MarketsFarm — Bids for Canada Western Red Spring (CWRS) wheat were mixed for the week ended Aug. 10, while those for Canada Prairie Spring Red (CPSR) and durum were on the rise. Scattered showers brought moisture across the Prairies, but attention has now turned to harvesting a wheat crop greatly affected by hot and dry […] Read more
Prairie cash wheat: Bids run mixed to higher
Domestic wheat yields now a question mark
Prairie Forecast Update: Low to chug through mid-week
Issued Aug. 13, covering Aug. 13-16
The weather models seem to have come to an agreement on the area of low pressure forecasted to come in off the Pacific around mid-week. It looks like the energy from this system will quickly spin up an area of low pressure over north-central Alberta on Tuesday. The low will then quickly deepen and track […] Read more
Canada’s record-setting wildfires could persist for rest of ‘marathon’ summer
Country's fires account for over a quarter of world's carbon for 2023
Ottawa | Reuters — Record-setting wildfires in Canada could potentially continue burning at an abnormally high rate for several more weeks, though the spread of blazes is likely to start diminishing in September, according to federal projections released on Friday. Forest fires have engulfed parts of nearly all 13 Canadian provinces and territories this year, […] Read more
Little change seen in USDA’s WASDE report
U.S. corn, soy, wheat production figures down from July report
MarketsFarm — August figures from the U.S. Department of Agriculture’s (USDA) world agricultural supply/demand estimates (WASDE) provided very few surprises and not much change after their release Friday. However, crop production and carryout estimates were tightened from those in July. USDA’s 2023-24 corn production estimate declined by 209 million bushels from July to 15.111 billion, […] Read more
U.S. grains: Soybean, grains futures drop as traders shed risk
Corn, soy harvests set to be smaller than expected
Chicago | Reuters — Chicago soybean and grain futures turned lower on Friday as improving growing weather led investors to anticipate that U.S. Midwest crop conditions will improve, traders said. Corn and soybean futures had a particularly choppy trading session as a flurry of bearish signs prompted investors to shed risks at the end of […] Read more
U.S. livestock: Cattle futures fall as packers’ profit margins in red
Lean hog futures show gains
Chicago | Reuters — Chicago Mercantile Exchange cattle futures fell on Friday, as cash cattle prices eased and packers continued to hemorrhage profits and remained reluctant to pay more for animals, analysts and traders said. Meanwhile, lean hog futures firmed as profit margins improved for pork processors. Limited cattle supplies kept a floor under the […] Read more
Ukraine announces ‘humanitarian corridor’ for other stuck ships
Moscow not yet commenting on plan
Kyiv | Reuters — Ukraine announced a “humanitarian corridor” in the Black Sea on Thursday to release cargo ships trapped in its ports since the outbreak of war, a new test of Russia’s de facto blockade since Moscow abandoned a deal last month to let Kyiv export grain. At least initially, the corridor would apply […] Read more
Feed weekly outlook: Crop conditions, barley demand lower
Prices expected steady to lower for now
MarketsFarm — As combining operations begin, dryness continues to plague crops in many parts of Saskatchewan. But while crop conditions aren’t as bad as they were during the drought of 2021, according to trader Evan Peterson from JGL Commodities in Saskatoon, crops are still very parched. “Southern and western parts are very, very poor. But […] Read more
U.S. grains: Corn, wheat firm ahead of USDA report
CBOT soybeans end mixed
Chicago | Reuters — Chicago Board of Trade corn and wheat futures firmed on Thursday, with traders unwinding bearish bets ahead of a key U.S. government report on supply and demand on Friday. The soybean market was mixed, with thinly traded old-crop contracts easing and new-crop contracts firming as investors adjusted positions ahead of the […] Read more
U.S. livestock: CME cattle firm, hogs mixed
Cattle supply outlook overrides demand concerns
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures firmed on Thursday, buoyed by a round of technical support as the market remained near last week’s highs. Feeder cattle contracts also posted gains, while lean hog futures were mixed Traders said that tight supplies underpinned cattle futures prices despite demand concerns. CME August live […] Read more
Canadian Cattlemen Presents: Depth of Field
