Markets
U.S. Trade Representative says former administration’s policies will remain in place but also vows to apply more pressure
The United States plans to keep pressure on China to conform to world trading standards. However, in an Oct. 4 speech, U.S. Trade Representative Katherine Tai offered few details on how she thinks China can be forced to change. “It is increasingly clear China’s plans do not include meaningful reforms to address the concerns that […] Read more
Markets
Farmers face impact of cost-cutting at country’s railways
Editor’s Note: This column should have noted that the CP takeover of KCS has not been completed and isn’t expected to receive regulatory approval until the second half of 2022. Until approval, the two companies will continue to operate separately. Canada’s two main railways, Canadian National Railway and Canadian Pacific Railway, hauled a lot of […] Read more
Canola flies away from its relationship with soybeans
Canola prices have soared this season and have mostly divorced from their usual connections with the soybean complex. It’s no surprise November canola futures last week closed at a contract high of about $927 per tonne given an estimated national average yield of only 25.3 bushels and acres, the lowest since 2002 due to drought […] Read more
U.S. lawmakers rethink packer concentration
House of Representatives ag committee hears that building more slaughter plants would be hampered by labour shortage
The battle over packing industry concentration recently played out in front of the U.S. Congress. The House of Representatives agriculture committee heard comments from U.S. ag secretary Tom Vilsack, packing industry representatives and economists on the role of government in meat markets and the beef supply chain. The battle has been going on for months […] Read more
Wheat prices expected to peak this winter
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, chief executive officer of the crop marketing hub Combyne, said this year is reminiscent of 2007-08. Canada had a similar disappointing level of spring wheat […] 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. Stable fed price Western Canadian fed prices have gone sideways for the past six weeks with prices […] Read more
WP livestock report
Hogs The U.S. national live price average for barrows and gilts was $54.71 Oct. 8, down from $58.42 Oct. 1. U.S. hogs averaged $69.26 on a carcass basis Oct. 8, down from $72.92 Oct. 1. The U.S. pork cutout was $106.99 per hundredweight Oct. 8, up from $113.39 Oct. 1. The estimated U.S. weekly slaughter […] Read more
Iran buying record volume of wheat after worst drought in 50 years – sources
LONDON/MOSCOW/HAMBURG, Oct 13 (Reuters) – Iran needs to buy a record 8 million tonnes of wheat in the current season, Iranian industry sources said, after its domestic crop was hit by drought, while the jump in imports will coincide with high global grain prices adding to pressures on the country’s finances. Bread is a staple […] Read more
Bayer blasts ‘unscientific’ rejection by Mexican regulator of GMO corn permit
MEXICO CITY, Oct 8 (Reuters) – Bayer is evaluating its legal options after Mexican health regulators for the first time rejected a GMO corn permit it was seeking, the German pharmaceutical and crop science giant said in a statement to Reuters on Friday, blasting the decision as “unscientific.” Reuters reported late last week that regulator […] Read more
Kazakhstan bets on construction, agriculture as growth drivers
NUR-SULTAN, Oct 12 (Reuters) – Kazakhstan hopes that foreign investment and a construction boom will help its economic growth accelerate to more than 5 percent by 2023, economy minister Aset Irgaliyev told Reuters. The oil-exporting Central Asian nation’s economy is expected to grow 3.7-4.0 percent this year, Irgaliyev said in an interview. Next year, the […] Read more
