Chicago | Reuters — Chicago Board of Trade corn and soybean futures dropped on Tuesday, under pressure from a fast pace of planting across key production areas of the U.S. Midwest and an outlook for good growing weather once seeding is finished, traders said. Soft red winter wheat futures also weakened, with the benchmark CBOT […] Read more
U.S. grains: CBOT corn, soy, wheat fall on bearish weather
U.S. soy planting seen at near-record pace
U.S. livestock: Hog futures rebound on technical bounce
Chicago cattle futures firm
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures recovered from contract lows on a round of technical buying on Tuesday, traders said. Traders also noted the recent declines may spark interest in the export market. “U.S. pork has become some of the cheapest in the world and it would appear we’re indeed starting […] Read more
Canada will not be intimidated by China retaliation, Trudeau says
China seen as 'more sensitive about food security' now, CAPI says
Ottawa | Reuters — Prime Minister Justin Trudeau on Tuesday said Canada will not be intimidated by China following tit-for-tat diplomatic expulsions by Ottawa and Beijing. Ottawa expelled Chinese diplomat Zhao Wei on Monday over allegations related to foreign interference, and hours later, China asked a Canadian diplomat in Shanghai to leave by Saturday in […] Read more
Canola fund short position grows
Funds also net short in U.S. wheats
MarketsFarm — The managed money net short position in canola grew in early May as fund traders were busy liquidating long positions and moving more money to the short side of the market, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 2, the net […] Read more
Canada’s expected flax area smallest since 1950
Other commodity prices outperforming flax
MarketsFarm — Blue flowery fields of flax will be fewer and farther between in Western Canada, according to Statistics Canada’s (StatCan) first survey-based seeding intentions report for 2023-24. In a report released late last month, StatCan projected only 689,000 acres of flaxseed to be planted this spring, an 11.6 per cent decrease from the year […] Read more
Rain, drought highlight different growing areas
Eastern Prairies to see improved rains
MarketsFarm — Depending on which region you’re in, you could be stuck in a severe drought or facing rains that will help alleviate that dryness or push back when fields should be dry enough to begin spring planting. That’s the assessment from Drew Lerner, president and senior agricultural meteorologist at World Weather Inc. at Overland […] Read more
Alberta ‘crossing fingers’ for rain amid wildfires
CN mainline traffic west of Edmonton suspended
Reuters — Firefighters were counting on rain and cooler weather forecast for Monday to help them quell a dramatic start to Alberta’s wildfire season. The province declared a state of emergency on Saturday in response to wildfires in northern and central regions that have displaced nearly 30,000 people and prompted energy producers to shut in […] Read more
U.S. grains: Chicago soy dips, corn flat as planting progresses
No agreement yet to extend Ukrainian export shipping
Mexico City | Reuters — Chicago soybeans ended down and corn was flat on Monday, as U.S. planting progressed ahead of last year and uncertainty over whether Ukraine’s safe shipping agreement for grain exports will be extended with the deal set to expire on May 18. Corn, one of the crops exported out of Ukraine, […] Read more
U.S. livestock: Hog futures extend losing streak
Feeder cattle turn higher on bargain buying
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell for the fourth straight session on Monday, with the most-active June contract hitting a new low, with traders focused on cash market weakness and light demand for pork. In CME cattle futures, feeder cattle contracts rebounded from six straight losing sessions on some bargain […] Read more
CNH raises revenue guidance on robust tractor demand
Price increases support profit margins
Milan | Reuters — Farm and construction equipment maker CNH Industrial on Friday raised its full-year revenue forecast as operating profit topped expectations in the first quarter, aided by a strong order backlog and resilient demand for its large tractors. The company increased its revenue outlook for industrial activities to between eight and 11 per […] Read more
Canadian Cattlemen Presents: Depth of Field
