Markets
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.
Markets
Short covering, bargain buying boosts CME hog futures
CHICAGO, Aug 30 (Reuters) – Chicago Mercantile Exchange lean hog futures closed higher on Wednesday after bargain buyers and investors covering short positions reversed Tuesday’s slide to an 8-1/2 month low, traders said. Prior to Wednesday’s session CME hogs had a relative strength index (RSI) reading of 17. An RSI below 30 suggests a market […] Read more
PREVIEW-Year end canola stocks seen dwindling to 4-year low
(A previous version of this story had incorrect data on canola. It has been corrected.) By Rod Nickel WINNIPEG, Manitoba, Aug 30 (Reuters) – Canadian canola stocks were likely the the tightest in four years before the country’s harvest began, while wheat supplies topped those of last year, according to a Reuters survey ahead of […] Read more
StatsCan production survey timing likely to skew results
Winnipeg, Aug. 29 (CNS Canada) – Production of Canada’s major crops is generally expected to be down on the year after an adverse growing season in many areas. However, actual production may not end up as low as the estimates set to be released by Statistics Canada on Aug. 31 due to the timing of […] Read more
Canola edges higher on Monday, wheat falls
Canola stuck to its guns Monday, with futures staying above $500 per tonne and breaking from the ever so slight weakness seen in soybeans and associated products. Wheat contracts weakened. Canola has been stronger than most crops in the past few weeks, not rising or making new highs but staying in the higher reaches of […] Read more
U.S. July feedlot cattle placements smaller than expected
CHICAGO, Aug 25 (Reuters) – Ranchers in July placed 2.7 percent more cattle in U.S. feedlots than a year ago, the U.S. Department of Agriculture reported on Friday, which fell short of average analysts’ forecasts. Dwindling profits for feedyards, after being paid less for their cattle by packers, discouraged them from buying calves for fattening […] Read more
CME live cattle gain before USDA report but off highs
CHICAGO, Aug 25 (Reuters) – Chicago Mercantile Exchange live cattle posted modest gains on Friday after investors tweaked positions before the U.S. Department of Agriculture’s monthly Cattle-On-Feed report at 2 p.m. CDT (1900 GMT), traders said. Analysts polled by Reuters expect the report to show 6.2 percent more cattle entered feedlots in July than a […] Read more
Harvest pressures canola, U.S. crop tour indicates ample supply
Canola futures drifted lower on Friday, wrapping up a down week for the oilseed. November closed at $500.90 per tonne, down $3.80 on the day. On the week, the contract fell $5.80. Generally good harvest weather in Western Canada weighed on canola today as did lower soybean and soy oil futures. The next seven days […] Read more
Tour pegs soybeans shy of USDA forecast but still record
By Karl Plume and Mark Weinraub ROCHESTER, Minn., Aug 25 (Reuters) – U.S. soybean production could fall short of government forecasts but still be a record crop this year, according to advisory service Pro Farmer, based on data collected on a tour of fields in the Midwest this week. Heat and rains in the next […] Read more
Barley and peas to fuel ethanol plant
Proposed facility near Clavet, Sask., would boost the barley sector and provide a feed byproduct for livestock producers
Saskatchewan barley and pea growers could soon have a big new customer for their crops. Developers are putting the finishing touches on a plan to build a $325 million ethanol plant near Saskatoon that will use those two crops as its primary feedstock. Prairie Green Renewable Energy (PGRE) would be the biggest ethanol plant in […] Read more
