MarketsFarm — Canadian canola ending stocks were down sharply at the end of 2020-21 compared to the previous marketing year, but still came out well ahead of trade expectations. Many other crops also saw larger-than-expected carryout numbers in Statistics Canada’s principal field crop stocks report as of July 31, 2021, released Wednesday. According to MarketsFarm […] Read more
Canola ending stocks down on year, but beat expectations
StatsCan pegs barley ending stocks at record low
ICE weekly outlook: Canola market awaits harvests, USDA
MarketsFarm — Canola contracts on the ICE Futures platform drifted lower during the week ended Wednesday, although the market remains stuck in a sideways trading pattern overall as participants try to get a better handle on the size of this year’s crop. An upcoming supply/demand report from the U.S. Department of Agriculture also has the […] Read more
CBOT weekly outlook: ‘Tricky’ USDA report due Friday
MarketsFarm — With the U.S. Department of Agriculture (USDA) set to issue its monthly supply and demand estimates (WASDE) on Friday, a broker said it will be a “tricky report.” That’s because of the impact Hurricane Ida had on the U.S. transportation system, according to Scott Capinegro of Barrington Commodities at Barrington, Ill. In particular, […] Read more
U.S. livestock: CME cattle, hog futures fall
Chicago | Reuters — Chicago Mercantile Exchange cattle and hog futures weakened Wednesday, with live cattle sagging to their lowest in three months on sluggish cash market activity, traders said. The hog market was pressured by concerns about demand in China, where high prices have slowed the consumption of pork. CME December live cattle settled […] Read more
U.S. grains: Wheat futures fall, soybeans rise, corn flat
Chicago | Reuters — U.S. wheat futures fell on Wednesday, dragged lower by a firmer dollar that threatened to make U.S. supplies less competitive on the export market, traders said. Corn futures steadied after sinking to their lowest in two months early in the day, with bearish harvest expectations limiting any rally attempts. “Corn recovered […] Read more
China’s buyers expect Brazil’s beef back soon despite BSE cases
Beijing | Reuters — Chinese beef importers said Monday the suspension of exports by top supplier Brazil due to two cases of BSE has had no immediate market impact, with some still making purchases in anticipation of a quick resumption of trade. Brazil said on Saturday it had confirmed two cases of ‘atypical’ bovine spongiform […] Read more
U.S. livestock: CME live cattle touch three-month lows
Demand from packers softening
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures slid to three-month lows on Tuesday, as beef demand slows, leaving cattle producers with ample supply as packer demand softens, traders said. “Packers are bought for a long ways out — have a lot of inventory,” said Scott Varilek, broker at Kooima Kooima Varilek Trading […] Read more
U.S. grains: Corn, soy, wheat slide on stronger U.S. dollar, export concerns
Market awaits USDA crop forecasts ahead of corn, soy harvests
Chicago | Reuters — Chicago corn, soybean and wheat futures slipped Tuesday as a stronger dollar, export concerns and early U.S. harvest activity weighed on the complex ahead of the U.S. Agriculture Department’s monthly supply and demand report, due out Friday. Analysts anticipate USDA’s Sept. 10 outlook to increase estimates of U.S. corn and soybean […] Read more
Pulse weekly outlook: Chickpeas find high-priced silver lining
MarketsFarm — Like many other crops across Western Canada, chickpeas weren’t immune to hot and dry growing conditions over the summer. This year’s domestic chickpea crop is only expected to weigh in at 63,000 tonnes, according to Statistics Canada — less than one-third of the five-year average of 189,600 tonnes. In Saskatchewan, some parts of […] Read more
Klassen: Optimistic fed cattle outlook supports feeder market
Compared to last week, western Canadian feeder cattle markets traded $2-$4 higher. Strong demand was noted on yearlings, which spilt over into the lighter weight categories. Major feedlot operators in Alberta set the price structure, with aggressive orders flowing across the Prairies. Some operators have been holding back on purchases due to higher prices; however, […] Read more
Canadian Cattlemen Presents: Depth of Field
