Markets
WINNIPEG, Dec. 13 (CNS) – Soybean and corn futures both suffered losses over the past week as improving weather patterns in South America have pushed the commodities below their recent support levels. March corn dipped below the psychologically-important US$3.50 a bushel level on Tuesday, Dec. 12. The market was pressured by the USDA’s monthly supply […] Read more
Markets
Corn and soybean futures prices struggle
Canola below $500 on technical weakness
Canola futures continued to slide on Wednesday but American crop futures edged higher on a round of short covering. The biggest market news of the day came from the Federal Reserve. As expected, it raised its interest rate by 25 basis points. Canola futures are under pressure as technical indicators are negative. And trading will […] Read more
VIDEO: Canada’s agricultural markets update – December 13, 2017
D’Arce McMillan, The Western Producer markets editor, monitors trends in the North American and global agricultural markets. Each week he hosts a market video about crops. The video is designed to help viewers understand the forces responsible for changes in the trade. If agricultural markets are important to you, we have you covered.
Crop futures drift lower as USDA raises wheat, soy year end stocks
The USDA increased its forecast for U.S. year end stocks of soybeans and wheat due to disappointing pace of exports so far this crop year. Domestic corn ending stocks for 2017-18 were cut to 2.437 billion bu. from 2.487 billion bu. That was a little bullish for corn because analysts had expected corn ending stocks […] Read more
White House to host fresh biofuels talks to help refiners -sources
Dec 12 (Reuters) – The White House will host talks between the rival oil and ethanol industries on Wednesday hoping to broker a deal to help refiners struggling to meet the country’s biofuels policy, according to sources familiar with the matter. The meeting comes after the White House last week pressured Midwest lawmakers to take […] Read more
U.S. soybean, wheat ending stocks up as exports fall -USDA
WASHINGTON, Dec 12 (Reuters) – The forecast for U.S. year end stocks of wheat and soybeans were raised due to dwindling export demand for U.S. supplies in the monthly supply and demand report from the USDA. The government also trimmed its supply view for corn due to rising usage from the ethanol sector. There was […] Read more
U.S. soy processors build new capacity at fastest rate in 20 years
CHICAGO, Dec 11 (Reuters) – U.S. agricultural cooperatives are building new soybean crushing plants at the fastest rate in two decades as farmers in the world’s top producer prepare to sow another record area with soy. The growth worldwide in the number of consumers with income to spend on pork and chicken has led to […] Read more
Australia lifts beef export forecast as ranchers capitalise on La Nina boost
SYDNEY, Dec 12 (Reuters) – Australia on Tuesday raised its forecast for beef exports by five percent as farmers are expected to send more cattle to slaughter to capitalise on strong Asian demand ahead of a La Nina weather event that will provide near perfect seasonal conditions. Beef exports from the world’s fourth largest seller […] Read more
Brazil soy crop might post new record
BRASILIA, Dec 11 (Reuters) – Brazil’s 2017-18 soy harvest may be equal to or greater than last year’s record production, Deputy Agriculture Minister Eumar Novacki told Reuters on Monday. The crop is all seeded and will be harvested in a few months. “We have been talking to farmers, and I think we may have a […] Read more
Crop futures sag on improved Argentina crop moisture
Crop prices were generally lower Monday as weekend rain in Argentina reduced worries about early crop damage in that country. More rain is in the forecast. Oilseeds, including canola, were also pressured by the slow pace of U.S. soybean exports. Corn and wheat set new contract lows, weighed down by ample supplies. OUTSIDE MARKETS Light […] Read more
