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Canola up on Statistics Canada production estimates

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THE ICE Futures Canada canola market posted modest gains in the wake of Tuesday’s crop estimates compiled by Statistics Canada, while U.S. corn futures slid to a one-week low and soybean futures lost ground on Tuesday. Statistics Canada pegged this year’s canola crop production at just over 17 million tonnes, which was below what most analysts had been expecting. Last year, Canada produced 17.2 million tonnes. Gains in Malaysian palm oil and crude oil helped underpin the market. The November contract seems to have found support at the C$470 per tonne mark. However, declines in Chicago Board of Trade soybeans were bearish for values. The Canadian dollar was stronger…
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More CME live cattle selling on weaker cash price outlook

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CHICAGO, Aug 23 (Reuters) - Chicago Mercantile Exchange live cattle futures' losing streak stretched to a seventh consecutive session on Tuesday in anticipation of softer cash prices by Friday, traders said. August live cattle ended down 0.175 cent per pound to 113.250 cents. Most actively traded October closed 0.625 cent lower at 109.725 cents. Bids for market-ready, or cash, cattle surfaced in Texas and Kansas at $115 per cwt with sellers asking more than $120, said feedlot sources. Last week, cash cattle in the U.S. Plains moved at mostly $117 to $118 per cwt.. Investors believe packers will balk at spending more for supplies given current futures prices and tepid wholesale…
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Irrigation projects receive funding

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A $1 million grant program was announced today by the Alberta and federal governments for use on irrigation projects. A joint news release says the grants “will provide funding to help irrigation districts and irrigators plan and develop tools that will enhance innovation and improve efficiency of Alberta’s irrigation systems.” The money will be channelled through Growing Forward 2. The release did not provide specifics on grant eligibility. Alberta’s irrigation system has about 8,000 kilometres of canals and pipelines and provides water to about 1.4 million acres. It also supplies towns, villages, industries and processors. “Modern and reliable irrigation is…
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Canola up on expectations of StatsCan report

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ICE Canada canola on Monday reached five-week highs on its most-active contract, due to short-covering ahead of Statistics Canada's first production estimates of the year. Statistics Canada will report Tuesday, while a Reuters trade survey predicts the Canadian canola crop to be second-largest ever. November canola added $1.30 at $470.50 per tonne, January canola gained $1.50 at $477, while November-January canola spread traded 2,813 times. Soybean futures on the Chicago Board of Trade rose Monday, with the benchmark November contract hitting a one-month high on export demand for U.S. supplies, traders said. CBOT November soybeans settled up 11-1/4 cents at US $10.15-3/4…
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Scouts find subpar corn yields, big soy pod counts in South Dakota

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EPIPHANY, S.D., Aug 22 (Reuters) - Average corn yields in southeastern South Dakota were below average as signs of growing-season stress were evident in the crop, but soybean yield potential was robust, scouts on an annual crop tour found on Monday. Missing grain on the ends of corn ears, known as "tipback" and an indication of dryness and excess heat during pollination, brought down overall yield projections, scouts said on the first day of the Pro Farmer Midwest Crop Tour. "It is obvious that they went through some stress," said Chip Flory, a leader on the tour. "The corn crop is lacking up here." Corn yields were pegged at 141.4 bushels per acre on average, based on five field…
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LIVESTOCK-CME live cattle futures slump 6th straight day

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CHICAGO, Aug 22 (Reuters) - Chicago Mercantile Exchange live cattle futures fell for a sixth day in a row on Monday, pressured by supply worries implied by last Friday's U. S. Department of Agriculture monthly Cattle-On-Feed report, traders said. The report showed 2.0 percent more cattle placed in U.S. feedlots in July compared to a year ago, which exceeded most analysts' estimates. August live cattle ended down 0.125 cent per lb to 113.425 cents. Most actively traded October closed down 0.100 cent to 110.350 cents. CME live cattle declined after Friday's report, but not as much as some had expected because of futures' discounts to the cash market, said Oak Investment Group…
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Canaryseed carry-out stocks most likely underestimated

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WINNIPEG, Aug. 19 (CNS Canada) – Canaryseed carry out might be 10 times what Agriculture Canada pegged it at, says a producer and industry leader. Ending stocks for the recently finished 2015-16 crop year are currently estimated at only 5,000 tonnes, according to the July Agriculture Canada Outlook for Principal Field Crops report. However, that number is way lower than it should be, according to David Nobbs, general manager of Canpulse Foods and current chair of the Canaryseed Development Commission of Saskatchewan. He also farms the crop. “I say (carry-out) is 50,000 tonnes, they’re completely wrong…because marked product is coming to market and we won’t have harvest for at…
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More cattle entered U.S. feedlots in July than anticipated –

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By Theopolis Waters CHICAGO, Aug 19 (Reuters) - Cattle placed in U.S. feedlots in July rose two percent compared to a year earlier, the U.S. Department of Agriculture said on Friday, which topped most analysts' estimates. Feedlot supply on Aug. 1 was 10.165 million head, up two percent from just over 10 million a year ago. Analysts, on average, had forecast an increase of 1.4 percent. Cheaper feed lowered input costs for feedlot operators, analysts said, compelling some to buy more young cattle to fatten for sale to processors. Don Roose, an analyst with U.S.Commodities, also noted that the number of cattle placed in feedlots typically picks up in July before tapering off around…
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Market wrap: Canola edged up $7.80 on week

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Canola futures edged slightly higher Friday on a weaker loonie and talk of modest export business. Gains were held in check by mostly good harvest weather and ideas that the canola crop will be large. November canola closed at $469.20, down 70 cents. STATSCAN FORECASTS Commodity News Service polled analysts who had a range of canola production forecasts from 15.9 million to 20 million tonnes, with the majority at more than 18 million tonnes. Last year’s crop was 17.23 million. Statistics Canada releases its survey on crop production on Aug. 23. Click here for story…
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Industry braces for potentially big StatsCan crop estimates

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6-LENTIL HARVEST Winnipeg, Aug. 19 – Large crops are in Western Canadian farmers’ fields ahead of this year’s harvest, but just how big remains to be seen as industry participants await Statistics Canada’s first survey results of the crop year set for release on Aug. 23. Pre-report trade estimates on canola production range from 16 million to 20 million tonnes, with the majority of guesses coming in at moe than 18 million tonnes. That compares with the 17.231 million tonnes grown in 2015-16. Earlier in the growing…
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