On Wednesday, September 12th the USDA came out with one of the most bearish World Agricultural Supply and Demand Estimates (WASDE) reports in recent memory, destroying any pre-report expectations — especially for corn and soybeans. Going into the September WASDE report, the market was already quite bearish on soybeans, expecting to see 2018/19 ending stocks in… Read More
Category: Grain Markets
Grain prices had a mostly red week but corn, soybeans, and canola were all about to recover their losses on Friday to end the week near equal — if not slightly above where they ended the previous Friday. Chicago SRW wheat contracts lost about 32 cents USD/bushel to close down 5.5 per cent – six… Read More
Grain markets rallied on Friday to finish the last week of August mostly in the green but it wasn’t enough to make up for the sell-off that started mid-month. In terms of infleuncers, Statistics Canada provided its first in-depth forecast of the Canadian crop, but also that a new NAFTA agreement was nailed down in… Read More
The impact of dry conditions across the southern prairies is evident in Statistics Canada’s first report on 2018 crop production. Canola and spring wheat futures were higher following the report’s release on Friday morning. Most of the production and yield figures came in on the lower end of the range of pre-report estimates. The report was… Read More
Grain markets all pulled back this week on some bigger yield reports in the U.S. corn and soybean belt, while wheat markets took a breather from their bullish run. The U.S. corn crop is certainly advanced, with 44 per cent of fields dented as of last Monday. For perspective, going into the Week 34 USDA crop progress… Read More
The U.S. government will announce details of its planned US$12 billion trade aid package for the agriculture sector on Monday, according to Agriculture Secretary Sonny Perdue. The package, which was first announced in July, will include direct payments to producers to offset the impact of tariffs on U.S. exports. Sources told Agri-Pulse that the preliminary proposal… Read More
Spring wheat yield and protein reports are starting to come in as combines are rolling across the prairies. All spring and summer the reports from the field have been about variability. This continues into harvest, says Dwight Nichol of DLN AgVentures at Gravelbourg, Sask: “It’s variable. It’s the same here as it is across the… Read More
Grain markets crossed the mid-point of August on the good news that the United States government has set meetings with China to discuss concessions and ways to mitigate the ongoing trade problems that have hammered grain prices. We have to be rational with our expectations, but there is some optimism that geopolitical banter will be for the better…. Read More
Soybean futures took a 42-cent tumble on Friday after the USDA surprised the market with a 51.6 bushel/acre yield estimate for the U.S. crop — approximately two bushels higher than the average trade guess. The projected yield increase translated into a record 785 million bushel carryout projection (up from the department’s 580 million bushel estimate in… Read More
This week, winter wheat prices touched a three-year high, but it didn’t last. Chicago SRW wheat prices for September 2018 gained 5 per cent or about 26 cents US/bushel to close at $5.56. While the December 2018 contract was up 5.4 percent — or nearly 30 cents — to finish a tad under $5.80. In… Read More
Thursday was a wild day in the wheat trade based on a confusing report out which seemed to indicate Ukraine was going to restrict exports of milling wheat. Bloomberg ran the story and the market — already in rally mode due to weather concerns in Europe — burst more than 25 cents higher based on… Read More
Crude oil shipments by rail in Canada are at record highs and forecast to continue climbing, as oil production has increased with no major expansion in export pipeline capacity. At the same time, executives for Canada’s two major railways say they intend to maintain rail capacity for grain. 198,788 barrels of oil per day were… Read More
Grain markets this week finished higher for the second straight week as the complex seemed to wake up from the nightmare it’s been in the last few months. Corn prices had a fairly good week in Chicago. Front-month and next-month contracts added a few percentage gains as markets kept a close eye on European weather… Read More
If you have heard us say it once, you will hear us say it again: the crop conditions in Western Canada are quite variable. Surprisingly, though, at Ag In Motion last week farmers repeatedly told us that crop conditions were better than you might expect. This week, Farmlink Marketing Solutions staff and third-party field scouts… Read More
Grain prices this week had a positive week for the first time in nearly 2 months. Almost feels like Christmas! Usually weather premiums are added to the market in late May through to June. However, this year, that seasonal pattern was idled thanks to an excellent start to the 2018 growing season in North America… Read More