The grain handler built out from the foundations of the former Prairie pools is set to be absorbed into one of the world’s biggest grain trading firms in a cash-and-stock deal. After the news leaked out last month, Rotterdam-based Viterra confirmed Tuesday morning it’s “concluded an agreement” to merge into Bunge — the St. Louis-based […] Read more
Bunge, Viterra confirm marriage plans
Firms to merge under Bunge banner
Klassen: Feeder cattle under 500 lbs. jump over $400
U.S. beef output expected down in 2024
Compared to last week, western Canadian yearling prices for 800-lb.-plus cattle traded $8-$10/cwt higher. Feeder cattle in the range of 600-800 lbs. were up $6-$8/cwt on average. Calves weighing 500-600 lbs. were unchanged to $10 higher, although supplies were limited. Feather-light calves under 500 lbs. traded $10 to as much as $30 over week-ago levels. […] Read more
Fund short position grows in canola
Traders net long in soy, K.C. wheat
MarketsFarm — The speculative short position in canola grew to is largest level in nearly three months in early June, as investors covered longs and put on more bearish bets, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of Tuesday (June 6), the net managed money […] Read more
Western Canada covered in smoke as wildfires loosen grip on Quebec
Over 200 of 449 wildfires now out of control
Ottawa | Reuters — Smoke shrouded Western Canada on Monday as wildfires flared again in the main oil-producing province of Alberta, while firefighters in Quebec doused some of the worst early-season blazes, allowing thousands of evacuees to return home. Canada is enduring its most destructive start to wildfire season, with about 4.8 million hectares — […] Read more
Drought expands across Canadian Prairies
Dry conditions push eastward in Manitoba
MarketsFarm — Warm and dry conditions across much of the Prairies in May caused drought conditions to worsen, especially in Alberta, according to the latest Drought Monitor report from Agriculture and Agri-Food Canada. As of May 31, an estimated 79 per cent of the Prairie region was classified as abnormally dry (D0) or in moderate […] Read more
U.S. livestock: CME lean hogs extend climb on bargain-buying
Cash prices support cattle futures
Chicago | Reuters — Benchmark lean hog futures on the Chicago Mercantile Exchange set a one-month high on Monday on short-covering and bargain-buying as the July contract extended its rebound from life-of-contract lows set in late May, traders said. CME July lean hogs settled up 1.975 cents at 91.6 cents/lb. after reaching 93.125 cents, the […] Read more
U.S. grains: Corn climbs on dry conditions
Wheat follows corn higher, soybeans mixed
Chicago | Reuters — U.S. corn futures rose to a nearly two-month high on Monday as traders fretted about disappointing weekend rains and dry conditions stressing crops in portions of the Midwest crop belt, analysts said. Wheat futures followed, finding additional support from rising tensions in the Black Sea region. Soybean futures settled mixed, with […] Read more
Prairie cash wheat: Hard red spring wheat bids rise
MGEX wheat rally offsets rising loonie
MarketsFarm — Spring wheat bids in Western Canada were mostly higher during the week ended Thursday, as a rally in Minneapolis spring wheat futures countered the bearish influence of a rising Canadian dollar. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $8.80-$10.70 per tonne across the Prairies, according […] Read more
Canada extends Ukraine tariff-free access
Access to supply-managed sectors tightened
Winnipeg | Reuters — Canada on Friday extended Ukraine’s tariff-free access for most goods, but tightened access for eggs, poultry and dairy — sectors protected under the Canadian supply-management system. Finance Minister Chrystia Freeland said tariff relief for Ukrainian goods such as steel — a temporary measure started a year ago — would continue for […] Read more
Calgary-area MLA named Alberta’s new ag minister
RJ Sigurdson to handle ag file, Horner moves to finance
The Alberta government’s caucus lead on emergency medical services (EMS) reform has been promoted to handle the agriculture file in a post-election cabinet shuffle. RJ Sigurdson, MLA for the constituency of Highwood, just south of Calgary, was sworn in Friday by Lt.-Gov. Salma Lakhani as Alberta’s new minister of agriculture and irrigation, replacing Nate Horner. […] Read more
Canadian Cattlemen Presents: Depth of Field
