Markets
BEIJING, Oct 28 (Reuters) – New standards of protein content in animal feed that China announced on Friday will cut the country’s annual soymeal consumption by 11 million tonnes and soybeans by 14 million tonnes, according to a statement from the agricultural ministry seen on Sunday. China is entering what is typically its top buying […] Read more
Markets
China’s new animal feed standards set to lower soybean consumption
U.S. agriculture chief says no plan to extend farm aid to offset tariffs
WASHINGTON, Oct 29 (Reuters) – The U.S. Department of Agriculture is not planning to extend an up to $12 billion aid package for farmers into 2019, Secretary Sonny Perdue said on Monday, to mitigate farmer losses due to the imposition of tariffs on American exports. “Farmers are very resilient and adept in making their planning […] Read more
Canola prices drop as farmers make progress on harvest
Canola contracts on the ICE Futures exchange fell to their lowest levels of the past year during the week ended Oct. 26, as harvest operations across Western Canada finally neared completion. Farmers in both Alberta and Saskatchewan reported good progress during the week, helping ease concerns over unharvested acres being left out over the winter. […] Read more
Manitoba cattle market better than rest of Prairies
While cattle prices are starting to soften across most of Western Canada, Manitoba is finding itself as the exception. “In Manitoba things aren’t looking too bad. They’ve got some options there, their price has almost been a premium, or some of the strongest in Western Canada,” said Brian Perillat, manager and senior analyst at Canfax. […] Read more
Drought to cut east Australia crop output in half from 20-year average
MELBOURNE – Drought is expected to cut eastern Australia’s crop production this year to less than half the average over the past 20 years, with New South Wales to be worst hit, the country’s agricultural commodities forecaster said on Friday. While some regions are facing the worst conditions in memory, the Australian Bureau of Agricultural […] Read more
Canola funds maintain net long position
Speculators grew their net long positions in the ICE canola market slightly during the week ended Oct. 23, while commercial traders built their positions on the short side, according to the latest Commitment of Traders(CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators moved to a […] Read more
Alberta farmers make large harvest progress
After weeks of no harvest progress, farmers in Alberta were able to get back into the fields and make significant harvest progress over the last week, according to the provincial crop report released Oct. 26. The Alberta harvest is now 78 percent completed as of Tuesday, Oct.23, jumping up 28 percent from last week. The […] Read more
Canola holds; soy, wheat drop
ICE Futures canola contracts settled narrowly mixed on Thursday, seeing some consolidation after recent losses after trading to both sides of unchanged throughout the session. Losses in Chicago soybeans and the advancing Canadian harvest did put some pressure on values. The latest crop report out of Saskatchewan released earlier in the day showed farmers there […] Read more
Canola not flying to China
China’s soybean spat with the United States will not result in a huge increase in Canadian canola sales to the Asian country, says a trader of the crop. “You can’t really increase exports to China anything dramatically because you still have to be a registered crush plant there,” said Glen Pownall, managing director of Peter […] Read more
Climate change and beer study sends wrong message
Reports on a study that says climate change could cause beer prices to double have been all over the news, science programs and late night comedy shows. Few things related to food grab people’s attention more than beer, except maybe bacon. With all the craft brewers around these days it’s easy for reporters to find […] Read more
