Category: Grain Markets

Weather in the driver’s seat — This week in the grain markets

Grain markets ended Friday in the green. However, for the week, prices were mostly in the red as some benign weather kept the bears in charge. Most eyes are on South America but planting is back up to the normal average now. Corn ended practically where it started, dropping only 0.07%. Oats lost nearly 6%… Read more »

India committed to pea import duty, says broker

India’s decision to add a 50 percent import duty on peas is designed to help the country become self-sufficient in pulses, and the government appears to be steadfast in its commitment, says one of India’s largest international pulse brokers. Anurag Tulshan, managing director of Esarco Exim Pvt Ltd, told delegates attending the Grain World conference… Read more »

Are we turning the corner on ag commodity prices?

Farmers are always hoping for higher prices in any market, but our wishes do not always come true. However, there are signs we’re turning a corner, with global demand outstripping supply. Many farmers and analysts have stared at their computer screen this fall to see Dec corn laser-locked around $3.50, along with other commodities like… Read more »

Returning to the average — This week in the grain markets

On Thursday the United States Department of Agriculture (USDA) came out with their monthly world agricultural supply and demand estimates (WASDE). Usually, November is a bit of a sleeper month, but given the delayed corn harvest in the U.S., there were some ideas that the USDA might provide the market something in line with the… Read more »

Competing bulls and bears — This week in the grain markets

Grain prices were generally trending higher this week before seeing a sell-off on Friday to erase a fair amount of gains. Simply put, bears became more competitive than bulls. Wheat and corn prices seem eternally rangebound as in the past few weeks they haven’t moved more than a quarter. Corn and soybeans were virtually unchanged… Read more »

Grains squeaking out gains — This week in the grain markets

Grain markets had a mostly down week as a stronger U.S. dollar (up 1.2% for the week) weighed on futures markets. However, with the Canadian dollar dropping 1.45% to below 78 cents USD, this meant cash grain prices in Canada improved a bit, especially in canola, flax, and wheat. While canola futures prices on the… Read more »

Milling wheat, durum and barley futures de-listed

Plans for a vibrant Western Canadian futures market for milling wheat, durum and barley similar to canola officially came to an end on Wednesday, as the board of directors for ICE Futures Canada approved the de-listing of the exchange’s three cereal crop contracts. In a notice to market participants, the Winnipeg-based exchange said its futures… Read more »

Batter up — This week in the grain markets

Grain markets this week generally trended lower as rains in the Southern Hemisphere and harvest progress in North America hung over prices. Bulls continue to take a bat at headlines but rallies continue to face resistance from the size of global grain supplies. Oats and canola were the only winners for the week, with the… Read more »

Good luck for grains — This week in the grain market

Usually Friday the 13th is an unlucky day. For grain prices though, Friday, October the 13th was a good omen. On Friday alone, Chicago soft red winter wheat gained 2.15%, oats gained 1.9%, and corn was up 1.05%. Oats was the big winner of the week, though, up 6.25%. This was followed by soybeans which… Read more »

Soybeans rally as USDA cuts production by all of 422 bushels

The USDA released its monthly World Agricultural Supply & Demand Estimates (WASDE) report today. Here’s a summary from Matthew Pot, author of Grain Perspectives: Corn: Corn futures increased by 3 cents today after the USDA threw a curve-ball by increasing corn yields well above the market expectations. The average trade estimates were between 169.7 and 169.9… Read more »

West Coast port capacity is surging, but can it be put to use?

From Prince Rupert down to Vancouver’s Fraser River ports, grain companies are investing hundreds of millions of dollars in infrastructure for loading grain onto ships destined for overseas markets. Just a few weeks ago, Raymont Logistics opened the only unit train stuffing facility on Canada’s west coast at Prince Rupert. In Vancouver, on the north shore of Burrard… Read more »

What change? — This Week in the Grain Markets

Grain markets this week traded sideways again, with weather and some decent trade data outweighing harvest pressures. Corn prices lost 1.55% since last Friday whereas soybeans gained 0.5%. Winter wheat markets were lower as Chicago soft red winter wheat lost 1.05% and Kansas City hard red winter wheat lost 1.3%. The Canadian Dollar lost 0.5%… Read more »

What happened to grain markets this quarter?

This week’s grain markets were largely influenced by that was happening in currency markets and government reports. The Canadian Dollar lost about 1.1% this week but has basically ended where it began September, up just 0.15%. On Wednesday, the Loonie saw it’s largest single day loss in eight months after the Bank of Canada’s governor… Read more »

Trying to find some confidence — This week in the grain market

The agricultural industry this week was impacted by some geopolitical tension. North Korea and U.S. President Trump continue to trade warring words, while in Canada, a battle has started between small businesses and farmers and the Liberal federal government over proposed tax reform. For grain markets, losses were made up for from last week’s bullish… Read more »

Uncertainty in Canadian pulse industry, as latest fumigation exemption nears end

The latest three-month exemption to India’s rules requiring fumigation of pulse crops is nearing its expiration date, and Canadians are no nearer to an understanding of what, exactly, that might mean. “As of today, we don’t know what India’s policy is going to be for bills of lading that are dated October 1 or later,… Read more »