SASKATOON — Analysts say Canadian canola prices are being weighed down by a massive soybean crop in the United States, but there is a glimmer of hope south of the border. The U.S. Department of Agriculture estimates U.S. soybean production will reach a record 124.9 million tonnes in 2024-25. That has pushed prices 18 per […] Read more
Tag Archives Todd Hultman
Speculators drive grain prices lower
November soybean futures are well below the estimated cost of production of $11.90 per bushel
SASKATOON — A leading analyst says grain prices should be bottoming out, but a recent supply and demand report did not help matters. “We are already down to extremely cheap price levels on corn and beans,” said DTN lead analyst Todd Hultman. Related stories: “It’s just hard for me to imagine much more downside risk, […] Read more
Wheat price outlook hinges on Russia
The market has already begun to respond as dry conditions and now frost significantly threaten production this year
SASKATOON — The 2024-25 wheat market outlook hinges on one key question. “The bottom line is, it comes back to Russia. Are they going to be able to have a big enough crop again this year to dominate world exports and hold prices down, or not?” DTN lead analyst Todd Hultman said during a recent […] Read more
Soybean convergence bodes well for prices
Brazilian prices have almost caught up with the American crop, which is unexpected but welcome news for the market
SASKATOON — Todd Hultman is closely monitoring a potentially “very bullish” situation for the soybean market. Freight on board (f.o.b.) soybean prices for July have dramatically narrowed between Brazil and the United States. Related stories: Soybean prices in Paranagua that were US$1.75 per bushel lower than those in New Orleans in February are now a […] Read more
Corn, soy futures may have bottomed out
HOUSTON, Texas — Grain analysts believe corn and soybean futures prices have bottomed out. DTN lead analyst Todd Hultman told growers attending the 2024 Commodity Classic conference that corn ending stocks in the United States are forecast to be about the same level they were in the 2015-20 period. Related stories: Corn and soybean prices […] Read more
Soybean prices have more upside than corn
SASKATOON — Todd Hultman is picking soybeans over corn in 2023-24. “If you want to hang onto one of them, soybeans definitely have the better bullish potential,” he told farmers attending the 2023 DTN Virtual Ag Summit. The United States Department of Agriculture is forecasting 245 million bushels of U.S. soybean ending stocks in 2023-24. […] Read more
Large U.S. corn crop to put pressure on feed barley prices
Farmers in the United States grew a lot more corn than originally anticipated and that will be a bearish factor for Canadian feed barley prices. The U.S. Department of Agriculture raised eyebrows with its November World Agricultural Supply and Demand Estimates report. “It was a surprise today, I have to admit,” said DTN lead analyst […] Read more
Grain markets watch Brazilian weather
The weather outlook appears challenging for the world’s largest exporter of corn and soybeans, which has ramifications for the entire grains and oilseeds complex. It is already much drier than normal in central and northeastern Brazil and the forecast calls for more of the same. A probability forecast prepared by the Columbia Climate School International […] Read more
Soy oil price continues to slide
A technical analysis had DTN lead analyst Todd Hultman thinking soybean oil futures were going to finish October by closing above the 20-day average of US54 cents per pound. That would have signaled a bottoming out in prices and a bullish change in short-term momentum. That did not happen. Prices continued to fall, closing at […] Read more
Cheap Russian wheat pressures prices
The country’s cheap wheat policy has discouraged production in other parts of the world, which could create a rally
A major U.S. farm lender believes a wheat price spike is on the horizon. CoBank is alerting U.S. grain elevators storing large volumes of wheat that there is potential for a “sharp rally in wheat prices” in the year ahead. “The flood of cheap Russian wheat into the global market may have created a false […] Read more
