Markets
CHICAGO, Aug 23 (Reuters) – Chicago Mercantile Exchange live cattle futures on Wednesday hit a nine-month low for the fourth time in the past five sessions, led by seasonally soft wholesale beef demand and lower initial cash prices, said traders. Fund liquidation contributed to declines after deferred contracts slipped below key technical support levels, they […] Read more
Markets
CME live cattle futures resume trek to 9-month low
Canola high and tight
A lack of farmer availability to get remaining canola inventories to the crushers and a steady demand pushed prices up by the end of Tuesday’s trading. However that trade was thinner overall than in previous weeks, say traders. November canola was up $1.80 per tonne to $506.80. Soybeans also supported higher canola with modest gains […] Read more
CME live cattle futures breaks 4-session losing skid
CHICAGO, Aug 22 (Reuters) – Chicago Mercantile Exchange live cattle futures on Tuesday settled higher for the first time in five sessions, spurred by short-covering and bargain buying, said traders. Some contracts punched through key technical resistance barriers, which triggered fund buying and pre-established buy orders. August ended 0.725 cent per pound higher at 106.725 […] Read more
Late-summer canola prices holding steady
If you had gone away for two weeks of summer holidays and came back Monday, you might think nothing had been happening in the market. But that would have only applied to the canola futures market, which has been relatively flat and rangebound since mid-July, with most other crops gradually trending down. “It’s certainly holding […] Read more
CME live cattle dips to 9-month low for 3rd straight session
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
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
