Markets
The timing couldn’t have been better planned to vex months of painstaking work developing reasonable expectations for the world’s agricultural markets. Not that that’s what Russian ruler Vladimir Putin was thinking when he sent his military deep into Ukraine Feb. 23, hammering his weak neighbour, causing a European diplomatic crisis and sending the world’s markets […] Read more
Markets
Dry weather threatens U.S. hard red winter wheat crop
Global wheat traders are likely so concentrated on assessing the agricultural implications of Russia’s attack on Ukraine that other issues are on the back burner, but the drought in the western United States might become bigger news in a month or two. You can’t make solid predictions about a hard red winter wheat crop when […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was $72.64 Feb. 25. It was unavailable Feb. 18. U.S. hogs averaged $87.78 on a carcass basis Feb. 25, up from $86.78 Feb. 18. The U.S. pork cutout was $113.32 per hundredweight Feb. 18, down from $109.96 Feb. 11. The estimated U.S. weekly slaughter […] 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. Alberta fed cattle prices moved up again as February drew to a close. Heifers were up $2.37 […] Read more
Australian canola production makes huge jump
Australia’s 2021-22 canola crop shattered the previous record. The Australian Bureau of Agricultural and Resource Economics and Sciences estimates the country produced 6.4 million tonnes of the oilseed, destroying last year’s record of 4.5 million tonnes. “It certainly is an anomaly and quite unexpected,” Australian Oilseeds Federation executive officer Nick Goddard said in an email. […] Read more
U.S.-China trade relations called increasingly ‘difficult’
The agricultural trade relationship between the United States and China is fragile, according to the U.S. Trade Representative. “(It is) extremely difficult and getting more difficult,” Katherine Tai told U.S. agriculture secretary Tom Vilsack in a sit-down interview at the USDA’s 98th Annual Agricultural Outlook Forum. Former U.S. president Donald Trump signed the Phase One […] Read more
Renewable diesel sector faces a wall
The renewable diesel industry has a looming feedstock problem, says an analyst. The Energy Information Administration is forecasting 11 to 19 billion litres of renewable diesel capacity in the United States by 2024, up from 3.8 billion litres today. Using the mid-range of the forecast, that is 15 billion litres of capacity that will be […] Read more
Grain prices to drop but stay higher than average
Wheat, soybean and corn prices are expected to drop in 2022-23 but will remain well above their historic averages, according to the United States Department of Agriculture. It is forecasting a season-average farm price of $6.80 per bushel for wheat, down 50 cents per bu. from 2021-22 levels. That is due to an 83 million […] Read more
Record U.S. ag exports expected
The U.S. Department of Agriculture forecasts another record year of U.S. agricultural exports in 2022. The country shipped out US$177 billion worth of agricultural commodities in 2021, an 18 percent increase over the previous year. The forecast for 2022 is for a new record of $183.5 billion. “This, ladies and gentlemen, is unprecedented, this is […] Read more
South American soybeans in trouble
Estimates for the continent’s soybean crop continue to plummet because of drought, which bodes well for oilseed prices
The U.S. Department of Agriculture’s “massive” reduction in its South American soybean crop production estimate wasn’t drastic enough, according to analysts. And that bodes well for soybean and other oilseed prices. The USDA slashed its forecast for the region to 185 million tonnes in its February World Agricultural Supply and Demand Estimates (WASDE) report, down […] Read more
