Markets
Canadian farmers harvested larger crops than forecast in September, reaping record-large canola output and a surprisingly big wheat crop, a Dec. 6 Statistics Canada report showed. Canola production topped 21.3 million tonnes, eight percent higher than Statistics Canada’s September estimate, and more than one million tonnes larger than the average trade estimate in a Reuters […] Read more
Markets
Argentina rain dampens oilseed market Thursday
Expectations for improved soil moisture in Argentina with the forecast for weekend rain pressured oilseeds lower on Thursday. Soybeans were down a little more than one percent and canola fell a little less than one percent. The loonie has rallied back above US78 cents. Corn was basically unchanged and wheat rallied slightly on short covering […] Read more
Global economy is buoyant
CHICAGO, Ill. — The global economy is performing much better than anticipated, says an economist. Nariman Behravesh, chief economist with IHS Markit, said global growth in gross domestic product will be 3.2 percent in 2017, up from 2.5 percent last year. “We’ve got the strongest growth since 2011,” he told delegates attending the 2017 DTN […] Read more
WP livestock report
Hogs edge higher Prices were higher last week, but demand could slow this week because packers will need fewer hogs with Christmas and New Years closures. The U.S. national live price average for barrows and gilts was US$46.94 per cwt. Dec. 8, up from $46.41 Dec. 1. U.S. hogs averaged $59.10 on a carcass basis […] Read more
Weak loonie masks effects of big U.S. stocks
The falling Canadian dollar largely offset the negative impact on local markets of the larger than expected crop numbers in last week’s Statistics Canada report. Canola futures barely budged last week and prairie cash spring wheat prices fell less than the American wheat futures market, thanks mostly to a decline in the value of the […] Read more
Small crop could create wheat price rally: analyst
CHICAGO, Ill. — Darin Newsom couldn’t believe what he was about to say. For the first time in many years, DTN’s senior market analyst was going to tell a room full of farmers attending the 2017 DTN Ag Summit that he was modestly bullish on wheat. “It’s insane to say this, but I think 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. Fed cattle stronger The fed steer Canfax average was $151.99 per hundredweight, up $1.29, and heifers averaged […] Read more
Eat local campaigns keep slaughter cattle home
The current condition for Canadian beef is profitability, while the 2018 forecast is steady with a chance of volatility. Canfax research manager Brenna Grant said “2017 was a year of surprising strength that wasn’t anticipated to be there.” Large supplies of beef, pork and poultry in Canada and the United States were expected to pressure […] Read more
Oversupply keeps corn in doldrums; rally unlikely
DTN analyst expects a year over year 13 percent drop in corn prices , but soybean picture looks brighter
CHICAGO, Ill. — Don’t expect a price rally in the crop that is the price leader for the grains and oilseed sector, says an analyst. Darin Newsom, senior analyst with DTN, is bearish on corn, which is already mired at the lower end of its historical price range. He typically bases his analyses on technical […] Read moreStrategie Grains sees stable EU wheat, durum crops in 2018, barley up
PARIS, Dec 14 (Reuters) – Farmers in the European Union will harvest about the same amount of soft wheat in 2018 as they did this year as higher projected yields compensate for a fall in area sown, consultancy Strategie Grains said on Thursday. Durum seeded area is expected to be the same year on year, […] Read more
