Daily news

Canola, soybean price surge not a long-term positive sign

No Comments

The good news for canola was that soybean prices soared Friday, pulling up its sister crop in the process. The bad news was that some of the Friday surge was due to short-covering by traders who raked-in profits through July by betting against soybeans. Vegetable oil crop futures had a terrible month, and as traders closed out their July accounts before the weekend, there existed some hope that crop futures might have found or be finding a bottom. Recent days have shown the markets unwilling to hammer down prices further at this point. United States export data suggests foreign buyers have begun to see U.S. beans as cheap and have stepped into the market with increased…
[Read more]

Alberta releases latest crop report – July 29, 2016

No Comments

Alberta releases latest crop report SOUTH Harvest has started on winter wheat and field peas in eastern areas. Crops are rated 69 percent good or excellent. Surface soil moisture is rated 70 percent good or excellent; sub soil at 59 percent, pastures at 50 percent and tame hay at 44 percent. CENTRAL Crop conditions marginally declined to 82 percent good or excellent. Surface and sub soil moisture ratings are about 85 percent good or excellent, with pastures at 81 percent, and tame hay at 75 percent. First cut dryland hay quality is 50 percent good or excellent. NORTHEAST Crop conditions are rated 93 percent good or excellent. Hay quality is rated 65 percent…
[Read more]

LIVESTOCK – CME hogs settle mostly weak on month-end positioning

No Comments

CHICAGO, July 29 (Reuters) - Most Chicago Mercantile Exchange lean hog contracts closed weaker on Friday, after a volatile session highlighted by investors squaring positions on the final trading day of the month, trader said. August hogs finished up 0.125 cent per lb to 68.975 cents. October ended 0.150 cent per lb lower at 59.050 cents and December down 0.075 cent to 54.750. Short-covering and bargain buying at times spiked CME hogs to session highs. Persistent bearish market fundamentals later pared earlier gains. The bulk of cash hogs in the Midwest on Friday morning traded 50 cents per lb lower, said Midwest hog merchants. Friday morning's wholesale pork price, or cutout,…
[Read more]

Sask. releases latest crop report

No Comments

SOUTHEAST Precipitation ranged from 15 to 73 mm, and hail caused significant damage in some areas. Cropland, hayland and pasture topsoil moisture have an average rating of 83 percent adequate. Most crops remain in good condition, but pulses are succumbing to excess moisture stress, and hay quality is 79 percent good. SOUTHWEST Most crop damage was caused by localized flooding, strong winds, lodging and hail. Cropland, hayland and pasture topsoil moisture conditions have an average rating of 87 percent adequate. Hay quality is 66 percent good, and most crops remain in good condition. However, pulse quality downgrade is imminent because of excess…
[Read more]

USDA confirms unapproved GMO wheat found in Washington state

No Comments

Updated: 14:25, CST July 29 (Reuters) - Genetically modified wheat developed by Monsanto Co, and never approved by federal regulators, has been found growing in a Washington state farm field, the U.S. Department of Agriculture (USDA) said on Friday. The discovery of 22 unapproved genetically modified (GMO) wheat plants has prompted an investigation by federal and state investigators - the third such discovery in three years. A farmer found the GMO wheat in a field that has not been planted since 2015. The plants had been identified as being one of Monsanto's experimental varieties "a few weeks ago," a spokesman from the Washington State Department of Agriculture…
[Read more]

Canada June producer prices rise on energy, petroleum products

No Comments

OTTAWA, July 29 (Reuters) - Canadian producer prices rose in June as the cost of energy and petroleum products increased for a fourth month in a row, data from Statistics Canada showed on Friday. The 0.6 percent increase was a touch above economists' expectations for a 0.5 percent gain. Overall, 14 of the index's 21 major components were higher. Energy and petroleum products were the biggest contributor, climbing 3.9 percent due to higher prices for motor gasoline and other fuels. Meat, fish and dairy products also contributed to the month's gain, rising 1.5 percent on higher prices for fresh and frozen pork. The gauge of raw materials prices increased by 1.8 percent on higher…
[Read more]

Wildfires cause Canada’s biggest monthly GDP drop since 2009

No Comments

OTTAWA, July 29 (Reuters) - Canada's economy suffered its biggest one-month contraction in May since March 2009 as wildfires in northern Alberta caused a sharp drop in oil extraction, reinforcing expectations that the economy shrank in the second quarter. Monthly gross domestic product fell 0.6 percent in May, data from Statistics Canada showed on Friday, exceeding economists' expectations for a decline of 0.4 percent. The wildfires that started in May around the Fort McMurray area in Alberta disrupted production in the province's oil sands and forced residents from their homes in what is expected to be the country's costliest-ever natural disaster. As a result, output from the…
[Read more]

Shallow roots potential concern for Manitoba sunflowers

No Comments

Winnipeg, July 28 (CNS Canada) – Sunflower crops in Manitoba are generally in good shape for this time of year, but excess moisture in key growing areas has kept root systems shallow, which could create problems later in the season, says an industry participant. It’s still relatively early for sunflowers, with diseases usually not setting in until late-August or early-September, said Ben Friesen, purchasing manager with Scoular in Winkler. “The fields look good, but they have pretty shallow roots,” said Friesen, adding that heavy winds could do damage if they hit the crops at the wrong time. Sunflower seeded area in Manitoba is down on the year, with Statistics Canada…
[Read more]

Combining begins in drier parts of Alberta

No Comments

Winnipeg, July 28 – Producers in southern Alberta have begun to combine some grain and pulses, according to a farm leader. “Down around Lethbridge and south of it, they had pretty decent moisture so they’ve got good crops. Guys are starting to combine winter wheat now and peas,” said Lynn Jacobsen, president of the Alberta Federation of Agriculture, during an interview on July 27. He said areas southeast of Calgary, such as Vulcan and Enchant, were still dealing with dry soil conditions but north of the city, some had too much moisture. “It varies from part to part but overall, the moisture is now adequate,” he said. It is different story in Manitoba where many areas…
[Read more]

Canola, grains dip on good growing weather, growing production forecasts

No Comments

After two days of gains, canola and soybeans edged lower on Thursday, weighed down by technical selling and generally good growing conditions. Oilseeds were also pressured by a weekly USDA export sales report that showed U.S. soybean sales were less than expected. Wheat and corn sales were within the range of analysts’ expectations. November canola dropped $2.70 at $451.20 per tonne. CROP CONDITIONS Today’s Saskatchewan crop report said the province’s crops were generally in great shape. For canola 36 percent was excellent and 59 percent was good. Pulse crops were suffering a little more than others. The report said lentils were 17 percent excellent, 49 percent…
[Read more]
Load more articles
x3x3x3x3x3x3