Markets
BUENOS AIRES, Sept 12 (Reuters) – After strong weekend storms, early spring rainfall threatens to cut by half the planted area of soy and corn in Argentina’s largest producing province of Buenos Aires, analysts said on Tuesday. Above average levels of moisture now affect 11.86 million acres, or 28 percent of Buenos Aires’s agricultural lands, […] Read more
Markets
Saturated soils may cut Argentina soy, corn area
USDA boosts already-large corn, soybean harvest expectations
WASHINGTON, Sept 12 (Reuters) – The U.S. Department of Agriculture unexpectedly raised its U.S. corn and soybean harvest forecasts on Tuesday, adding further bearish pressure to a market already struggling with massive global supplies. The harvest outlooks, issued in the government’s closely watched Crop Production report, topped market forecasts for the second straight month. Corn […] Read more
Canola falls as good harvest continues
Canola had another dreadful day Monday, falling to $485.70 per tonne for the November futures contract. That’s beneath a line of medium-term support at $490 per tonne, which has held since June, but leaves it well above longer-term support at $472 per tonne. Traders blamed the decline on harvest pressure, as huge amounts of crop […] Read more
Cattle, hog futures narrowly mixed on pre-USDA consolidation
CHICAGO, Sept 11 (Reuters) – Chicago Mercantile Exchange live cattle and lean hog futures were flat to narrowly mixed on Monday as investors consolidated positions ahead of a government livestock and crop report due on Tuesday, traders and analysts said. Some live cattle contracts eked out small gains following modestly higher sales in U.S. Plains […] Read more
Australia cuts 2017-18 wheat forecast to 8-year low
SYDNEY, Sept 12 (Reuters) – Australia on Tuesday cut its forecast for 2017-18 wheat production by nearly 10 percent to an eight-year low, as dry weather cuts yields across the country’s largest producing regions. With harvesting set to begin in coming months, wheat production is expected at 21.64 million tonnes, the Australian Bureau of Agricultural […] Read more
Funds, short-covering extend CME live cattle gains
CHICAGO, Sept 8 (Reuters) – Chicago Mercantile Exchange live cattle futures on Friday closed higher for a third day in a row, led by fund buying and investors who covered previously short positions, said traders. December led advances after funds in CME’s livestock markets that track the Standard & Poor’s Goldman Sacks Commodity Index bought […] Read more
Markets wrap: Canola down on harvest pressure, Russia crop increases
Canola futures slid a little lower on Friday, capping a week when the November contract fell $5.70 per tonne on a stronger loonie and harvest pressure. Today the November contract closed at $491.60, down $2.40 or 0.47 percent, with prospects for a hot sunny weekend and rapid harvest progress. Today’s Alberta crop report said as […] Read more
Strong durum prices expected
Farmers with a durum crop should be able to enjoy both a decent price this winter and much needed aid in clearing last year’s crop, some analysts say. The crop might be small, but it’s vital. Durum supply will be a combination of new production and the carry over from 2016-17. “It’s still going to […] Read more
Three rules for grain marketers: test, test, test
On-line grain trading forum FarmLead has introduced a new grain testing platform designed to help farmers get maximum value for the grain they produce and sell. GrainTests.com is an on-line service that gives farmers accessto grain testing labs across Canada and the United States. Farmers who use the service select the lab of their choice, […] Read more
Spreads help drive up CME live cattle futures
CHICAGO, Sept 7 (Reuters) – Chicago Mercantile Exchange live cattle closed higher on Thursday after investors bought October futures and simultaneously sold deferred months in a trading strategy known as bull spreads, traders said. Some market participants, also through spreads, purchased live cattle futures and at the same time sold CME lean hog contracts. There […] Read more
