MarketsFarm – Feed grain prices took a tumble this week in Alberta, said Susanne Leclerc of Market Master Ltd. in Edmonton. “It’s kind of shocking. I know we had some harvest start in the southern part [of the province]. It seems to have really affected prices. Of course, corn got cheap with the futures dropping […] Read more
Feed weekly outlook: Influx of cheaper U.S. corn pushing down prices
Weaker Chicago corn prices led to a 50-cent/bu. drop in Alberta feed barley, wheat
U.S. livestock: CME live cattle ease despite cash market support
Despite losses, supportive fundamentals remain for live cattle
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures eased on Wednesday, pressured by macroeconomic weight as a downgrade that stripped the U.S. of its top credit rating rippled throughout markets, analysts said. Despite losses, supportive fundamentals remain for live cattle. “We’re still going into smaller numbers,” said Joe Kooima, commodity broker at Kooima […] Read more
Nutrien to pause potash ramp up, ammonia project on falling prices
Potash prices have eased after the resumption of shipments from major supplier Belarus
Reuters – Nutrien NTR.TO on Wednesday decided to indefinitely pause its ramp-up plans for potash production and halt work on its clean ammonia project at Geismar, Louisiana, as the world’s biggest fertilizer producer grapples with falling prices. Its U.S.-listed shares fell 2.6% in extended trading as the company cited market conditions for stopping efforts to […] Read more
U.S. grains: wheat falls after Ukraine port attack renews worries
Russian attack Wednesday underscored the risk of a further squeeze on Ukrainian exports
Chicago | Reuters – Chicago wheat slid for a sixth consecutive session on Wednesday, after sharp gains overnight as supply jitters caused by a Russian strike against a Ukrainian port were tempered by strong Russian exports and signs Moscow is open to reviving a Black Sea corridor deal. Soybeans dipped to one-month lows and corn […] Read more
ICE canola weekly outlook: Prices trending down ahead of harvest
Harvest pressure may not be that large this year says analyst
MarketsFarm – ICE Futures canola contracts lost ground during the week ended Aug. 2, as spillover from outside markets and easing concerns over the state of the crop ahead of the harvest weighed on values. Excessive heat during the flowering period in June and July caused canola prices to climb higher, but the market is […] Read more
CBOT weekly outlook: August forecasts pulling prices down
Wheat prices went down during the week despite Russia’s withdrawal from Black Sea deal
MarketsFarm – Recent weather forecasts for much of the United States put pressure on grain prices on the Chicago Board of Trade (CBOT) during the week ended Aug. 2. Cooler and wetter conditions are expected for the U.S. Midwest during the first half of August, which could help stabilize corn and soybean crops affected by […] Read more
Manitoba’s crops continue to hold up
Hay yields generally below average; pasture conditions were deteriorating due to dryness
MarketsFarm – Timely rains in Manitoba have kept the province’s crops in relatively good shape, according to the latest crop report. Manitoba Agriculture said precipitation as of Aug. 1 amounted to as much as 73 millimeters around Zhoda in the southeast to 13 mm at The Pas in the north. Although several locales throughout the […] Read more
Prairie forecast: Warm-hot start then slow cooldown
Issued August 2, covering August 2 to 9
The weather models have been doing a good job with the overall weather picture over the last several weeks, despite a fairly unsettled, tough-to-figure-out weather pattern. In this next forecast period, it will again be tough to figure out some of the finer details as our region experiences weak highs, lows, and even the possibility […] Read more
Russia strikes Ukraine’s Danube port, sending global grain prices higher
Port hit on Danube opposite NATO-member Romania; Kyiv says aim is to intimidate shippers considering return
Kyiv | Reuters – Russia attacked Ukraine’s main inland port across the Danube River from Romania on Wednesday, sending global food prices higher as it ramps up its use of force to prevent Ukraine from exporting grain. The attacks destroyed buildings in the port of Izmail and halted ships in their tracks as they prepared […] Read more
U.S. livestock: CME live cattle firms on strong cash market
Lean hog futures eased after reaching fresh four-month highs
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures gained on Tuesday, helped by strong cash prices and technical support, analysts said. “Cash market is still hanging in there at $179 to $180 area. More than that in the north. So August was too big of a discount,” said Alan Brugler, president of Brugler […] Read more
Canadian Cattlemen Presents: Depth of Field
