Markets
Nov 21 (Reuters) – Australia’s biggest grain handler GrainCorp Ltd said on Tuesday its annual underlying profit nearly tripled on the back of a record wheat crop, but warned of a shrinking harvest and volatile energy costs ahead, sending its shares sharply lower. The negative reaction to GrainCorp’s best result in four years underscored its […] Read more
Markets
Australia’s GrainCorp posts bumper profit but cloudy outlook hits shares
Company sees "substantially" smaller crop in year ahead
Canola falls on vegetable oil weakness
Canola futures fell Monday, attributed to overall vegetable oil weakness. India’s announcement of restrictions on vegetable oil imports hurt the prospects for oilseeds around the world, which was felt in futures markets. Canola was also hurt by the knock-on effects of rains in northern Brazil, which has been dry. The Brazilian planting season is going […] Read more
Fund selloff sinks CME live cattle to 4-month low
CHICAGO, Nov 20 (Reuters) – Chicago Mercantile Exchange live cattle futures fell to their lowest level in four months on Monday, hit by fund selling and Friday’s bearish U.S. government cattle report, traders said. Last Friday’s U.S. Department of Agriculture monthly Cattle-On-Feed report showed ranchers in October placed the highest number of cattle in feed […] Read more
Canola futures edge up, export pace slows
Canola futures edged higher on Friday and posted a modest $4.30 a tonne gain over the week. Soy meal led the market higher on Friday, but soy oil was barely changed. Soybeans and meal were supported by forecasts for growing dry areas in Argentina, but that was offset by forecast for rain in Brazil. The […] Read more
U.S. corn and DDGS producers court Alberta feedlots
Feed barley prices are being kept in check by an abundance of U.S. corn, says a trader. Barley is selling for $215 per tonne delivered into a Lethbridge feedlot, up from about $170 per tonne a year ago. That is a hefty 26 percent increase, but it won’t likely drift much higher because U.S. corn […] Read more
USDA proposes pork grading focus on flavour, texture
If adopted, the grading system would once again play up pork as a red meat and drop the white meat comparison
Pork is getting closer to becoming “the other steak” and backing away from being “the other white meat,” says a taste-focused pig genetics company. And it believes that’s the best news the pork market has had in years. “I think it’ll create an evolution. The premium will be for hard marbling, darker meat, closer to […] Read moreCME live cattle slip on softer cash, beef prices
CHICAGO, Nov 16 (Reuters) – Chicago Mercantile Exchange live cattle futures on Thursday reversed some of Wednesday’s gains, led by weaker cash and wholesale beef values, traders said. Some market participants tweaked positions before Friday’s U.S. Department of Agriculture (USDA) monthly Cattle-On-Feed report. “We saw a small rally yesterday, and a steady opening today, that […] Read more
Russia determined to boost grain export capacity by 50 percent
MOSCOW — Russia, which has shattered wheat harvest records three years running and is expanding production of other crops as well, aims to increase its grain export capacity by 50 percent to 7.5 million tonnes a month within three years. And its importance on world wheat markets is reflected in the CME Group’s announcement Nov. […] Read more
Canadian flax prospects dimmed by China’s silk road
WINNIPEG, Nov. 16 (CNS) – China’s construction of a new “silk road” connecting the country to Europe isn’t likely to be good news for Canadian flax exporters. For several years, Canada has been the main exporter of flax to China but that could likely change if Kazakhstan ever has a direct link to China. “We […] Read more
Canola exports demand soaring
Canola demand might be booming, but its recent price couldn’t escape the effects of a negative U.S. production report and a rising Canadian dollar. Canola exports in the week to Nov. 5 were 470,200 tonnes, the largest one-week movement for the oilseed ever. The total exported in the first 13 weeks or one quarter of […] Read more
