Markets
BEIJING (Reuters) – China’s pig herd shrank in October by the most in close to two years, said the agriculture ministry on Wednesday, amid a crackdown on farm pollution that has forced hundreds of thousands of farms to close in the past year. The world’s largest pig herd contracted by 6.6 percent in October from […] Read more
Markets
China pig herd shrinks further in October
Lower cash prices drop CME hogs to one-month low
CHICAGO, Nov 14 (Reuters) – Chicago Mercantile Exchange lean hogs on Tuesday slid to their lowest level in a month after downward-trending cash prices triggered sell orders, traders said. Fund selling developed after some contracts drifted below technical support areas. December hogs ended 2.325 cents per pound lower at 59.975 cents, and below the 100-day […] Read more
Live cattle mostly lower as beef prices ease
CHICAGO, Nov 13 (Reuters) – U.S. live cattle futures were mostly lower on Monday, pressured by weaker beef prices and expectations that cash cattle at Plains feedlot markets would trade at lower prices this week, traders said. Chicago Mercantile Exchange December live cattle ended steady at 120.575 cents, while actively traded February futures fell for […] Read more
Canola expected to open lower overnight
Soybeans and wheat had bad days Monday, as almost all North American crop futures were in the red. Soybeans, soybean oil and soybean meal all fell. Soybeans weakness suggested the up-trend since mid-August has weakened or ended. “Beans have been looking toppy and they did finally break below key support at $9.80, $9.82 (per bushel) […] Read more
Record weekly canola exports reported
Winnipeg, Nov. 10 (CNS Canada) – Canada exported the most canola in a single week ever during the week ended Nov. 5, according to the latest Canadian Grain Commission report. The CGC pegged weekly canola exports at 470,200 tonnes of canola during the reporting period. That compares with average weekly exports over the past year […] Read more
Urea prices should cool this winter
The recent run-up in nitrogen fertilizer prices is going to be short-lived, according to industry executives. Prices have been rising in North America since late summer, despite a global oversupply of the ingredient. Mark Fracchia, president of PCS Potash, said dealer inventories are down in the United States because they were anticipating new capacity coming […] Read more
Relaxed rules on U.S. wheat imports possible
Canadian farmers have nothing to fear if Canada gives the United States wheat access to its grading system, say industry executives. However, not everyone agrees with that sentiment. U.S. Wheat Associates and the National Association of Wheat Growers have lobbied for years for fair treatment of American wheat. Right now any U.S. wheat that crosses […] Read more
U.S. sets final anti-subsidy duties on Argentine, Indonesian biodiesel
WASHINGTON/CHICAGO, Nov 9 (Reuters) – The U.S. Department of Commerce on Thursday said it set final anti-subsidy duties on biodiesel imports from Argentina and Indonesia. The final duties for soy-based Argentine biodiesel were even higher than preliminary countervailing rates set in August, when imports ground to a virtual halt as Argentine exporters said the tariffs […] Read more
Weak loonie, strong oil good for canola prices
This fall we’ve had the unusual situation of the Canadian dollar falling while the price of crude oil rises. Since Sept. 1, nearby U.S. oil futures rose about $8.30 per barrel, trading Nov. 6 near US$56.83, the highest since July 2015. Oil rose on OPEC’s success in limiting production and expectations that it will continue […] Read more
Canola sales make sense if looking for cash flow
If you have to cash out a crop right now, why not canola? After strong counter-seasonal price gains recently, a weakened Canadian dollar and storage concerns, canola might be the crop to move. That’s what Adam Pukalo of P.I. Financial is telling his clients. “I’m not sure how much higher we’re going to get,” said […] Read more
