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According to analysts, both companies benefited from good oilseed and corn processing margins and readily available supplies of grain to trade, process and ship overseas as lofty prices encouraged farmers to sell more crops. | Screencap via adm.com
Crop Management, Markets, News

ADM, Bunge to post solid results despite Hurricane Ida disruptions

CHICAGO, Oct 25 (Reuters) – Global agribusiness companies Archer-Daniels-Midland Co and Bunge Ltd likely turned in solid third-quarter earnings despite weeks of suspended export shipments at the top U.S. grains outlet after Hurricane Ida, analysts said ahead of earnings releases this week. Both companies benefited from good oilseed and corn processing margins and readily available […] Read more
The Port of Los Angeles and the port at Long Beach, California, account for 40 percent of all U.S. imports by ship. | Reuters/Mike Blake photo
Markets

L.A. port goes 24/7 to fight backlog

Clogged state of North American ports has outraged farmers as exports are delayed and containers remain hard to find

The United States government has aggressively moved to unclog a backlog of ships and containers out of U.S. ports. While farmers will benefit, it was the pain being felt by American consumers, and fear of a widespread Christmas grinching because many products would not be deliverable by Christmas, that drove U.S. President Joe Biden to […] Read more
All macro-nutrients are in short supply for a variety of reasons, resulting in the highest fertilizer prices in history. | File photo
Markets

Supply chain problems contribute to fertilizer worries

Farmers urged to soil sample as much as possible so they have a good understanding of what they will need next spring

Matt Conacher has important advice for western Canadian farmers. “Over the next few months buy a good portion of your fertilizer needs and, if you can, bring it to farm to assure your supply,” said the senior manager of fertilizer with Federated Co-operatives Limited. All macro-nutrients are in short supply for a variety of reasons, […] Read more
The U.S. Department of Agriculture estimates China produced a record 136.9 million tonnes of wheat this year, but there was above-average rainfall in key production areas during the last few months of the growing season. | Reuters/Tingshu Wang photo
Markets

Wheat prices expected to peak this winter

Possible quality problem in China may be driving extremely tight supply and demand situation for high protein product

The tightness in high protein wheat markets bodes well for spring wheat prices, but farmers might have to wait until mid-winter to see the peak, says an analyst. Brennan Turner, founder of the crop marketing hub, Combyne, said this year is reminiscent of 2007-08. Canada had a similar disappointing level of spring wheat production back […] Read more
Last year’s La Nina contributed to a cascading series of problems that delayed soybean seeding in Brazil and slashed the country’s second corn crop. A repeat of bad weather this year could support corn and soybean values during the North American winter and spring, which should also help keep wheat and canola prices elevated. | Reuters/Jose Roberto Gomes photo
Markets

Repeat of La Nina raises risks for South American crops

It looks like we are in for a second consecutive La Nina year, which means a greater risk that South America will see crop-limiting weather. The United States Weather Service last week said the La Nina has reformed and there is an 87 percent chance of it continuing through the December-to-February period. Good production from […] Read more
There are easily available ways farmers can lock in November 2022 prices that leave them essentially free from risk, while securing prices for crops that are still near historic highs. | File photo
Markets

Do not neglect options in forward-pricing decisions

Today’s market should tempt farmers to lock in prices for some of the 2022-23 crop. Instead, last year’s experience is tempting thousands of growers to avoid pricing anything until the entire crop is in the bin a year from now. It’s understandable that farmers don’t want to expose themselves to nightmarish contract shortfalls that have […] Read more
Randy Mittelstaedt, head of market insight with R.J. O'Brien, said the renewable diesel sector will be a huge source of demand for soybean oil in four or five years, but probably not as big a factor this year as people were anticipating. | Reuters photo
Markets

Smoking hot U.S. soybean oil prices cool off

The premium of U.S. soybean oil to South American oil that reached nearly $500 per ton in June is now at $90 per ton

United States soybean oil prices have cooled off from their smoking hot summer highs. Prices that topped 70 cents U.S. per pound in June were around 60 cents as of mid-October due to lower-than-anticipated demand, says an analyst. “We’re in an interesting situation with the U.S. soybean oil balance sheet, there’s no doubt about that,” […] Read more
Markets

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 prices steady Alberta direct cattle sales saw moderate volume cash trade last week, and prices were […] Read more
Markets

WP livestock report

Hogs The U.S. national live price average for barrows and gilts was $52.69 Oct. 15, down from $54.71 Oct. 8. U.S. hogs averaged $67.33 on a carcass basis Oct. 15, down from $69.26 Oct. 8. The U.S. pork cutout was $101.32 per hundredweight Oct. 15, down from $106.99 Oct. 8. The estimated U.S. weekly slaughter […] Read more

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