Commodity Markets, Prices & Futures

The Imperial Strathcona Refinery in Alberta is receiving a 12% tax credit for its $720 million under-construction canola-based renewable diesel facility.

Grains end higher for a third day on speculative short covering and corrective buying. DuWayne Bosse, Bolt Marketing, says wheat is also putting in risk premium. Can it continue to lead row crops higher?

Grain and livestock futures try to extend gains for a third day. Kent Beadle, Paradigm Futures, says there are several fundamentals driving it but technically markets have also seen strong action.

Jim McCormick, AgMarket.Net, says the wheat market is adding risk premium and if it keeps going corn and soybeans could follow producing a sustained fund short covering rally.

A risk on day resulted in higher closes in both grain and livestock futures.  What drove the buying, and will it continue? Jim McCormick, AgMarket.Net, has details.  

Cattle rally with bullish placements in the Cattle on Feed report and steady Southern cash says Brad Kooima, Kooima Kooima Varilek. Hogs fail after a chart breakout. Grains rally on EU weather/frost & short covering.

Grains close higher on Friday on short covering and putting in some risk premium, but will the rally continue into next week? Rich Nelson, Allendale, Inc, says it will be a tough lift.

USDA and the U.S. Agency for International Development (USAID) announced the release of $1 billion in previously allocated food aid.