Markets
Ukraine says Russian inspections are delaying grain shipments, and it’s not certain the deal will be extended this month
Joe Glauber has a good idea what will happen to grain prices if the Black Sea Grain Initiative is not renewed. The former chief economist of the U.S. Department of Agriculture noted that world corn prices increased by six percent and wheat prices rose by three percent when Russia temporarily suspended the agreement in November […] Read more
Markets
Falling fertilizer costs benefit corn in U.S. planting plans
Several factors, including falling input costs, should encourage American farmers to increase corn plantings this spring, according to the U.S. Department of Agriculture. But actual seeding doesn’t begin for almost two months so weather and other issues could alter the seeding mindset between now and then. Crop prices fell following the USDA Outlook Conference where […] Read more
Better visibility would leave drama to sports and novels
Here’s a line you could hear from any grain trader dealing with agricultural statistics, government reports or murky public or private markets and still trying to trade on them: “This is the best data we’ve got. It’s not very good, but it’s the best we’ve got.” I’ve heard that dozens of times over the years […] Read more
Soybean sector hits the road with trade missions
Twenty-six industry representatives met more than 220 current and potential customers in three Asian countries
Soy Canada has completed a marketing mission to Japan, Malaysia and Vietnam, where it shared information about Canadian soybeans and promoted them to potential customers in those countries. The mission was Soy Canada’s first since 2019. They were suspended in early 2020 due to concerns over COVID-19. “There’s nothing like being face-to-face to share and […] Read moreWP livestock report
Hogs The U.S. national live price average for barrows and gilts Feb. 24 was $59.58, up from $59.39 on Feb. 16. U.S. hogs averaged $77.68 on a carcass basis Feb. 24, down from $76.82 Feb. 16. The U.S. pork cutout was $85.35 per hundredweight Feb. 24, up from $83.06 Feb. 16. The estimated U.S. weekly […] 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. Brighter outlook seen Negative and unpredictable events over the past two years left many in the industry […] Read more
Crop prices to drop but remain high
The United States grain and oilseed price outlook for 2023 is bearish, according to the U.S. Department of Agriculture. “We expect some price moderation with larger supplies,” USDA economist Andy Sowell told delegates attending the 99th Annual Agricultural Outlook Forum. But prices will likely remain elevated compared to historical levels. The season-average farm corn price […] Read more
Soybean crush margins plummet in wake of EPA ruling
There is plenty of uncertainty in world soybean markets, says an economist. Much of the confusion stems from a Dec. 1 announcement by the U.S. Environmental Protection Agency. The EPA set its proposed renewable volume obligation for biomass-based diesel at 2.82 billion gallons for 2023, rising to 2.95 billion gallons by 2025. The proposal was […] Read more
Market worries about Black Sea grain corridor
Joe Glauber has a good idea what will happen to grain prices if the Black Sea Grain Initiative is not renewed. The former chief economist of the U.S. Department of Agriculture noted that world corn prices increased by six percent and wheat prices rose by three percent when Russia temporarily suspended the agreement in November […] Read more
CME cattle set contract high after Brazil halts beef exports to China
CHICAGO, (Reuters) – Chicago Mercantile Exchange live cattle futures reached a contract high on Thursday amid hopes that Chinese importers will buy more U.S. beef after rival supplier Brazil suspended shipments to China, analysts said. Brazil said it would halt beef exports to China, the main destination for its overseas shipments, after confirming a case […] Read more
