Markets
It’s great to move on from this crisis and focus on the next ones, but until we’ve resolved the problems that allowed it to develop in the first place, we’re still just one set of circumstances away from going through it again.
Markets
Brazil’s corn crop poised to drive down prices
Record soybean yields from the South American ag giant, along with banking and import woes, are rattling markets
This will be a momentous year in the corn market, says analyst Todd Hultman. Brazil is poised to export 53 million tonnes of the crop in 2022-23, compared to 45 million tonnes for the United States. “They are easily passing us on the export total, and that’s the first time in history we have seen […] Read more
Emerging canola processing at home will affect exports
"There will be some decline in exports," said Justin Shepherd, senior economist with Farm Credit Canada. He added there will be a chance to increase meal and oil exports, although much of the oil will be diverted to biofuel markets in North America.
Markets so far shrugging off reports of flooded Chinese wheat fields
China's prime wheat-growing region received a deluge of rain at the end of harvest. Reuters reports that fields of ripe wheat in Henan province were flooded the week ending May 28. That province produced 28 percent of last year's wheat crop.
Bunge, Viterra merger would create global ag trading giant
Sources last week said Bunge and Glencore Plc-owned Viterra were in talks for a potential mega deal that would further consolidate global agriculture trading and bring Bunge closer in global scale to leading rivals Archer-Daniels-Midland Co. and Cargill Inc.
WP livestock report
Hogs The U.S. national live price average for barrows and gilts May 26 was $62.43; on May 18 it was $64.12. U.S. hogs averaged $75.69 on a carcass basis May 26, down from $78.98 on May 18. The U.S. pork cutout was $82.20 per hundred weight May 26, down from $83.73 on May 18. The […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s 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 record shattered Dressed sales were reported from $397-$400 per hundredweight last week, shattering the old record […] Read more
Chickpea price here determined by Turkey, Russia crop
Canadian kabuli chickpea prices in 2023-24 will largely depend on what happens in Russia and Turkey, says a processor of the crop. Colin Young, manager of Midwest Investments, a chickpea cleaner in Moose Jaw, Sask., said those are Canada’s two top competitors and global kabuli chickpea supplies are tight. “If one of those two countries […] Read more
Analysts see promise in this year’s growing season
North America’s spring wheat crop is late getting in the ground, but production prospects still look promising, say analysts. Farmers in the United States were 64 percent done seeding as of May 21, according to the U.S. Department of Agriculture. That is below the five-year average of 73 percent. Growers in Saskatchewan were 68 percent […] Read more
Grain trader Viterra in talks to merge with rival Bunge – source
Global grain trader Viterra is in talks to merge with U.S. rival Bunge Ltd, according to a person familiar with the matter. There is no certainty that Viterra, part-owned by Switzerland-based mining and trading giant Glencore, will be able to reach an agreement on the terms of a deal, the source said, requesting anonymity as […] Read more
