Markets
CHICAGO, June 28 (Reuters) – Chicago Mercantile Exchange live cattle futures settled higher on Wednesday after bargain buying and short-covering offset early-session selling following Tuesday’s heavy losses, said traders. They said discounts in deferred months to this week’s expected cash prices contributed to market advances. June, which will expire on Friday, closed 0.650 cent per […] Read more
Markets
CME live cattle up on bargain buying after selloff
Canada tightens inspections of imported Brazil meat
By Rod Nickel WINNIPEG, Manitoba, June 28 (Reuters) – Canada has stepped up inspections on imported meat from Brazil to temporarily check every shipment following a corruption investigation involving Brazil’s health inspectors, the Canadian Food Inspection Agency (CFIA) said. The new protocols, which started on April 10, involve full inspection of all Brazilian meat imports […] Read more
CME live cattle futures erase Monday’s rally
CHICAGO, June 27 (Reuters) – Chicago Mercantile Exchange live cattle futures on Tuesday bowed to fund liquidation that wiped out Monday’s sharp gains, including the August contract’s settlement up its 3.000-cent per pound daily price limit, traders said. They attributed further selling on lower wholesale beef values that could weigh on this week’s cash prices. […] Read more
Spring wheat soars again, canola climbs with oilseeds
After trading as high as $6.93 a bushel, the Minneapolis September spring wheat contract closed at $6.86, up 17 ¼ cents or almost 2.6 percent on the day. Spring wheat rose after the USDA on Monday lowered the good to excellent rating of the crop to 40 percent. That was down from 41 percent the […] Read more
Spring wheat soars to three-year high on declining U.S. crop condition
By Julie Ingwersen CHICAGO, June 27 (Reuters) – U.S. spring wheat futures soared to their highest level in nearly three years on Tuesday on forecasts for stressful weather in the northern Plains, analysts said. Corn and soybean futures also climbed after a U.S. Department of Agriculture (USDA) report said the condition of all three U.S. […] Read more
French wheat crop status uncertain after heatwave
Rtr Jn 27 Jury still out on state of French wheat crop after heatwave PARIS, June 27 (Reuters) – A heatwave that hit France last week has left analysts with mixed views on the impact it will have on the wheat harvest this year, with some strongly reducing forecasts while others saying it came too […] Read more
CME live cattle ends sharply higher, shrugs off USDA report
CHICAGO, June 26 (Reuters) – Chicago Mercantile Exchange live cattle futures closed sharply higher on Monday, with the August contract up the 3-cent per pound daily price limit, helped by buy stops and fund buying, said traders. They said Monday morning’s wholesale beef price upswing and back-month futures’ discounts to last week’s cash prices offset […] Read more
Cattle price might dip on large U.S. feedlot placements
By Theopolis Waters CHICAGO, June 23 (Reuters) – U.S. ranchers during May drove 12 percent more cattle into feedlots than a year earlier, the most for the month in a decade, the U.S. Department of Agriculture reported on Friday, topping average predictions. Higher cattle prices paid by packers last month generated more profits for feedlot […] Read more
U.S. winter wheat protein levels remain low, premiums swell
CHICAGO, June 23 (Reuters) – Reports show average protein levels in the U.S. hard red winter (HRW) wheat crop are still the lowest in years, heightening concerns about quality as the harvest progresses in top producer Kansas. Premiums for high quality HRW wheat with protein of 12 percent or more have swelled to levels unseen […] Read more
Decline in canola halts, spring wheat up again
Canola futures ended the week on an up note, posting a small gain but over the week they fell. Today’s positive showing was mostly simply an adjustment after the decline, but canola did get support from slightly stronger soy oil and a small decline in the Canadian dollar. Over the week, July fell $4.50 a […] Read more
