Commodity Prices Fluctuate Last Week

Canola prices were on the upswing over the past week, while wheat futures are starting to show a downward trend.

 

Adam Pukalo with PI Financial notes that canola was up more than 16 dollars a metric ton last week, while spring wheat futures were down more than seven cents a bushel.  "There was a USDA report and it came out fairly bullish for the soybean side of the market, so that helped both soybean and canola actually reach new multi-year highs. Export demand remains strong, stocks continue to tighten, and there are some weather concerns that are still in the South America crop.  For production, the average US corn yields were actually lowered by 2.6 bushels to 175.8 bushels per acre.  That was actually fairly bullish for corn prices.  Similarly, soybean yields were lowered to 50.7 bushels an acre which is a drop of about 0.8 bushels from the October report."

 

Pukalo is seeing some weakness in the markets overall.  "Overall, the grain markets remain in a positive trend but are pulling back slightly.  On the wheat side of things it actually wasn't a bullish report, it was more neutral on that front.

 

The outlook going forward, Pukalo will be watching the new highs on soybean and canola markets.  He is hoping that wheat will hold around the $5.62 on the March Minneapolis contract.  He will also be watching the Canadian markets and the Canadian dollar which both could be determining factors.  

Video: Dicamba Returns for Georgia Farmers: What the New EPA Ruling Means for Cotton Growers

After being unavailable in 2024 due to registration issues, dicamba products are returning for Georgia farmers this growing season — but under strict new conditions.

In this report from Tifton, Extension Weed Specialist Stanley Culpepper explains the updated EPA ruling, including new application limits, mandatory training requirements, and the need for a restricted use pesticide license. Among the key changes: a cap of two ½-pound applications per year and the required use of an approved volatility reduction agent with every application.

For Georgia cotton producers, the ruling is significant. According to Taylor Sills with the Georgia Cotton Commission, the vast majority of cotton planted in the state carries the dicamba-tolerant trait — meaning farmers had been paying for technology they couldn’t use.

While environmental groups have expressed concerns over spray drift, Georgia growers have reduced off-target pesticide movement by more than 91% over the past decade. Still, this two-year registration period will come with increased scrutiny, making stewardship and compliance more important than ever.