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USDA sees ballooning soy supplies as trade war roils exports

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tagged China soybeans trade war USDA
Chicago | Reuters – The U.S. soybean crop will be smaller than expected but stocks are forecast to rise sharply as a trade fight with China weighs heavily on exports, the U.S. Agriculture Department said on Thursday. The government also trimmed its outlook for domestic corn production in its monthly supply and demand report, with yields from the ongoing harvest coming in below expectations. Chicago Board of Trade soybean futures fell sharply after the report was released,…
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U.S. livestock: Cattle futures gain on technical buying; hogs lower

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tagged cash cattle cattle futures closing markets CME hog futures
Chicago | Reuters – U.S. cattle futures were narrowly higher on Thursday, buoyed by spreading and technical buying despite a downturn in wholesale beef prices, traders and analysts said. Live cattle futures climbed for the third straight session on the Chicago Mercantile Exchange as the market continued to claw back from steep losses on Monday. CME December finished 0.450 cent higher at 116.550 cents per pound and February up 0.275 to 119.875 cents. Feeder cattle futures…
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CBOT soybeans recover after dismal USDA data

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tagged cbot Commodity News Service Canada corn futures soybean futures USDA
CNS Canada – The latest United States Department of Agriculture (USDA) reports surprised traders leading to an immediate sell-off for Chicago Board of Trade (CBOT) soybean contracts. “It's a pretty interesting report to tell you the truth, but really the focus has been on the beans,” said Jack Scoville of Price Futures Group in Chicago, Ill. It had been expected that U.S. soybean yields and production would be lowered, while ending stocks would be increased. However, the…
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U.S. grains: Corn ends higher as USDA tightens domestic stocks forecast

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tagged cbot closing markets corn futures soybean futures U.S. dollar wheat futures
Chicago | Reuters – U.S. corn futures closed modestly higher on Thursday after the U.S. Department of Agriculture (USDA) lowered its estimates of corn yield, production and ending stocks more than most analysts expected, traders said. Soybean futures fell after the USDA slashed its U.S. soy export forecast, but pared losses toward the close. Wheat futures declined. Chicago Board of Trade December corn settled up 1-1/4 cents at $3.73-1/2 per bushel after dipping to $3.66, its…
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Pre-booked corn pushing barley and wheat out of Alberta feedlots

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tagged barley Commodity News Service Canada corn feed grains feedlots wheat
CNS Canada – Cattle in “feedlot alley” in Lethbridge, Alta., won’t be seeing corn leave their diets any time soon, according to one feed grain buyer. “The marketplace booked up a fair bit of corn in advance of it, so through September, December and even out into March. So that's all been done, that corn will continue to come in,” said Dave Guichon, owner of AgValue Group in Calgary, Alta. Corn from the United States and Manitoba started making its way into feedlots…
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Fair weather welcome for harvest wrap-up in Sask.

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tagged Commodity News Service Canada harvest Saskatchewan crop report weather
CNS Canada – Thanks to good weather during the last half of October 99 per cent of Saskatchewan’s crop has been harvested according to Saskatchewan Agriculture’s final Crop Report of 2018. However, snow and rain in early November has delayed the harvest of the remaining crops such as flax and oats, but producers hope to be back combining once the weather improves. On many farms aeration bins and grain dryers have been in continuous operation for more than a month. Despite…
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ICE weekly outlook: Canola market establishing a base

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tagged canola canola futures canola market Commodity News Service Canada deliveries farmer selling ICE Futures
CNS Canada – Canola contracts on the ICE platform are trading near their lowest levels in more than a year, but could be running out of room to the downside. With the North American harvest pressure easing and the South American soybean harvest still a number of months away, canola has window of opportunity where it could see a modest bounce, according to analyst Mike Jubinville, of ProFarmer Canada. He said “bargain basement prices” were rumoured to be bringing in more…
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U.S. grains: Soybeans, corn lower ahead of USDA monthly data

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tagged cbot closing markets corn futures soybean futures U.S. dollar wheat futures
Chicago | Reuters – U.S. soybean futures fell Wednesday as traders adjusted positions the day before a monthly report from the U.S. Department of Agriculture in which the government is expected to raise its forecast of U.S. soy stocks. Corn and wheat futures also ended lower. Chicago Board of Trade January soybeans settled down 4-3/4 cents at $8.79-1/2 per bushel after dipping to $8.76-3/4, the contract's lowest since Nov. 1. CBOT December corn ended down 1 cent at $3.72-1/4…
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U.S. livestock: Hog futures rebound from 2-week low on short-covering

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tagged cash cattle cattle futures closing markets CME hog futures
Chicago | Reuters – Chicago Mercantile Exchange lean hog futures were mostly higher on Wednesday, rebounding from an early two-week low on support from calendar spreading and short-covering, traders and analysts said. But excessive hog supplies and increased pork production made the market vulnerable to further declines, with weaker prices for wholesale pork signaling a downturn in demand. Wednesday was the first day for the five-session calendar roll for investment funds…
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