MarketsFarm — Hot and dry weather conditions cutting into crop ratings for soybeans and corn in the U.S. could see prices for both crops rise above nearby chart resistance levels, although the looming harvest may temper the upside potential. Both soybeans and corn were rated 53 per cent good-to-excellent in the latest weekly crop report […] Read more
CBOT weekly outlook: Poor crop ratings keep soy, corn supported
Major changes not expected in next WASDE
Swine fever detected in Sweden for first time
Recent outbreak in Balkans spurred culls
Stockholm | Reuters — A dead wild boar in Sweden has tested positive for African swine fever, Sweden’s Veterinary Institute said on Wednesday, the first such case in the country. African swine fever is harmless to humans but is highly contagious and deadly in domestic pigs and wild boars. It has spread from Africa to […] Read more
U.S. grains: Soy futures jump as heat, dryness hurt crop more than expected
USDA rates soy, corn crops least good-to-excellent since 2012
Chicago | Reuters — Chicago Board of Trade soybean futures jumped on Wednesday after weekly U.S. government data showed crop conditions deteriorated more than expected during hot, dry weather. Reduced crop ratings fuelled expectations among traders that the U.S. Department of Agriculture may cut its yield forecast in a monthly report due next week. USDA […] Read more
Panama Canal water levels at historic lows, restrictions to remain
Lake feeding canal low on rainfall
Panama City | Reuters — The Panama Canal’s water levels have not recovered enough as the end of the rainy season approaches and limits on daily transit and vessel draft will stay in place for the rest of the year and throughout 2024, the waterway’s authority said on Tuesday. The restrictions, implemented earlier this year […] Read more
New Zealand, Canada each claim wins in CPTPP dairy dispute
Dispute panel knocks Canada's dairy access rules
A dispute settlement panel called by New Zealand under the Trans-Pacific Partnership (CPTPP) trade pact has ruled Canada’s limits on dairy market access cramp its agreed-upon obligations. But despite the panel’s findings in New Zealand’s favour, Canada is also framing the panel’s ruling as a win — as it also generally upholds Canada’s ability to […] Read more
Pulse weekly outlook: Poor monsoon rains cut into India production
Canadian crops also expected lower
MarketsFarm — Disappointing monsoon rains in India this year are expected to cut into the country’s pulse production, according to reports out of the country. Crop production in India is highly dependent on the monsoon rains that typically soak the country from June through September, but the moisture to date was about nine per cent […] Read more
Fund long position edges higher in canola
Net long in CBOT soybeans down on week
MarketsFarm — The managed money long position in canola edged slightly higher during the week ended Aug. 29, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Aug. 29, 2023, the net managed money long position in canola futures came in at 13,904 contracts (41,949 long, […] Read more
Australian crop estimates adjusted slightly lower
Crop seen down 34 per cent from last year
MarketsFarm — Total 2023-24 winter crop production in Australia, at an estimated 45.2 million tonnes, is expected to be 34 per cent off the record highs hit last year but slightly above the June forecast as upward revisions to canola and barley counter a downward revision to the wheat number, according to the latest crop […] Read more
U.S. grains: Wheat up off three-month low as Australian crop declines
U.S. corn, soy crop ratings fall more than expected
Chicago | Reuters — Chicago Board of Trade wheat futures edged higher on Tuesday, after hitting a three-month low, amid short covering and concerns about dry weather threatening production in export hubs including Australia. Corn futures also rose, while the soybean market eased as traders awaited the start of U.S. harvesting. After the markets closed, […] Read more
U.S. livestock: CME lean hogs near one-month high on export outlook
CME cattle futures close lower
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures neared a one-month high on Tuesday on expectations for increased U.S. pork exports and tightening supplies. Demand for U.S. pork is benefiting as high pig prices in Europe cause global importers to shift some business to the United States, where pig prices have been weak, […] Read more
Canadian Cattlemen Presents: Depth of Field
