Chicago | Reuters — U.S. corn futures rose on Thursday on technical buying and short covering following a two-week slide that took prices to 2-1/2 year lows. Soybean futures fell in a profit-taking retreat from multi-month highs posted after the U.S. Department of Agriculture (USDA) unexpectedly slashed its U.S. plantings estimate and as recent rains […] Read more
U.S. grains: Corn firms on technicals, short-covering
Soybeans retreat; wheat futures consolidate
U.S. livestock: CME live cattle ease on weak cash market
Lean hog futures mostly higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures declined on Thursday as a weak tone to the cash market and worries about slowing beef demand weighed on prices, traders said. Livestock traders were monitoring cash market activity at Plains feedlots, where fed cattle were lightly bid at $178/cwt, below the bulk of cash […] Read more
Feed weekly outlook: Falling corn prices not spurring new demand
Feed barley bids in Alberta, Manitoba up from month-ago
MarketsFarm — Falling prices for U.S. corn futures on the Chicago Board of Trade (CBOT) are having little effect on shipments going to Alberta feedlots, according to one grain buyer. The September corn contract fell to its lowest price since January 2021 when it dropped to US$4.79 per bushel on Wednesday, before closing at US$4.8525/bu. […] Read more
Thunder Bay grain shipments up on year
Less potash moved so far this year
MarketsFarm — Grain shipments through the Port of Thunder Bay are running well ahead of the previous year’s pace, according to updated data from the Lake Superior facility. Grain shipments through the end of June of about 2.5 million tonnes were up by 760,000 from the same point the previous year. Monthly shipments in June […] Read more
U.S. livestock: Cattle futures turn lower
Current-year hog futures higher
Chicago Mercantile Exchange live cattle and feeder cattle futures took a turn lower in resumed trading Wednesday while near-month hogs turned higher. Most-active August live cattle came back off the U.S. Independence Day break down for a second day off Friday’s three-week high, closing Wednesday at 174.95 cents/lb., down 1.875 cents from Monday (all figures […] Read more
ICE weekly outlook: Canola makes huge move
Prairies' dry patches add to upswing
MarketsFarm — Canola came out of Canada Day continuing to build on gains made going into the holiday, largely due to spillover from the Chicago soy complex. The U.S. Department of Agriculture last Friday released its planted acres report, which saw soybeans lose four million acres from the 87.5 million planted in 2022, leading to […] Read more
CBOT weekly outlook: Acreage at forefront in soy, corn markets
USDA estimates were bullish for soy, bearish for corn
MarketsFarm — Surprising acreage estimates released by the U.S. Department of Agriculture last Friday could remain a major feature in soybean and corn markets for the foreseeable future, as traders contemplate a much smaller-than-expected soybean acreage base and larger-than-expected corn area. “You can’t close your eyes on these acreage numbers,” said Scott Capinegro of Barrington […] Read more
NAFTA meeting to skirt major disputes, U.S. trade rep says
Dairy, corn, energy issues to be discussed via separate channels
Washington | Reuters — U.S. Trade Representative Katherine Tai’s meetings with North American trade partners Canada and Mexico this week will not delve deeply into major disputes over Mexico’s biotech corn and energy policies nor Canadian dairy access, a senior USTR official said on Wednesday. The annual meeting of the Canada-U.S.-Mexico Agreement (CUSMA) Free Trade […] Read more
Prairie Forecast: Big change in weather pattern
Issued July 5, covering July 5-12
Most people have been saying that June felt like July and the weather statistics agreed. Well, if the weather models are correct, it’s looking like July will feel more like June — at least for the next forecast period. Here is the big picture before we dive into the details for each of the three […] Read more
U.S. grains: Wheat surges on slow harvesting, poor crop conditions
Corn hits 2-1/2-year low and ends mixed, soy mostly firm
Chicago | Reuters — U.S. wheat futures surged on Wednesday as slow winter wheat harvesting and deteriorating spring crop conditions fuelled buying and short covering that lifted prices from 2-1/2-week lows. The wheat rally pulled corn up from 2-1/2-year lows despite expanded plantings and recent rains that lessened concerns about drought-reduced yields. Soybeans firmed on […] Read more
Canadian Cattlemen Presents: Depth of Field
