Markets
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
Markets
ICE Canada canola futures rise, halt skid
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
WP livestock report
Hogs down The U.S. national live hog price average for barrows and gilts was US$61.59 per hundredweight Aug. 4, down from $62.94 Aug 4. U.S. hogs averaged $77.85 on a carcass basis Aug. 11, down from $79.82 Aug. 4. The U.S. pork cutout was $94.44 per cwt. Aug.11, down from $95.77 Aug. 4. The estimated […] Read more
Asia Grains-Indonesia buys Canadian wheat, Australia offers new crop
SINGAPORE, Aug 15 (Reuters) – A flour miller in Indonesia bought 25,000 tonnes of Canadian spring wheat in a recent deal for arrival in November while Australian exporters are offering new-crop wheat, traders said. The Indonesian miller purchased Canadian wheat between US$320 and $325 a tonne, including cost and freight. Spring wheat prices rallied to […] Read more
Corn soybean futures struggle under heavy supplies
WINNIPEG, Aug. 16 (CNS) – Corn and soybean traders continue to assess the fallout from last week’s world supply and demand report from the United States Department of Agriculture. The monthly report stunned analysts with predictions for U.S. corn yields at 169.5 bushels per acre and soybean yields of 49.4 bu./acre. “That just destroyed the […] Read more
ICE Canada canola futures slide for fifth straight day
WINNIPEG (Reuters) — ICE Canada canola futures slipped on Wednesday for a fifth straight session, pressured by a stronger Canadian dollar. Dry conditions in Western Canada modestly underpinned canola, but buyers have been content to wait and see how the crop turns out, a trader said. November canola lost $1.60 to $492.70 per tonne, touching […] Read more
CME live cattle futures give back Tuesday’s gains
CHICAGO, Aug 16 (Reuters) – Chicago Mercantile Exchange live cattle futures on Wednesday reversed some of Tuesday’s advances, led by fund liquidation and expectations for softer prices for slaughter-ready, or cash, cattle this week, traders said. “We obviously still see liquidation by funds that are still long the market,” West Oak Commodities analyst Tom Tippens […] Read more
ICE Canada canola futures fall as U.S. rains pressure oilseeds
WINNIPEG (Reuters) — ICE Canada canola futures dropped on Tuesday, dragged lower by rains that were favorable to the U.S. soybean crop. Canola’s losses were more modest than those of soybeans for much of the session due to concerns about low yields in the western Canadian canola crop, but finished with similar declines, a trader […] Read more
CME live cattle rebound after bargain hunters step in
CHICAGO, Aug 15 (Reuters) – Chicago Mercantile Exchange live cattle futures closed sharply higher on Tuesday, ignited by bargain buying after burdensome supplies recently sank the contract to eight-month lows, said traders. “Everybody was just overly bearish and we had lots of long liquidation by funds pushing the market down. So we’ve got to where […] Read more
