Markets
Hogs The U.S. national live price average for barrows and gilts was $80.23, up from $80.12 May 6. U.S. hogs averaged $101.47 on a carcass basis May 13, down from $101.98 May 6. The U.S. pork cutout was $101.17 per hundred weight May 13 down from $104.70 May 6. The estimated U.S. weekly slaughter to […] Read more
Markets
WP livestock report
China lifts Canadian canola restrictions
China has lifted restrictions on importing Canadian canola from Richardson and Viterra after the two Canadian grain giants spent three years in trade purgatory. “This is a positive step forward, restoring full trade in canola with China and ensuring that all Canadian exporters are treated equally by the Chinese administration,” Canola Council of Canada president […] Read more
Diesel prices expected to remain high
There is no reprieve from record-high diesel prices on the horizon, says an analyst. “We likely will see prices sustained at elevated levels for some time,” said Patrick De Haan, head of petroleum analysis with GasBuddy. The average price of farm diesel in Alberta in March was $156.42 per 100 litres, up 54 percent from […] Read more
Wheat prices jump as India export ban adds to supply squeeze
May 16 (Reuters) – International wheat prices jumped on Monday as an export ban by India, the latest country to use trade curbs to counter food inflation, threatened to further squeeze world wheat supply strained by the war in Ukraine. U.S. and European wheat futures climbed by nearly 6 percent, with the Chicago market – […] Read more
‘Fear premium’ drives crop prices higher
Crop prices in the United States would be far lower than today’s levels if they were based strictly on supply and demand fundamentals, says an analyst. The United States Department of Agriculture is forecasting 34.54 million tonnes of U.S. corn ending stocks in 2022-23 or a 9.3 percent ending stocks-to-use ratio. History shows that prices […] Read more
Germany reported considering biofuel reduction
Governments around the world are taking steps to limit oilseed-based biofuel production to keep food price inflation in check. Germany plans to reduce the use of biodiesel produced from oilseed crops like canola, according to numerous reports. EurActiv reports that details of a reduction in Germany’s cap on crop-based biofuels are being discussed between the […] Read more
Russian farmers want quick pea deal with China
CORRECTION – this story has been updated to replace a photo of table peas with the more appropriate dry peas variety. 1525 CST May 12, 2022 Russia’s pea producers have asked their government to intensify negotiations with China on a phytosanitary agreement that would allow trade between the two countries. That could create stiff competition […] Read more
Ukraine faces 35 percent wheat drop
A consensus appears to be emerging about the size of Ukraine’s upcoming wheat crop. The U.S. Department of Agriculture is forecasting a 2022-23 harvest of 21.5 million tonnes, down 35 percent from last year and 23 percent below the five-year average. That is very much in line with a pre-USDA report estimate from French data […] Read more
Lentil acres leave peas in the dust
High lentil prices, low pea yields and poor pea seed quality due to drought are seen as reasons for lentils’ rising popularity
Lentils have overtaken peas as Canada’s top pulse crop. Growers told Statistics Canada they intend to plant 4.49 million acres of lentils this year compared to 3.55 million acres of peas. Lentil acres have been steadily climbing the past three years, while peas have been on the decline. Carl Potts, executive director of Saskatchewan Pulse […] Read more
Ukranian exports will likely take time to recover
Bunge says infrastructure will need to be repaired, seaborne logistics untangled and waters cleared of floating mines
Some analysts have suggested Ukraine’s grain exports would resume in a hurry if there was a ceasefire. But that is not the assessment of the head of one of the world’s largest grain companies, which has significant assets in the country. Bunge Ltd.’s chief executive officer, Greg Heckman, mentioned, during a conference call on the […] Read more
