Soybeans Fall on Record Large US Crop Potential: Soy futures closed sharply lower with September falling $.70 ahead of 1st notice day on Wednesday. Record large US soybean crop potential was seen as the bearish catalyst along with needed rainfall across IA, MN, MO, IL, MI and IN. US soybean export inspections were disappointing, falling…
CBOT Corn Adds Supply Premium; World Market Less Willing to Follow: CBOT corn futures was sharply higher as the production loss debate is ongoing. ARC maintains that final US yield will exist between 172-174 BPA, but until objective yield data becomes available, total crop loss of 150-450 Mil Bu is in play. A sub-170 yield…
Wheat Surges on End-of-Quarter Positioning; US Priced Out of World Market: US wheat futures ended sharply higher as funds pare recently established net short positions in US futures and as the pace of Russian exports is sluggish. Paris milling contracts also ended higher, but the advance in world cash markets has not kept pace with…
Stats Canada released its first official Canadian crop estimates, which in August is heavily weighted towards satellite imagery. Image-based estimates must be taken with caution, but not until harvest is completed will Stats Can publish more accurate numbers in late November. 2022 Canadian wheat production is now pegged at 34.6 MMTs, vs. USDA’s 35.0. Canola…
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