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Latest From John Buckley
Winnipeg rapeseed futures have again been trying to claw their way off recent sub-CAD475/tonne lows with a little help from a weaker Canadian dollar, less farmer selling and some speculative short-covering.
It was another tough week for origin palm oil suppliers looking for their beleaguered market to bottom out price-wise.
CBOT soy futures struggled to make a consistent trend this week, buffeted by changing day-to-day sentiment over prospects for a US/China trade rapprochement, mixed US export news, rapid Latin American sowing and a lot of speculation about next year’s US planting plans.
US corn futures stayed range-bound with a weaker bias, unable to fend off bearish input from plummeting crude oil prices and recent tighter margins on corn-ethanol refining.
Signs that Russia’s recent dominance of world wheat trade might finally be receding helped lift sentiment on the previous sagging EU wheat futures market this week.
The unexpectedly steep drop in crude oil prices weighed on sugar values for much of this week, prompting ideas Brazil might divert less cane than expected into ethanol and more to sugar production.