand estimates (WASDE) — the first to show estimates for the 2022-23 marketing year — and markets reacted quickly. Ryan Ettner, a broker for Allendale Inc. at McHenry, Ill., said that while figures for corn and soybeans were in line




CBOT July 2022 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)

U.S. grains: CBOT wheat, soybeans firm on tighter stocks

Corn firm, ending stocks unchanged

Chicago | Reuters — Chicago wheat, corn and soybean futures firmed on Friday after the U.S. Department of Agriculture (USDA) assessed global supply and demand, reflecting the impact that Russia’s invasion of Ukraine has had on Black Sea exports. Grain prices remained underpinned by Russia’s six-week-old invasion, which has stalled large amounts of Ukrainian exports


CBOT May 2022 soybeans (candlesticks) with Bollinger bands (20,2). (Barchart)

U.S. grains: Soybeans, corn firm ahead of WASDE

Wheat down, but supported by winter crop stress

Chicago | Reuters — Chicago Board of Trade soybean futures climbed on Thursday, bolstered by eroding South American production and steady U.S. export sales. CBOT wheat and corn futures eased ahead of the U.S. Department of Agriculture’s monthly global supply and demand report due Friday, expected to reflect the potential impact of the war in



CBOT March 2022 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)

U.S. grains: Wheat bounces from lowest in a month

Corn weak, soybeans firm

Chicago | Reuters — U.S. wheat futures rebounded from a one-month low on Friday, gaining 1.1 per cent on a round of bargain-buying and renewed interest on the export market, traders said. Soybeans also were firm but corn was weaker on a technical setback. News that Chinese buyers had booked a large amount of feed



CBOT March 2022 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and green lines). (Barchart)

U.S. grains: Wheat futures drop on weather view

CBOT corn, soybean futures rise

Chicago | Reuters — Chicago Board of Trade winter wheat futures fell 1.7 per cent on Wednesday as forecasts for mild temperatures and some rain in key growing areas raised hopes that the crop will be in good condition before it heads into dormancy, traders said. “U.S. weather for wheat looks pretty good,” said Terry