Markets
Hogs The U.S. national live price average for barrows and gilts was US$42.79 per hundredweight Nov. 9, down from $45.01 Nov. 2. U.S. hogs averaged $53.35 on a carcass basis Nov. 9, down from $57.58 Nov. 2. The U.S. pork cutout was $70.27 per cwt. Nov. 9, down from $75.07 Nov. 2. The estimated U.S. […] Read more
Markets
WP livestock report
Canola hits new 15-month low
ICE Futures canola contracts were mostly lower on Wednesday, with the most active months hitting their weakest levels since August 2017 as speculative selling weighed on values. Some of the activity tied to spreading against Chicago Board of Trade soybeans, which were higher on the day. The settlement below C$480 per tonne in the January […] Read more
India expected to become a pulse buyer again
After a year that saw India drop off the map as a pulse importer, some industry officials expect that we could see India re-enter the pulse buying market soon. “Seeding is going down, the monsoons are weak. So definitely they will need to import. I see that in the next few months we will start […] Read more
Weak Cdn dollar limits drop in oilseeds
The ICE Futures canola platform were weaker at market close, following the lead of Chicago soyoil contracts. The January contract has been finding some support around the C$480 mark, however it hasn’t been able to rally as weak soyoil contracts have it stuck there. Chicago Board of Trade (CBOT) soybean, meal and oil contracts were […] Read more
Canola sees small gains; wheat drops
ICE Futures canola contracts settled with small gains on Friday, turning higher in the final minutes of trade after posting losses for most of the session. Losses in Chicago Board of Trade soyoil futures, bearish technical signals, and ample supplies in the commercial pipeline all contributed to the softer tone seen throughout the day. However, […] Read more
Canola futures hit 15-month low
Canola futures slid to their lowest levels in 15 months during the week ended Nov. 9, but managed to uncover some support to the downside and could be consolidating. While off-the combine deliveries were slowing down with the advent of winter, the commercial pipeline is still filled with recently harvested canola supplies. The weekly Canadian […] Read more
Prairie wheat bids down with U.S. futures
Wheat bids in Western Canada were lower for the week ended Nov. 8, following the lead of dropping United States futures markets. Average Canada Western Red Spring (13.5 percent CWRS) wheat prices were down slightly, falling by less than a dollar to C$2 per tonne, according to price quotes from a cross-section of delivery points […] Read more
CBOT soybeans recover after dismal USDA data
The latest United States Department of Agriculture (USDA) reports surprised traders leading to an immediate sell-off for Chicago Board of Trade (CBOT) soybean contracts. “It’s a pretty interesting report to tell you the truth, but really the focus has been on the beans,” said Jack Scoville of Price Futures Group in Chicago, Ill. It had […] Read more
Storing grain considered a risky plan
A broker advises farmers to buy call options as a way to protect themselves in a downward trending market
Now is a good time to consider buying call options, says a commodity broker. “Right now I’m pushing the option side because to me they’re a bargain,” said Errol Anderson, broker and author of the ProMarket Wire newsletter. Call options that typically cost about $15 to $18 per tonne are going for about $10 per […] Read more
Pricey canola squeezes crush margins, lowers production
Slow crushing pace could jeopardize Agriculture Canada’s crush forecast of 9.49 million tonnes this year
Canola crush margins have been in the doldrums, but they are starting to improve, says a futures trader. Ken Ball, futures adviser with PI Financial Corp., has his own version of a crush margin index, which compares the value of canola seed to that of oil and meal. The index was in the $100 to […] Read more
