Markets
The fate of the North American Free Trade Agreement could very well become the central issue in the 2019 federal election campaign. Trade officials from Canada, Mexico and the United States failed to resolve an ongoing impasse at the negotiating table in time to present Congress with an agreement by May 17 — a deadline set […] Read more
Markets
Missed NAFTA deadline could turn talks into election issue
Prairie feedgrain prices startingto soften
Prices usually hold steady during seeding but that isn’t the case this year
Winnipeg (CNS Canada) — Following a winter of tight feedgrain supplies that sparked a price rally in Western Canada, prices are starting to back off. “It’s been breaking free a little bit. Kind of surprisingly this year it took till seeding time to see that happen. We’ve seen markets rally right up till May,” said […] Read more
Brazil could take soybean production crown from U.S.
It appears Brazil might achieve another milestone in its progression as an agricultural powerhouse. It could become the world’s largest soybean producer in 2018-19, taking the title from the United States. The U.S. Department of Agriculture forecasts that the South American country will produce 117 million tonnes of the oilseed in the coming year, topping […] Read more
New rules needed for simulated meat products
Cattle ranchers who have spent years carefully raising their herds to supply meat to generations of people will soon face a new challenge — that of simulated beef, either made from plants or cultured in a laboratory. Some people may dismiss this development as a future extravagance, but make no mistake, what’s coming is nothing […] Read more
U.S. hard red winter wheat estimate considered too high
A couple of prominent grain industry analysts believe the U.S. Department of Agriculture has overestimated the size of the U.S. hard red winter wheat crop. If they’re right and the crop is smaller it won’t have a big impact on world wheat prices, but another factor might. The USDA is forecasting 647 million bushels of […] Read more
Saskatchewan seeding ahead of schedule
Winnipeg (CNS Canada) – Relatively good conditions allowed seeding progress to nearly doubled over the last week in Saskatchewan, according to the weekly crop report from the Saskatchewan Ministry of Agriculture, released May 24. Approximately 70 per cent of the Saskatchewan crop is in the ground, which is ahead of the five-year average of 55 […] Read more
Canada begins ratification of Pacific trade deal
The process will also require legislation to be tabled and then passed by the House of Commons and the Senate
Canada could become one of the first six nations to ratify the Comprehensive and Progressive Trans Pacific Partnership because the federal government has tabled the full text of the treaty. International Trade Minister Philippe Champagne tabled the agreement, formerly known as the TPP, in the House of Commons this week. “We’ve taken a historic step […] Read more
Soybeans climb on hopes for renewed demand from China
Beijing gives soy processors green light to import U.S. soybeans
CHICAGO, May 23 (Reuters) – U.S. soybean futures scaled to a 2-1/2-week high on Wednesday as signs of renewed Chinese demand for U.S. exports lifted prices for a fourth straight session. Corn reached a 9-1/2 month peak on concerns about planting and early crop development due to adverse weather, while wheat extended prior-session gains as […] Read more
Lower CDN dollar boosts canola
Winnipeg – The ICE Futures Canada canola market ended higher on Wednesday, due to action in the Canadian currency. The Canadian dollar was lower, relative to its U.S. counterpart, which made canola more attractive to international buyers. Gains in the U.S. soy complex were bullish for canola. Concerns over excess dryness in multiple areas of […] Read more
U.S. beef packer margins soar as cattle prices fall
CHICAGO, May 23 (Reuters) – U.S. beef packers including Tyson Foods Inc and Cargill Inc are racking up historically high margins, thanks to slumping cattle prices amid a supply glut and as Americans turn to beef for their backyard summer barbecues. Supermarkets are stocking up on steaks, hot dogs and hamburgers for the May 26 […] Read more
