Commodity futures
Oil prices saw a sharp decline on Monday after OPEC announced plans to increase its production capacity by around one million barrels per day (b/d) in the coming months. The news came as a shock to the market, which had been experiencing volatility in recent trading sessions. Despite a
Commodity futures
In a sudden surge, grain and oilseed futures at the Winnipeg Commodity Exchange (WCE) rose in mid-session, driven by strength in CBOT soybean and corn futures. Sources attribute the gains to commercial short covering and speculative commission house demand, as traders point to the extreme strength in the US market.
Commodity futures
This week marked the beginning of the harvest season, with signs of increasing pressure on US cash corn and soybean markets. Record-low temperatures in the northern Plains and upper Midwest triggered frost damage to slow-maturing crops, affecting the Dakotas, Minnesota, and Wisconsin. Despite a sharp increase in soybean receipts and
Commodity futures
Trading activity on the Chicago Board of Trade (CBOT) is expected to be lower, with soybean futures experiencing a decline of 3 to 5 US cents per bushel due to improving weather conditions in the US Midwest. Cooling temperatures in the past week may have resulted in a 1% to
Commodity futures
The Winnipeg Commodity Exchange saw a decline in grain and oilseed futures on August 16, 2004, with fresh contract lows set in feed grains in moderate trade. Canola posted significant losses due to hedge selling, which was triggered by the beginning of harvest activity. The soft tone in Chicago Board
Commodity futures
Oil prices experienced a significant dip on Tuesday, with Nymex crude futures breaching the $45 per barrel mark for the first time in 21 years. The futures contract reached a record level in early trading, but later eased due to news that Iraq was set to resume oil exports from
Commodity futures
Trade activity on the Winnipeg Commodity Exchange (WCE) is expected to begin Monday's session with a firmer tone, driven by weather forecasts and higher CBOT grain and soybean values. The release of new supply/demand balance sheets from the USDA this week may keep trading on the choppy
Commodity futures
The Winnipeg Commodity Exchange's Western barley futures have found a temporary bottom, but the path of least resistance still appears to be down, according to industry sources. The recent strength in the commodity was attributed to correcting from oversold conditions rather than fresh bullish fundamentals. Industry representatives expressed
Commodity futures
The Winnipeg Commodity Exchange (WCE) witnessed a decline in canola futures at midday Tuesday, August 3, 2004, amidst favorable weather conditions for crop development in Western Canada. The losses were partly attributed to the weakness in Chicago Board of Trade soybean values on Monday, when the WCE was closed for
Commodity futures
Chicago corn futures are expected to open steady to 1 cent per bushel lower on Wednesday due to a lack of fundamental news and warmer temperatures in the long-term weather models. Traders are waiting for the soybean market to move, as its crop is entering a critical growing stage. Meanwhile,
Commodity futures
Despite beef packers regaining control of their cutout values and cattle slaughter increasing Tuesday, opening calls for Chicago Mercantile Exchange live and feeder cattle futures were mostly steady. The main buyers during the recent futures rallies have been funds and fund-like accounts, which rolled Aug longs and purchased additional Oct
Commodity futures
The US wheat futures market witnessed a decline on Thursday, July 22, 2004, due to Egypt's decision to bypass American wheat and opt for French wheat instead. This move had a significant impact on the market, causing US wheat futures to fall despite the fact that weekly export
