Canola futures have had a $50-per-ton rally so far in June. The positive school says it’s from the dryness on the western prairies. There is no chart signal the move is over and unseeded soybean acreage is supportive.
Wheat traded with solid gains last week, as three out of four sessions posted strong gains while only one session showed losses. Stress from excessive rain continues to provide support for the corn market. For soybeans concerns about slow soybean planting continued to provide support.RELATED CONTENT
Flax took a bit of a tumble in the past two weeks on little fundamental news. The best explanation could be this excerpt from the March 17 issue of Wild Oats: “Flax markets have been supported by the Kazakh flax crop, which wound up covered with snow last fall.” That meant European users had to source elsewhere, and that generally means Canada.
Wheat started the week sharply lower, while weather concerns affected the corn market and soybeans traded higher.RELATED CONTENT
The canary market is finally showing a bit of strength. Prices had been falling since 2011 and had been as low as 24 cents per pound freight on board. There’s more at 25 cents, but it would probably take 26 or 27 cents to source any volume.
The U.S. Department of Agriculture released its June World Agricultural Supply and Demand Estimates report, which projects higher wheat supplies, but lower corn production over last year's record.
Wheat started last week with solid gains, but slipped lower after the release of the U.S. Department of Agriculture’s June Crop Production report. Corn struggled last week, with a lot of negative news thrown at the market. The USDA report showed larger-than-expected world stocks, with larger production estimates in South America. As of the June 11 close, July soybeans were 2.25 cents higher for the week while November soybeans were down 5.5 cents. At 10 a.m. June 12, July soybeans were down 1.25 cents and the November contract was down 5.25 cents.RELATED CONTENT
Senate Agriculture Committee Chairman Pat Roberts, R-Kan., and Sen. Heidi Heitkamp, D-N.D., on Thursday introduced bipartisan legislation to make sure a Commodity Futures Trading Commission regulation allows for sufficient time to send payments to their Futures Commission Merchant (FCM) and to repeal a requirement that impedes international data sharing.RELATED CONTENT
Wheat traded with strong gains last week, with much of the strength coming from winter wheat production concerns. Traders are concerned that disease will soon start to reduce the quality and quantity of the crop. The corn market bounced off the eight-month lows from the week ending May 29 and closed with green numbers last week. Support came from strength in the wheat complex, with quality concerns and a lower performing dollar.As of the June 3 close, July soybeans were 12.5 cents higher for the week, while November soybeans were up 18.25 cents. At 10 a.m. June 5, July soybeans were down 3 cents and the November contract was down 4 cents.RELATED CONTENT
CME Group Inc. said on Friday it barred a grain trader from its markets for three years for executing noncompetitive transactions and suspended another for two years for market manipulation.
WASHINGTON - A win for the United States in a dispute with India over restrictions on U.S. poultry and egg imports will help lower trade barriers and open new markets for U.S. farmers, U.S. officials said on Thursday.
Wheat took a hit last week, trading with losses in the first half of the short week and only managing to end mixed on May 28. For the week ending May 28, July Minneapolis dropped 21.75 cents, September Minneapolis gave back 22.25 cents, July Chicago lost 26.5 cents and July Kansas City lost 36.25 cents.RELATED CONTENT
WINNIPEG, Manitoba — Rains continue to plague the U.S. hard red winter wheat crop, and analysts are lowering their production estimates. Given the continuous rains, it is very hard to get on the fields to spray in a timely fashion.
With a population of 1.3 billion and a small agricultural area relative to its population, China is the hope for an export-led prosperity for grain and oilseed farmers in the major agricultural exporting nations.
The early consensus on the weekend frost is that minimal damage was done to newly planted oats.