Markets
News that Amazon is buying Whole Foods Market for US$13.7 billion probably did not make a big impact in the minds of prairie grain farmers busy monitoring for pests and spraying weeds. However, it could create a food retail sector shake-up that would vibrate down the food chain. The stock markets and business analysts were […] Read more
Markets
Australian state has ‘desperately dry’ weather
An emerging drought in Western Australia could reduce wheat and canola production in that state. The western portion of the state has experienced “serious and severe rainfall deficiencies” during the fall months of March to May, according to the Australian Bureau of Meteorology. Large portions of the state have received rain that is in the […] Read more
PREVIEW-Canadian farmers trim wheat, canola areas in wet spring-trade
By Rod Nickel WINNIPEG, Manitoba, June 22 (Reuters) – Soggy spring conditions in key crop-growing areas of the Canadian Prairies left farmers unable to plant as much as they intended, but canola seedings still look record-large, according to a Reuters survey of 16 traders and analysts ahead of a government report next week. Statistics Canada […] Read more
Cattle futures trader fined $5 million for manipulation
CHICAGO, June 21 (Reuters) – U.S. futures regulators fined a Memphis trading firm and three associates $5 million on Wednesday for using a manipulative tactic in CME Group Inc’s cattle futures, a market grappling with extreme volatility. The Commodity Futures Trading Commission said it penalized McVean Trading & Investments $1.5 million and its chairman, Charles […] Read more
VIDEO: Canada’s agricultural markets update – June 21, 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.
Hog futures hit 1-year high as pork prices extend gains
CHICAGO, June 21 (Reuters) – U.S. lean hog futures were mostly higher on Wednesday, with the front-month contract rising to the highest levels in a year on support from rising prices for wholesale pork, traders and analysts said. Chicago Mercantile Exchange July lean hogs notched life-of-contract highs for the third straight session as investors continued […] Read more
Cattle settle mostly lower on technical selling, hogs mixed
CHICAGO, June 20 (Reuters) – U.S. live cattle and feeder cattle futures were mostly lower in a technical selloff on Tuesday, with each declining to the lowest levels in about two months before trimming losses. Broad selling in many commodities, led by crude oil, further weighed on cattle at the Chicago Mercantile Exchange. “We had […] Read more
Spring wheat slips after recent rally
Chicago corn fell more than two percent Monday and spring wheat dipped slightly after strong gains last week. Minneapolis July hard red spring wheat fell 3.25 cents on hopes that last week’s rain helped the American crop. “There are expectations that spring wheat (crop condition) numbers could improve a bit,” said Ken Ball, a broker […] Read more
Hogs surge to 1-year high on fund buying, pork price gains
CHICAGO, June 19 (Reuters) – U.S. hog futures surged as much as 4 percent on Monday, lifted by investment fund buying and higher pork prices that boosted meatpackers’ profit margins, traders and analysts said. Hogs on a continuous chart rose to the highest levels since last June 23. Most-active Chicago Mercantile Exchange August lean hog […] Read more
Weather drives spring wheat up 6.7 pct this week
Wheat futures rose again Friday, supported by concerns about the U.S. spring wheat crop, pockets of production problems around the world and short covering. Like Thursday it was the Chicago contract that led the way higher with July up more than 2.5 percent with funds covering short positions. The Minneapolis spring wheat July contact closed […] Read more
