Markets
Hogs The U.S. national live price average for barrows and gilts July 25 was not available. U.S. hogs averaged $117.19 on a carcass basis July 25, down from $118.72 July 15. The U.S. pork cutout was $127.82 per hundredweight July 25, up from $122.18 July15. The estimated U.S. weekly slaughter to July 23 was 2.285 […] Read more
Markets
WP livestock report
Ukrainian farmers struggle as war continues
A tenuous agreement allowing some of Ukraine’s Black Sea ports to start shipping grain could be a lifeline for the country’s farmers. The war caused shipping costs to soar to US$160 to $180 per tonne from pre-war levels of $35 to $40 per tonne, said Mykola Gorbachov, president of the Ukrainian Grain Association. Farmers are […] Read more
Bunge lifts profit forecast, but misses Wall Street Q2 expectations
July 27 (Reuters) – Bunge Ltd raised its full-year profit forecast on Wednesday, and posted a 15 percent jump in second-quarter 2022 adjusted profit, as the global farm commodities merchant benefited from higher demand and tighter supplies of commodity grain crops. But the Missouri-based firm’s results fell short of Wall Street expectations for the reported […] Read more
Grain trader ADM’s profit jumps 74 percent on strong global demand
July 26 (Reuters) – Global grain trader Archer-Daniels-Midland Co (ADM) ADM.N reported a 74 percent rise in second-quarter profit on Tuesday, benefiting from high demand for grains and tighter supplies following Russia’s invasion of Ukraine. Shares jumped 3 percent in pre-market trading. Grain supply-chain middlemen like ADM and its peers have seen increased demand for […] Read more
UN: Russia-Ukraine grain deal maybe few weeks
ISTANBUL, Turkey (Reuters) — The United Nations expects a deal to resume Ukrainian grain exports through the Black Sea to be fully operational in a few weeks and restore shipments to pre-war levels of five-million tonnes a month, two senior UN officials said July 22. Ukraine, Russia, Turkey and the UN signed the deal in […] Read more
Canadian wheat estimate disputed
The U.S. Department of Agriculture is projecting a 34 million tonne crop, but a Canadian market analyst is doubtful
The biggest surprise in the U.S. Department of Agriculture’s latest World Agricultural Supply and Demand Estimates report was its Canadian wheat production estimate, says an analyst. “USDA is wildly optimistic at 34 million tonnes for Canada,” said MarketsFarm analyst Bruce Burnett. That is one million tonnes higher than its June forecast and 57 percent higher […] Read more
Canola may be looking at higher trading range
Analyst says it’s still not clear what the range will be, but the short-term floor is expected to be around $800 per tonne
The canola market is in the process of shifting to a new trading range, says MarketsFarm analyst Mike Jubinville. From the early 1990s to the early 2000s canola futures traded in the range of $250 to $500 per tonne. In the post-biofuel era it shifted higher to the $400 to $700 range. Jubinville believes the […] Read more
Indonesian palm oil exports drive down veg oil prices
Indonesia’s palm oil policies are having a “profound impact” on world vegetable oil prices, according to the U.S. Department of Agriculture. The country recently repealed its export ban on the commodity and implemented the Export Acceleration Program. It is making more palm oil available on the world market by reducing obligations to supply the domestic […] Read more
Weather, currency and Ukraine dominate market news
Grain markets are focused on three issues: the potential for extreme summer heat, changes in interest rates and currency exchange and hopes that Ukraine will be able to resume crop exports by sea. In the U.S. Midwest and Canadian Prairies the cooler than normal weather is shifting to hotter than average conditions for the rest […] Read more
Populist politics can have negative impact on debt crisis
Crop and other commodity markets are way off their highs, but don’t expect the commodity bull market to go away soon or for its impacts to fade. Prices for food, fuel and other indispensable commodities are still high enough to tip numerous nations into financial trouble, economic hardship, hunger, woes and political strife. A lot […] Read more
