Markets
CHICAGO, Aug 21 (Reuters) – Chicago Mercantile Exchange live cattle futures eased to their lowest level in nine months on Monday as the seasonal supply build-up pressured wholesale beef prices for a third consecutive session, traders said. They said bullish traders worried that plentiful cattle numbers might again result in lower prices for slaughter-ready, or […] Read more
Markets
CME live cattle dips to 9-month low for 3rd straight session
StatCan Preview-Heat withers wheat; canola looks resilient -trade
By Rod Nickel WINNIPEG, Manitoba, Aug 18 (Reuters) – Hot, dry summer weather across the southern Canadian Prairies is likely to sharply shrink the wheat harvest, but canola output looks more promising, according to a Reuters survey of 17 traders and analysts. All-wheat output is likely to dive 17 percent to 26.2 million tonnes, according […] Read more
ICE Canada canola futures rise on soy strength, weather concerns
WINNIPEG (Reuters) — ICE Canada canola futures rose on Friday for a second straight day, lifted by strength in U.S. soybeans and concerns about Canadian crop weather. Concerns about dry conditions, and a forecast risk of frost for early September added strength to canola, a trader said. Despite unfavourable weather in parts of the Canadian […] Read more
CME live cattle again sink to 9-month bottom, but off lows
CHICAGO, Aug 18 (Reuters) – Chicago Mercantile Exchange live cattle futures pared losses on Friday after falling to its lowest level in 9 months, led by this week’s steep cash price drop and seasonally downward-trending wholesale beef values, said traders. Bargain buying and traders covering their short positions lifted contracts from session lows, and futures […] Read more
USDA soy, corn estimates questioned
The U.S. Department of Agriculture released some eye-popping corn and soybean yield numbers in its latest World Agricultural Supply and Demand Estimates report. “The August crop report is known for its surprises and the USDA didn’t disappoint,” said Arlan Suderman, chief commodities economist with INTL FCStone. The corn estimate was 169.5 bushels per acre, which […] Read more
Uncertain supply of quality oats in Sask. weighs on millers
A Manitoba miller is nervous about oat quality in Saskatchewan, which has the bulk of acres on the Prairies. A hot and dry summer likely reduced grain fill on many fields in the province, which could affect oat millers in the coming months. “Whatever got seeded later, the Saskatchewan crop, I’m really questioning what the […] Read more
No summer sale at diesel pump
It’s been a strange summer for fuel prices. Pump prices for gasoline in Canada and the United States typically rise in the summer, while diesel prices fall. However, diesel prices have been flat in Western Canada this summer, and gasoline prices have fallen. As a result, there was a strange sight in July for drivers […] Read more
ICE Canada canola futures rise, halt skid
WINNIPEG (Reuters) — ICE Canada canola futures rose on Thursday and halted a five-day skid, following U.S. soybeans and soy oil higher. Strong Chinese demand and the fact that favorable rains missed some U.S. Midwest growing regions, buoyed soybeans, spilling over support to fellow oilseed canola. The light trading volume kept canola technical sellers on […] Read more
Tight supply could make canola situation ‘explosive’
Oil World says lower production in Canada and Australia, along with low palm oil stocks, could send canola prices up
Analysts are becoming increasingly bullish about canola for a variety of reasons. Glen Pownall, managing director of Peter Cremer Canada Ltd., said dry conditions in Canada and Australia have reduced yields in the two main exporting countries. “I think things are going to be very tight, that’s for sure,” he said. “Overall in Western Canada, […] Read moreCanfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Fed cattle steady Weekly average Alberta fed cattle prices have traded within a tight range over the […] Read more
