MarketsFarm — In its May supply and demand report, the International Grain Council (IGC) has forecast lower global production of wheat and corn in 2022-23, while soybeans are expected to rise. The IGC, in its latest report Thursday, lowered its call on total world grain production to 2.251 billion tonnes. That’s down by a little […] Read more
Global production declines expected for wheat, corn
IGC expects world soybean output to increase
Planting progress picking up in Saskatchewan
MarketsFarm — Overall spring planting across Saskatchewan reached 33 per cent complete as of Monday, according to the latest weekly crop report from Saskatchewan Agriculture. Despite the good progress over the week, that’s still 20 points behind the five-year average. When compared to the excellent progress this time last year, the gap expands to 41 […] Read more
Feed weekly outlook: Wheat far more expensive
MarketsFarm — The price for feed wheat is exorbitantly much higher than for barley or corn, according to Jim Beusekom of Market Place Commodities in Lethbridge. While price reports into that area’s feedlot alley put feed barley at $465 per tonne and corn at $480, wheat is about $600, he said. Feed wheat “is trending […] Read more
U.S. grains: Soybeans jump on export demand
Wheat falls on profit-taking; corn deferred contracts slip on weather, crop development
Chicago | Reuters — Chicago wheat futures fell on Thursday, giving back more of their recent gains, as traders sought to take profits amid mixed crop weather in the Northern Hemisphere and wider concerns about an economic slowdown. Meanwhile, soybean and soybean meal futures jumped on news of robust international demand, amid signs the U.S. […] Read more
U.S. livestock: CME live cattle mixed as traders await USDA data
Lean hog futures turn lower
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures ended mixed on Thursday as traders awaited U.S. Department of Agriculture data on the number of cattle in feedlots. USDA’s Cattle on Feed report, due Friday at 2 p.m. CT, is expected to show U.S. feedlots held 1.3 per cent more on May 1, compared […] Read more
ICE weekly outlook: Highs might be in for old-crop canola
New crop in 'a very uncertain stage'
MarketsFarm — The highs may be in for old-crop canola contracts on the ICE Futures platform, with attention in the market turning to the new crop. “I think the market has probably defined the upside potential and the acute demand rationing that needed to occur is done,” said Jerry Klassen, an independent commodity trader and […] Read more
CBOT weekly outlook: Rallies end as plantings continue slow pace
MarketsFarm — Soybean and wheat prices on the Chicago Board of Trade (CBOT) rallied throughout the week, but may start to ease as spring plantings progress. Terry Reilly, senior agriculture futures analyst for Futures International in Chicago, said India’s newly-implemented ban on wheat exports starting last Saturday due to a severe heat wave was the […] Read more
U.N. chief in talks on restoring Ukraine grain exports
Contact made amid global food crisis
United Nations | Reuters — U.N. Secretary-General Antonio Guterres said on Wednesday that he is in “intense contact” with Russia, Ukraine, Turkey, the United States and the European Union in an effort to restore Ukrainian grain export as a global food crisis worsens. “I am hopeful, but there is still a way to go,” said […] Read more
Canadian retailers impose limits on baby formula purchases
Canada not as hard hit by shortage as U.S.
Toronto | Reuters — Many Canadian retailers have imposed limits on the amount of baby formula customers can buy amid a shortage following Abbott Laboratories’ February production suspension in the United States, an industry spokesperson said on Wednesday. Canada has not been as hard hit by the shortage caused by the suspension at the Abbott […] Read more
U.S. grains: Wheat futures slide on Russian crop exports, U.N. grain talks
Soybeans, corn also pull back on wheat pressure, profit-taking
Chicago | Reuters — U.S. wheat futures fell sharply on Wednesday following a report about United Nations efforts to restore Ukraine grain shipments and as forecasts of ample Russian supplies added to the impact on sentiment of expectations high prices will curb demand. Corn and soybean futures also slid as falling wheat prices led profit-taking, […] Read more
Canadian Cattlemen Presents: Depth of Field
