Markets
FED MARKET LOWER The fed steer weighted average price fell $7.53 to $143.25 per hundredweight, and heifers fell $10.55 to $140.73. Prices were the lowest since November 2016. Cattle bought during the week were scheduled for delivery at the end of the month. Cattle prices are falling as beef values drop, which they normally do […] Read more
Markets
Canfax report: July 14, 2017
Anti-carbon tax coalition formed in Manitoba
A coalition of like-minded groups wants Manitoba Premier Brian Pallister to act more like Brad Wall. They are asking Pallister to take a position similar to the premier of Saskatchewan and vigorously fight the entire concept of a carbon tax. “The majority of Manitoba’s small business owners oppose carbon taxes and cannot afford a policy […] Read more
Saskatchewan crop conditions deteriorate in heat and dry weather
WINNIPEG, July 13 (CNS) – The condition of major Saskatchewan crops has deteriorated over the past two weeks but the pace of maturation has caught up to normal. Saskatchewan Agriculture says in its weekly crop report released July 13 that most crops are at the normal stage of development. However, lack of rain and heat […] Read more
Crop futures swoon Thur on bearish USDA report and better Midwest weather
U.S. crop futures fell hard on Thursday from the bearish USDA report and improving Midwest weather. Canola futures also fell, but not as hard, with November canola closing down $11.50 or 2.2 percent at $502.50 per tonne. The canola crop still faces a forecast of mostly dry and warm weather over the next three days […] Read more
EU rapeseed crop looks good despite bad weather
HAMBURG, July 13 (Reuters) – The European Union will harvest a large rapeseed crop this season despite plants suffering extreme weather from drought to heatwaves and then too much rain, experts said on Thursday. “The crop is looking decent despite the weather extremes and I would expect the EU’s rapeseed imports in the new 2017-18 […] Read more
Russia wheat does better than Ukraine, but rain delays harvest
MOSCOW/KIEV, July 13 (Reuters) – Russia and Ukraine have started harvesting wheat after rains caused a significant delay. Yields are strong in Russia and lower in Ukraine, analysts and traders said. Traders are looking to see if Black Sea and European wheat can compensate for reduced U.S. supply, which sent wheat prices to a two-year […] Read more
Canola, soybeans overtake wheat in Manitoba
The Brandon Wheat Kings may want to consider a name change because wheat is now the third string crop in Manitoba. For the first time, since records have been kept, hard red spring wheat is not number one or number two in crop acreage in the province. Manitoba Agricultural Services Corporation, the provincial crop insurer, […] Read more
VIDEO: Canada’s agricultural markets update – July 12, 2017
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.
LIVESTOCK – Fund buying rallies CME live, feeder cattle futures
CHICAGO, July 11 (Reuters) – Chicago Mercantile Exchange live cattle contracts on Tuesday reversed Monday’s losses, supported by short-covering and technical buying, said traders. Funds that follow the Standard & Poor’s Goldman Sachs Commodity Index periodically sold, or “rolled”, August futures and simultaneously bought October on the second of five days of the Goldman Roll […] Read more
Canola has weak close Friday but jumps 3.9 pct on week
Traders wrapped the week with profit taking in the canola market Friday, forcing it down at the close after being modestly higher earlier in the morning. A sharp increase in the value of the Canadian dollar after a stronger than expected monthly jobs report also limited canola’s gains. But the forecast for hot and mostly […] Read more
