New crop canola took a decidedly negative turn in the third week of June along with old crop as world vegetable oil markets retreated.
The June 30 actual planted acreage report from USDA is highly anticipated and very important to the soybean market.
With durum planting finally nearing completion in North America, the market is now turning its attention to the weather here and around the world. Neither factor has moved durum prices much; however, as they continue to bring around $13 a bushel or slightly more to producers, which is still …
It’s hard to imagine, but sunflower prices have again set new record highs at the crush plants in North Dakota with values at over $40 per hundredweight.
Now that farmers have their spring wheat planted, the markets can turn their attention to weather and the growing season…and the winter wheat harvest that is underway.
With the region’s corn producers having completed their 2022 planting, the market will now start watching the weather closely to see what direction prices may move.
Canola prices have been volatile lately, with large one-day moves up or down depending on the day. The market is seeking direction as concerns shift from old crop supplies to new crop prospects. Soybean markets have helped the entire vegetable oil complex, recently hitting new highs. Renewab…
Soybean prices have remained high for several weeks in a row, but even with those high prices, demand for soybeans has remained very good over that time.
Unlike many other markets, there hasn’t been a lot of movement in durum prices for several weeks. That said, durum prices have continued to remain quite strong at over $13 a bushel.
The ongoing war in Ukraine, which is one of the top producers of sunflower oil in the world, coupled with tight world supplies of vegetable oil, are keeping sunflower prices at near record highs.
A slow start to the planting season due to uncooperative weather and uncertainty with the ongoing Ukraine war with Russia has caused a lot of volatility in the wheat market, and it’s likely to continue.
High prices for corn have been very good for producers, however, they have started to take a toll on demand. But with that said, the U.S. is still likely to hit USDA’s export projections for the marketing year.
The May USDA Oil Crops Outlook predicts U.S. production of canola this year will increase by 1.1 billion pounds to 3.9 billion pounds, or approximately 1.77 million metric tons (MMT). It expects canola imports to ramp up into the U.S. by 260 million pounds to 1.15 billion.
Many grain commodity prices have remained very good over the past few months, and although some may have backed down a bit off their highs, soybean prices have stayed consistent, staying near its highs.
While other wheat markets have been a little more volatile and seen prices appreciate, the durum market remains in limbo, not really moving or seeing the volatility experienced in other markets. Still, this limbo isn’t necessarily a bad place with prices remaining around the $13 mark.
While the war in Ukraine continues to wreak havoc on supply and demand for sunflower, the battle for acres also continued in the U.S. as cool, wet weather altered some spring planting plans. The factors have combined to send sunflower prices at area crush plants soaring to record highs.
There’s been a lot of volatility in the spring wheat market over the past couple months with prices seeing an appreciation of over $2 from the beginning of April to the end of May.
The corn market right now has been and will continue to be focused on planting progress for the near-term because time is running out.
Cool, wet weather through April and early May was slowing planting progress for soybeans and influencing the market.
The canola market has followed the entire vegetable oil market recently in finally letting off some steam from the run up in prices in recent months. There was no single determining factor that has caused weakness in oilseed markets other than a general risk-off attitude among traders. Uncer…
While other wheat markets, like spring wheat, are pushing prices higher, the durum market is not reacting in a similar fashion. Although prices are still quite good, they have not seen the appreciation that other markets have experienced in the last several weeks.
Sunflower prices, which were already high, continued to push to all-time highs in early May largely as a result of the war in Ukraine.
As of May 9, the spring wheat market, on both the futures and for cash levels, continued to push to highs for the year as a number of issues factored into the move, including weather, planting progress, and the ongoing war between Russia and Ukraine, among others.
Weather was still the primary focus of the corn market the first part of May as cool, wet weather was further delaying an already slow start to planting.
Just when the market was calling for as much oilseed production as possible going into the new crop year, canola supplies are looking tighter as Stats Canada, in its first survey-based report of the year, predicts canola acreage this year will be 20.89 million acres, down seven percent from …