Markets
As of July 31, Canada’s total stock levels for canola and oats were down from the same date in 2016. Meanwhile, wheat, barley and lentil stocks increased compared with July 31, 2016. Wheat Total stocks of wheat were up 32.6 percent to 6.9 million tonnes. A Reuters poll of the trade had a range of expectations of 4.7 to 7.2 million for […] Read more
Markets
Canadian canola stocks down, lentil, wheat stocks up
Hogs jump most in 2 months on technicals, pork packer demand
CHICAGO, Sept 5 (Reuters) – U.S. lean hog futures surged about 4 percent on Tuesday, boosted by chart-based buying and stronger demand from pork packers, traders and analysts said. Hog futures on the Chicago Mercantile Exchange notched the largest percentage gains in more than two months as prices continued rising from multimonth lows reached on […] Read more
Friday market wrap: strong loonie weakens canola
The sharply stronger Canadian dollar, that hit a two-year high, weighed down canola on Friday. Hedge selling, as grain companies offset buying of new crop from the combine, also weighed on canola. The dollar rose on ideas that the Bank of Canada could raise interest rates at its meeting next week. Expectations for a hike […] Read more
Cattle mostly firm on short covering; big supply weighs
CHICAGO, Sept 1 (Reuters) – Chicago Mercantile Exchange live cattle futures were mostly higher on Friday, lifted by end-of-week short covering following a decline to nine-month lows a day earlier, traders said. Futures, however, remain anchored by plentiful supplies of market-ready cattle and weak cash markets as fed cattle in the U.S. Plains this week […] Read more
Fewer cows culled than expected
CALGARY — Dry conditions in parts of the Prairies might bring an earlier than usual fall calf run but so far those same conditions haven’t resulted in more cows coming to town. Brian Perillat, senior analyst at Canfax, gave a generally bullish analysis Aug. 17 to those at the Canadian Beef Cattle Industry Conference, but […] Read more
August crop forecasts tend to underestimate
Trying to forecast final production when the crop is still growing is like shooting at a fast-moving target. Statistics Canada planned to release its first projection of Canada’s 2017 crop on Aug. 31, after this column was written. We’ll have full same-day coverage on our website and also in next week’s paper. UPDATE: You can […] Read more
U.S. feedlot cattle placements smaller than analysts expected
CHICAGO (Reuters) – U.S. ranchers in July placed 2.7 percent more cattle in U.S. feedlots than a year ago, but fell short of average analysts’ forecasts. Dwindling profits for feedyards, reflecting weaker fed cattle prices, discouraged them from buying calves for fattening, said analysts following the U.S. Department of Agriculture cattle on feed report Aug. […] Read more
Canada’s economy grows 4.5 pct annualized in second quarter
OTTAWA, Aug 31 (Reuters) – A rebound in Canadian business investment may signal the long-awaited shift from the consumer to the corporate side of the economy, but with trade uncertainty hanging over executives, analysts expect the strength to moderate in the months ahead. Canada’s economy grew at an annualized rate of 4.5 percent in the […] Read more
Corn, soybeans rally as focus moves to new crop
Aug. 31 (CNS Canada) – Traders in corn and soybean futures might well have been hoping for a repeat of history at the start of the August 31 session. This day last year, corn prices scraped bottom and then rallied, moving from harvest lows. If they were hoping, they got it. Today, a similar rally […] Read more
U.S. must jump hurdles before beef heads to China
CALGARY — A deal that re-opened beef trade between the United States and China, an-nounced in May, won’t see major product flow for at least three years, says an American beef trade expert. Don Close, vice-president of animal protein with Rabo AgriFinance, said it will take at least that long for the U.S. beef supply […] Read more
