Old crop canola supplies in North Dakota are indicated at very low levels as canola basis levels have improved significantly in July. Basis for current month and early August delivery at local crush plants in North Dakota ranges from $25 to $55 over the ICE canola futures prices.
Though durum and spring wheat are both classes of wheat, fundamentally they are different. And while spring what prices have been able to rally somewhat because of recent weather conditions, durum has not followed.
As the 2026 sunflower crop continues to develop under very hot conditions, sunflower prices also are getting hot and enjoying a nice rally.
Many of the commodity markets have been dominated by weather lately, as well as geopolitical issues, and those have helped boost spring wheat prices in late July.
Each growing season typically includes a period when weather is the main market factor influencing direction, creating a “weather market.” For corn, this “usually” happens in early July, but this year is different.
Canola prices have increased in recent weeks, partly due to a war premium after the talks between the U.S. and Iran broke down again. With crude oil rising on the news, canola and soybean oil have both trended up with their link to biofuel production. News of China purchasing more soybeans h…
Over the past few weeks there have been a lot of reports and updated numbers coming out of the U.S. Department of Agriculture. Unfortunately for durum, there has been little, if any, market reaction. As a result, prices have remained the same as they’ve been the past several weeks, even as o…
Sunflower acreage for oil-type sunflower is higher this year in North Dakota and South Dakota, according to USDA’s planted acreage report that was released at the end of June.
Hot, dry weather has taken over the lead in providing direction to the wheat market, as well as the corn and soybean markets. As a result, prices have been moving up and down, depending on the trade’s perception of yield impact.
Summer is when weather is perhaps the most important factor in giving direction to grain markets, and as hot, dry weather swept across much of the Northern Plains in mid-July, it provided a nice boost to corn prices.
The USDA reported in its June 30 Acreage Report that U.S. canola acres will be a record this year, reaching nearly 3 million acres. Acreage in North Dakota, the largest canola-producing state, came in at a record 2.35 million acres, up 30 percent from last year and surpassing the previous re…
Recent rains that fell over much of the region in late June has helped replenish soil moisture throughout much of the durum growing area of North Dakota and Montana, and, as an added bonus, durum prices are again at a premium to spring wheat.
Mid- to late June is the busiest time of year across the sunflower growing region as farmers push to finish up 2026 planting operations and begin crop protection activities over the next few weeks.
As June was ending and July approached, all grain commodity markets continued to see some pressure, but it seems the wheat markets have taken the brunt of things.
Total corn acres in the U.S. came in slightly higher than expected in the U.S. Department of Agriculture’s planted acreage report released on June 30. Corn prices varied before and after the report.
The drop in crude oil prices has caused the price of canola to fall considerably in the past two weeks, following the lead of soybean oil. Canola has dropped approximately 7 percent from recent highs while soybean oil has dropped by 10 percent. Several analysts have been expecting seasonal w…
The overall world durum situation for 2026 looks pretty promising with production forecast to potentially reach a record 1.43 billion bushels. But with the anticipated large production looming, there hasn’t been much movement in the market.
The U.S. Department of Agriculture (USDA) came out with its latest supply and demand report in mid-June, a report which was considered neutral by many traders.
The 2026 wheat crop got off to a rough start with delayed planting in some regions due to wet conditions, while other areas experienced drought-like conditions. And then prices started a slow slide down.
At this time of year, the corn market is worried about two crops – old and new crop corn – which tend to move in tandem. Unfortunately, both have been moving down in price lately.
A recent update from the Energy Information Administration shows that the biofuel enthusiasm is picking up steam as 403 million pounds of canola oil was used for biofuel production in March, the most since December 2024. A total of 1.28 billion pounds of soybean oil was used, the most since …
The start of the 2026 durum growing season in the region hasn’t been as smooth as hoped, and prospects of potentially large durum crops elsewhere have kept durum prices from moving higher.
As the month of June began, U.S. sunflower producers were making excellent planting progress, and sunflower prices for both old and new crop were unchanged to up 25 cents per hundredweight.
As May turned over into June and spring wheat planting was closing in on completion, the wheat market was looking at more volatility, which is not atypical.
Corn planting is nearing completion, and so far, the crop is looking good, which is positive for producers, but a good-looking crop along with geopolitical issues are putting pressure on the market and prices.
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