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
Category: Grain Markets
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
Grain markets lost a fair amount in the second week of July and heightened geopolitical risk (read: trade war) and some decent-looking crops have negatively impacted grain prices. The latter factor was surmised by this week’s July 2018 WASDE report, which provided a reset of the goalposts when it comes to global agricultural supplies and… Read More
Despite what Chinese government officials say, most market analysts and traders believe China will need to buy soybeans from the U.S. this year, even if it means paying a 25 per cent tariff. “The question is not whether China is eventually going to have to buy U.S. soybeans. I think we all agree they have… Read More
In a perfect world, you’d price grain several times a year, locking in a percentage of production at a profit, as determined by a complete cost of production figure. But farming isn’t perfect, and only the truly disciplined (and lovers of all things marketing) have annual pricing plans and stick with them. In reality, bills… Read More