Chicago | Reuters — The U.S. Department of Agriculture on Tuesday raised its forecast for beef production and cattle prices in 2021 and 2022 due to strong demand and heavier livestock. Robust sales of U.S. beef to domestic consumers and overseas buyers have helped support Chicago Mercantile Exchange (CME) cattle futures. USDA, in a monthly […] Read more
U.S. livestock: USDA lifts estimates for beef production, cattle prices
December live cattle up, lean hogs lower
U.S. grains: Soy jumps on USDA’s surprise cut to yield estimates
Traders had expected a higher soy yield; U.S. corn carryout seen lower than last month
Chicago | Reuters — Chicago Board of Trade (CBOT) soybean futures soared on Tuesday after the U.S. Department of Agriculture reduced its estimate for domestic yields, surprising traders who were expecting an increase. USDA pegged production at 4.425 billion bushels on a yield of 51.2 bushels per acre in a monthly crop report. That was […] Read more
U.S. livestock: CME live cattle at two-month high on strong beef demand
December hogs follow pork lower
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures reached a two-month high on Monday amid expectations for solid demand for beef, traders said. Gains in cash cattle prices last week helped support futures, traders said. Meat packers killed an estimated 121,000 cattle at U.S. slaughtering plants on Monday, unchanged from a week ago, […] Read more
U.S. grains: Soybeans, corn sag before USDA report
Traders await department's crop and inventory forecasts
Chicago | Reuters — Chicago Board of Trade soybean and corn futures slumped on Monday as traders adjusted positions before the release of key U.S. Department of Agriculture crop and inventory forecasts on Tuesday. Big U.S. harvests, near-perfect weather for planting in Brazil and signs of slowing purchases by top buyer China are bolstering […] Read more
U.S. livestock: Live cattle end higher, lean hogs eases
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures finished higher on Friday and gained about 1 percent for the week, helped by solid export demand, traders said. Demand from China has been particularly strong, fueled by the appetites of a growing Chinese middle class and diplomatic tensions with rival supplier Australia. The U.S. […] Read more
U.S. grains: Wheat, corn, soy sag as traders await U.S. crop report
Chicago | Reuters – U.S. grain futures stumbled on Thursday amid positioning ahead of a federal crop report next week that is expected to show bigger estimates for the nation’s corn and soybean harvests, analysts said. Losses pulled wheat back further from a nine-year high reached on Tuesday at the Chicago Board of Trade. Corn retreated from […] Read more
U.S. grains: Wheat futures extend retreat from 2012 high
Chicago | Reuters – Chicago Board of Trade wheat futures slid on profit-taking on Wednesday, traders said, after prices this week climbed to their highest level since 2012 on tightening world supplies and robust demand. Losses also hit the corn market, which retreated after rising on Tuesday to its highest price since Aug. 12. Wheat […] Read more
U.S. livestock: CME feeder cattle futures slide to five-month low
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures hit a one-week low on Monday on bigger-than-expected U.S. supplies, while feeder cattle dropped to a five-month low, analysts said. Traders have been expecting cattle supplies to tighten but did not see signs of it in October, said Rich Nelson, chief strategist for agricultural commodities […] Read more
U.S. grains: CBOT wheat nears 9-year high, buoyed by strong demand
Chicago | Reuters – Chicago Board of Trade wheat futures rose to their highest prices in almost nine years on Monday amid a flurry of deals in the global export market. Spillover strength from the rally helped lift CBOT corn futures against the backdrop of tightening world wheat supplies, traders said. Saudi Arabia’s main state […] Read more
Mexico won’t limit GMO corn imports from U.S., ag minister says
Ankeny, Iowa | Reuters — Mexico’s agriculture minister said the country would not limit imports of genetically modified (GMO) corn from the United States during a meeting with U.S. Agriculture Secretary Tom Vilsack in Iowa on Wednesday. Mexico published an executive order late last year that sought to ban in three years the use of […] Read more
Canadian Cattlemen Presents: Depth of Field
