The Canadian Grain Commission has revoked the licence of LSM Commodities. In a phone message to the Western Producer, a commission spokesperson said the licence was revoked as of 12:01 a.m. July 23.
Chicago Board of Trade soybean futures jumped on Monday on a flurry of short covering, with prices rebounding from last week's 2020 lows as traders re-evaluated the U.S. political landscape after U.S. President Joe Biden abandoned his reelection bid on Sunday.
Chicago Board of Trade wheat futures climbed on Friday on short-covering and concerns over weather in wheat-growing areas of the U.S. Plains and globally.
Alberta reported its crops were still in good shape despite temperatures pushing above 30 degrees Celsius and a lack of rain as of July 16. The report put the overall rating for the province’s crops at 74 per cent good to excellent, seven points above the five-year average.
Chicago Board of Trade (CBOT) soybean futures rose on Thursday on bargain buying and signs of renewed export demand after the most-active contract Sv1 fell to a nearly four-year low in early trading, analysts said.
Despite a weakened United States dollar on July 17, activity in the grains at the Chicago Board of Trade was choppy, according to broker Ryan Ettner of Allendale Inc. in McHenry, Ill. Added to that, Ettner pointed out the speculative funds resumed accumulating very large short positions in corn and soybeans.
As farms have increased in size, their storage requirements now mean far greater quantities of a single crop, whether it be canola or wheat. This means higher capacity, flat-bottomed bins. These are often centrally located, with larger capacity handling equipment and sometimes permanently installed handling equipment.
Warmer conditions across Manitoba during the week ended July 16 helped advance crop growth, with recent rainfall leaving most of the province with wet or optimal soil moisture conditions, according to the latest provincial crop report.