Markets
UPDATE: December 8, 2023 – 1415 CST – for the latest version of this developing story, click here. SASKATOON — India is temporarily dropping its prohibitive import duty on peas. The 50 percent duty is being removed starting Dec. 8, 2023, through March 31, 2024. “This is the first time in six years that we […] Read more
Markets
Farming requires an iron gut for taking on financial risks
Farming wasn’t always a capital-intensive business, at least not like it is today. With cheap land and simple machinery and structures, managing a farm was mostly about growing the crop and raising the livestock. Today’s farm economics are far different, with high-priced land, costly machinery and pricey management systems and service providers consuming a much […] Read more
Inflation fight nears end but interest rate cuts unlikely
The evidence is mounting that the fight against inflation is being won without pushing major economies into recession. The hoped for “soft landing” appears to be within grasp. Prices are still going up, but the rate of increase has fallen dramatically. It might take a while to reach central banks’ desired goal of two percent, […] Read more
Canadian crop production revised higher, but still down on year
Production estimates for most of Canada’s major grain, oilseed and pulse crops were revised higher by Statistics Canada in its first survey-based estimates for the 2023 growing season, released Dec. 4. Production levels were still down for the year for many crops, as dryness across the Prairies cut into yields. The survey was conducted from […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattle Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Fed prices struggle As the year winds down, excitement usually builds around the fed market as prices […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts Dec. 4 was $44.64; on Nov. 27 it was $46.49. U.S. hogs averaged was $55.53 on a carcass basis Dec. 4, down from $58.85 on Nov. 27. The U.S. pork cutout was $84.43 per hundredweight Dec. 4, down from $88.75 on Nov. 27. The […] Read more
Analysts predict larger canola carryout
SASKATOON — Analysts think Canada’s 2023-24 canola carryout will be way bigger than the government is forecasting. Exports have been sluggish this year, trailing last year’s pace by 18 percent. Marlene Boersch, managing partner of Mercantile Consulting Venture, has dropped her export number to 7.5 million tonnes, well below last year’s 7.95 million. She has […] Read more
Urea forecast suggests short-term price declines, but recover later
SASKATOON — The short-term outlook for urea calls for falling prices but the medium-term forecast is the opposite, according to Argus Media. “Prices are coming under pressure,” Sophie Mason, manager of nitrogen analytics with the firm, said during a recent webinar. Limited demand is going to be the key market factor over the next couple […] Read more
Canola caught in the doldrums, but a rally could break out
Farmers have seen their future earnings bleeding out for months. Anybody with unpriced canola has seen about a 20 percent drop in futures values since July. Cash prices are, of course, lower in this sort of environment. It’s a bad way to enter winter and a puzzling one for some. “It’s a bit of a […] Read more
Weather extremes in South America bedevil soybean forecasting
It is hot in Brazil, so hot that pop star Taylor Swift had to postpone concerts in Rio de Janeiro last week, after a first concert where the heat might have contributed to one fan’s death. This event, that occurred as the heat index (accounting for humidity) in the city approached a staggering 58.5 C, […] Read more
