MarketsFarm — Trading at the Chicago Board of Trade (CBOT) was mostly affected by the release of the U.S. Department of Agriculture’s supply and demand estimates (WASDE) released earlier today. Corn, wheat and soybeans were all projected for greater worldwide production in the 2021-22 crop year compared to the previous year. Worldwide corn production is […] Read more
CBOT weekly outlook: Markets react to WASDE
USDA expects record world wheat crop in 2021-22
MarketsFarm — The latest U.S. forecast puts world wheat production at a new record in 2021-22, with bigger crops in a number of countries more than offsetting expected decreases in Canada and Australia. According to the first outlook for the marketing year from the U.S. Department of Agriculture, total world wheat production for 2021-22 is […] Read more
U.S. grains: Soybeans reach highest since 2012 on supply woes
Corn, wheat down on WASDE report
Chicago | Reuters — U.S. soybean futures set an 8-1/2-year high on Wednesday after a key U.S. government crop report projected that supplies of the oilseed would remain tight even after the 2021 U.S. harvest. Soaring CBOT soybean oil futures lent support, with the thinly traded May soyoil contract reaching 72.32 cents/lb., an all-time high […] Read more
Eastern drought zones set for livestock tax deferrals
Regions designated in P.E.I., N.S., N.B., Quebec
In a decision that may have come late for some, New Brunswick, Prince Edward Island and parts of southeastern Quebec and northwestern Nova Scotia have been declared drought zones for eligible livestock producers’ 2020 tax purposes. The federal government on Monday released its list and map of prescribed drought regions where tax deferral on sales […] Read more
U.S. livestock: CME live cattle extend rally as beef prices climb
June hogs down third straight day
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose on Tuesday for a fifth straight session, led by high-flying wholesale beef prices, analysts said. Feeder cattle futures also advanced but gains were muted as corn futures rallied, signaling higher costs to bring cattle up to market-ready weight. CME June live cattle futures settled […] Read more
U.S. grains: Soy futures top $16 for first time since 2012
Chicago corn, wheat also end higher
Chicago | Reuters — Benchmark U.S. soybean futures jumped above US$16 a bushel on Tuesday for the first time since 2012 as traders focused on tightening feed grain supplies and dry weather in Brazil’s corn belt, traders said. Corn and wheat futures also posted sharp gains, with nearby contracts leading the way up. A weaker […] Read more
Klassen: Stronger fed cattle prices underpin feeder complex
Limited feed and forage hinder further upside
Alberta packers were buying fed cattle on a dressed basis in the range of $265-$270 delivered this past week, up $3-$5 from seven days earlier. Live prices were quoted at $159-$162 delivered using a 60 per cent grading. If the feedlot operator booked their feed grains earlier in winter, live prices are $2-$3 above breakeven […] Read more
Walmart locks in CRSB claim for in-store beef brand
Chain to be first retailer in Canada with certified-sustainable label on pack
The Canadian arm of Walmart has locked in enough of a supply of certified-sustainable beef to label its entire Your Fresh Market burger patty line accordingly. The retail giant announced Monday it’s now sourcing beef from “certified sustainable” farms and ranches according to standards set by the Canadian Roundtable for Sustainable Beef (CRSB). The company […] Read more
‘Extreme drought’ expands in Prairies
Southern Manitoba, southeastern Saskatchewan parched
MarketsFarm — The newly released map from Agriculture and Agri-Food Canada’s Canadian Drought Monitor (CDM) shows the Prairies’ ongoing drought getting worse. According to AAFC’s nationwide map released on Friday, southwestern Manitoba, parts of southern Saskatchewan and the southeast corner of Alberta are under CDM’s classification of Extreme (D3) drought as of April 30. Communities […] Read more
Don’t count chickens before they hatch: Tyson bet on wrong rooster
Meat giant books unexpected decline in hatching
Chicago | Reuters — Tyson Foods is laying off a certain type of rooster from its U.S. chicken business after a surprising discovery that eggs fertilized by the male bird hatch less often, resulting in fewer chickens. The world’s largest meat producer by sales will install a replacement across its breeding program by this fall […] Read more
Canadian Cattlemen Presents: Depth of Field
