Markets
CHICAGO, July 31 (Reuters) – Last Friday’s selling of Chicago Mercantile Exchange live cattle contracts carried over into Monday, led by sell-stops and position squaring on the last trading session of the month, traders and analysts said. Some investors sold August futures and simultaneously bought deferred contracts while cautiously awaiting this week’s cash prices. August […] Read more
Markets
End-of-month positioning pressures CME live cattle
Japan hikes tariffs on beef, troubles trade relations
By Reuters and Western Producer Staff Japan hiked tariffs on frozen beef imports from Canada, the United States and other counties on Friday. The tariff rises to 50 percent from 38.5 percent, until next March, Japan’s Ministry of Finance said. The tariff hike is a “safeguard” mechanism to protect domestic farmers, Japan’s ministry said. It […] Read more
Weekly market wrap – prices rise as weather stress continues
Crop futures rose Friday amid dry weather in large parts of Canada and the U.S. growing regions and hot conditions in the Prairies. November canola closed up $6.50 at $510.30. Compared to the previous Friday, November canola was up $5.50 per tonne, not bad considering that the loonie rose about three-quarters of a cent over […] Read more
US courts: Farmers over EPA-more biofuels
By Emily Flitter and Jarrett Renshaw NEW YORK, July 28 (Reuters) – The U.S. government may have to require more biofuels to be blended into the country’s fuel supply after a court ruled on Friday that the mandates must be reconsidered, a decision that boosted renewable fuel credits to seven-month highs on financial markets. The […] Read more
German wheat latest to be downgraded by rain
PARIS-HAMBURG, July 28 (Reuters) – The risk of quality damage in this summer’s German wheat harvest is increasing as rain soaks crops waiting to be cut, denting the European Union’s export prospects after France’s better-than-expected harvest results. Germany is still expected to harvest a large volume of wheat, supporting an anticipated rise in EU wheat […] Read more
EU slashes corn crop forecast, projects record imports
PARIS, July 28 (Reuters) – The European Commission cut its forecast for 2017-18 corn crop in the European Union by nearly 4 million tonnes to a five-year low, while raising projected imports of the grain to a record level. Usable production of corn was put at 58.4 million tonnes, compared with 62.1 million estimated a […] Read more
Crop tour wrap – Drought slashes U.S. spring wheat yield prospects
By Julie Ingwersen FARGO, N.D., July 27 (Reuters) – Hot and dry weather during the growing season slashed yield prospects for U.S. hard red spring wheat to the lowest in nearly a decade, scouts on an annual crop tour said on Thursday. The Wheat Quality Council tour pegged the 2017 U.S. hard red spring wheat […] Read more
Bunge struggles in tough market
CHICAGO, Ill. (Reuters) — Bunge Ltd.’s sweeping plans to overhaul its business and cut costs may not be enough to compensate for weak earnings and could still leave it vulnerable to a new bid from diversified rival Glencore PLC. Glencore’s current agricultural holdings include Viterra. Bunge is a part owner of G3 Canada and has […] Read more
WP LIVESTOCK REPORT: July 27, 2017
HOGS PEAK Hog prices appear to have peaked for the season as supplies increase. The U.S. national live price average for barrows and gilts was US$67.85 per hundredweight July 21, down from $68.30 July 14. U.S. hogs averaged $83.33 on a carcass basis July 21, down from $86.40 July 14. The U.S. pork cutout was […] Read more
Canfax report: July 27, 2017
FED CATTLE STEADY The Canfax weighted average steer price was $144.02 per hundredweight, down 15 cents. Heifers were $143.18. Fed cattle prices have traded in a narrow range for three weeks. Packers are slaughtering at an aggressive pace, which is supportive to prices. Packers are enjoying healthy operating margins, encouraging them to slaughter on Saturdays. […] Read more
