Analysts have raised their estimates for Australia’s wheat harvest, a Reuters poll showed, as better-than-expected yields in western cropping regions boosted the production outlook despite losses caused by dry conditions in parts of the south.
Updated supply/demand estimates from Agriculture and Agri-Food Canada, released Oct. 17, included only minor adjustments to the balance sheets for the country’s major grains and oilseeds.
While demand and activity is slowly ramping up for the fall cattle run, feed grain prices are currently in decline, said a Lethbridge, Alta.-based trader.
Chicago Board of Trade wheat futures ended higher on Tuesday after falling to a five-year low on abundant global supplies. Corn also higher, while soybeans end down.
The Western Producer Markets Desk provides daily updates on agricultural markets, with recent video commentary including looks into canola, wheat, cattle and feed grains.
Chicago | Reuters — U.S. soybean futures rose for a second straight day on Wednesday on expectations that U.S. harvest yields will be lower than the latest government forecast and on limited sales by farmers awaiting news from U.S.-China trade talks and details of government aid. Corn followed soybeans higher as an expected yield forecast […] Read more
Corn and soybean futures at the Chicago Board of Trade were showing some strength during the first week of October, despite seasonal harvest pressure keeping a lid on the upside.