Daily news

Wheat and canola futures fall on favourable weather

No Comments

It was a slightly down day for most crop futures Monday, but wheat contracts took a significant knock down. While soybean and corn futuresfell only a few cents per bushel, Chicago and Kansas May wheat contracts fell by about 10 cents. Minneapolis spring wheat hung on a little better, falling about five cents. Canola futures fell five to seven Canadian cents per bushel. U.S. wheat exports continue to be weak. Also, growing conditions for fall seeded wheat around the world are good, providing little to alleviate the feeling that supply will continue ample. If northern hemisphere crops come out with little winter kill and good spring conditions it will become even harder to reduce…
[Read more]

LIVESTOCK-CME live cattle futures score 10-month high on beef demand

No Comments

CHICAGO, Feb 27 (Reuters) - Chicago Mercantile Exchange live cattle futures reached their highest since late April 2016, driven by short-covering amid brisk wholesale beef demand, said traders. They said speculators bought deferred cattle contracts after Friday's U.S. Department of Agriculture monthly Cattle-On-Feed report proved less bearish than some had anticipated. February live cattle, which will expire on Tuesday, closed 1.625 cents per pound higher at 125.375 cents. Most actively traded April ended 0.550 cent higher at 115.500 cents. The morning's choice wholesale beef price surged $2.10 per cwt to $201.06 from Friday. Select cuts climbed $1.61 to $197.09, the USDA…
[Read more]

Ukraine to start 2017 spring grain sowing in a few days

No Comments

KIEV, Feb 27 (Reuters) - Ukrainian farmers will start the 2017 spring grain sowing in a few days, expecting to sow a total of 7.2 million hectares of various spring grains, the agriculture ministry said on Monday. Last year, Ukraine, the global third-largest grain exporter, started spring sowing on Feb. 24, taking advantage of favourable weather. Farmers sowed around 7.0 million hectares of spring grain last year and the ministry said this year's sowing area could rise to about 7.2 million hectares. It said the area under spring and winter grains would total 14.4 million hectares this year. Ukraine harvested a record 66 million tonnes of grain in 2016, including 28 million…
[Read more]

U.S. Jan feedlot cattle placements notch three-year high

No Comments

By Theopolis Waters CHICAGO, Feb 24 (Reuters) - The number of cattle placed into U.S. feedlots in January rose 11 percent from a year earlier, the U.S. Department of Agriculture reported on Friday, the largest number in three years and nearly matching analysts' average forecasts. Positive January profits for feedlots allowed them to buy more younger cattle for fattening on their way to packers, said analysts. Periods of low cattle prices resulted in an increasing number of heifers landing in feedlots instead of ranchers retaining them to grow their herds. Cattle placed in feedyards last month should come to market beginning in July, which could mean weaker cattle prices this…
[Read more]

Profit-taking pressures cattle futures, boosts hogs

No Comments

By Michael Hirtzer CHICAGO, Feb 24 (Reuters) - Chicago Mercantile Exchange live cattle futures were mostly lower on Friday while lean hog futures gained sharply as investors took profits in each livestock contract, traders and analysts said. Cattle fell after Thursday's nearly four-week high and hogs rebounded from a roughly two-month low. "It's just an end-of-the-week rally," Rosenthal Collins broker James Burns said of hogs. CME April lean hogs settled 1.450 cents, or 2.4 percent, higher at 68.025 cents per pound. The contract still shed almost four percent for the week, the contract's biggest weekly loss since December. Weaker prices both for U.S. cash hogs and wholesale…
[Read more]

Prairie corn acres influenced by spring conditions

No Comments

By Dave Sims, Commodity News Service Canada WINNIPEG, Feb. 24 (CNS) – Record yields for Manitoba corn last year raised the attractiveness of the commodity for many growers, however the potential for a delayed spring this year could dampen that enthusiasm, according to one industry-watcher. “If we get into a delayed planting situation we may see producers switch their corn acres into another shorter-season crop type,” said Pam de Rocquigny, general manager of the Manitoba Corn Growers Association. In 2016, yields in Manitoba hit a record 146 bushels an acre, according to Manitoba Agriculture. “It makes us wonder what could have been if we had ideal growing conditions, as…
[Read more]

Friday crop market wrap – May canola falls 1.6 pct on week

No Comments

Canola and soybean futures closed Friday little changed as the market awaits new news to trade on. Chicago wheat was the weak man of the grains complex today, falling more than one percent, but spring wheat edged higher. Crop futures prices generally drifted lower over the week as expectations rose that South America will produce large crops and that the U.S. will seed large amounts of soybeans and corn in the coming spring. Big funds are trimming down net long positions they built up in most of the grains over the last few weeks. WATCH WEEKLY VIDEO MARKETS UPDATE May…
[Read more]

Hogs extend losses on cash expectations; cattle firm

No Comments

By Michael Hirtzer CHICAGO, Feb 23 (Reuters) - U.S. lean hog futures fell more than one percent on Thursday, extending losses to their third straight session, on pressure from expectations for declines in Midwest cash hog markets, traders and analysts said. Lower wholesale pork prices this week, especially pork belly cuts, also weighed on futures and squeezed packer profit margins. "The (hog) futures market has been trying to say the cash market is potentially coming down, and we're seeing that," said Top Third Ag Marketing broker Craig VanDyke. CME April hogs settled 1.175 cents lower at 66.575 cents per pound, the lowest since Dec. 30. The nearly six percent decline in the…
[Read more]

Canola drops one percent with falling soy, USDA acreage forecast

No Comments

Soybean and soy oil futures fell about one percent Thursday helping to pressure canola lower as well. The most-traded contract, May, ran into technical weakness, falling below its 50- and 100-day moving averages. May closed at $517.20 per tonne, down $6.30. New crop November closed down $7.40 at $496.30. It was the first time it closed below $500 since Feb. 2. CLICK HERE TO WATCH WEEKLY VIDEO CROP MARKET UPDATE The U.S. Department of Agriculture released its economists’ forecasts for spring U.S. corn and soybean acreage today and the numbers were within the range of…
[Read more]

Cash-rich Maple Leaf Foods sees abundant U.S. deal opportunities

No Comments

By Rod Nickel Feb 22 (Reuters) - Canadian meat packing company Maple Leaf Foods is hunting for acquisitions in the United States, after years spent upgrading old factories and shedding business lines, its chief executive officer said on Wednesday. Maple Leaf, which reported on Wednesday its profits doubled in the fourth quarter, sees growth opportunities from meat produced humanely and without antibiotics, and from snack foods and alternative proteins made from soy and other plants. On Tuesday, the company said it would buy U.S.-based Lightlife Foods Inc, a manufacturer of plant-based protein foods, for $140 million. It was Maple Leaf's first material deal since 2004, and…
[Read more]
Load more articles
x3x3x3x3x3x3