What in the world is China going to buy from American farmers to live up to the bragging of United States President Donald Trump? China just put on the back burner a plan for a huge increase in ethanol use, so hopes for increased buying of U.S. biofuel or corn are dashed. China’s hog herd […] Read more
Markets — page 332
Canfax report – Jan. 16 – 2020
Direct fed cattle sales were active for the start of the new year. Feedlots aggressively pulled market-ready steer supplies forward, but around half of this week’s trade were heifers. Many were expecting better prices, and the outlook suggests good domestic fed interest. There is a strong fed basis so American interest was cool. Prices were […] Read more
WP livestock report – Jan. 16, 2020
HOGS The U.S. national live price average for barrows and gilts was $38.99 per hundredweight Jan. 10, up from $39.67 Jan. 3. U.S. hogs averaged $50.43 on a carcass basis Jan. 10, down from $50.50 Jan. 3. The U.S. pork cutout was $74.50 per cwt. Jan. 10, up from $74.22 Jan. 3. The estimated U.S. […] Read more
Canola disappearance error found
Grain commission says incorrect reporting by ‘primary licensees’ is behind the significant increase in domestic disappearance
A major correction in the Canadian Grain Commission’s Grain Statistics Weekly report may have analysts rethinking the market advice they were issuing to farmers. According to the Week 22 report, there was 4.86 million tonnes of domestic disappearance of canola as of Jan. 5, 2020. That is a staggering 1.04 million tonnes ahead of the […] Read more
Indian pea restrictions boost red lentil exports
The crop is enjoying increased popularity in the country as the government implements new import hurdles for peas
Red lentil exports and prices are benefiting from India’s crackdown on peas, says an analyst. The Indian government announced on Dec. 18 that it was restricting pea imports to 150,000 tonnes through March 31. It also limited all imports to the Port of Kolkata, resulting in additional transportation costs for many exporters. The new restrictions […] Read more
U.S. Senate passes North America trade deal, Canada still to approve
WASHINGTON, Jan 16 (Reuters) – The U.S. Senate on Thursday approved a revamp of the 26-year-old North American Free Trade Agreement that includes tougher rules on labor and automotive content but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged. The legislation to implement the U.S.-Mexico-Canada Agreement passed on an 89-10 bipartisan vote, sending […] Read more
Best not to wait to sell your feed grain
WINNIPEG, Jan. 16 (MarketsFarm) – As warmer winter temperatures are bound to happen, the sooner farmers can sell their feed grain the better, said Nelson Neumann, senior trader at Agfinity in Stony Plain, Alta. “There’s still a lot of high moisture feed grain that’s in storage and frozen,” said Neumann, commenting “I wouldn’t be surprised […] Read more
Beyond Meat eyes Prairies for pea protein
Beyond Meat wants more peas from the Prairies. The California company, best known for its veggie burgers, has signed a long-term deal with Roquette, a French company and major supplier of pea-based protein. “This latest contract with Roquette reflects Beyond Meat’s commitment to further scaling the plant protein supply chain as global demand for our […] Read more
Phase 1 commodity targets likely more than China can chew – analysts
BEIJING/SINGAPORE, (Reuters) – Commodity traders and analysts are struggling to map out how China will reach the eye-popping amounts it is committing to buy from the United States under Phase 1 of their trade deal. China has pledged to buy $50 billion more in U.S. energy supplies, and will raise U.S. agriculture purchases by some $32 billion […] Read more
China to ramp up U.S. ag purchases in trade deal
WASHINGTON, (Reuters) – China has pledged to buy almost $80 billion of additional manufactured goods from the United States over the next two years as part of a trade war truce, according to a source, a target that could provide a much-needed boost for planemaker Boeing but is being questioned by U.S. trade experts. Under […] Read more
