Major grains & oilseeds markets – The markets continued to move lower as funds continued to liquidate their long positions, while reports of good South American crops, a bearish IGC report, and Chinese cancellations of US soybean purchases also served … Read More
Last week was a shortened trading week once again and the markets, although slightly weaker, were not well defined and only lightly traded. This week is the first full trading week of 2015 and with most traders now back to work, we should have some better definition of market values.
During the Holidays, we did have some events that were worthy of note: Iraq purchased 100,000 tonnes of Canadian wheat at close to $300 USFMT FOB. The Algerian tender was again deferred and is now likely to occur sometime next week.
Major grains & oilseeds markets Statistics Canada published their crop estimates, which showed increased canola and wheat production. However, few have any confidence in the accuracy of this report as the canola futures market reaction testified Thursday and Friday. It … Read More
Major grains & oilseeds markets Last week was quiet as the US Thanksgiving holiday caused a shortened-trading week in the futures markets. The market was effectively closed from midday on Wednesday until Friday and many traders took the opportunity to … Read More
Major grains & oilseeds markets The markets continued their firmer trend following the WASDE report, particularly corn, which is pushing its resistance levels. In our view, it is the front-end demand-pull, which is the supportive item to the corn/soybean market: … Read More
Major grains & oilseeds markets – The cash markets were very slow last week while buyers waited to see what the USDA WASDE report has to offer this Monday. However, funds and speculators were very active in the futures during … Read More
Major grains & oilseeds markets – Markets found some support last week on reports of adverse Brazilian weather, good export numbers out of the US, delayed harvesting in the US, primarily due short-covering from large speculators, and concerns about indications … Read More