Markets
CHICAGO, Ill. (Reuters) — The U.S. Department of Agriculture’s crop reports, which often provide huge shocks to the market, have been met by a shrug this year, with price moves and volume muted by the massive global supply of grains. For example, the USDA’s monthly supply and demand report June 9 slightly raised its forecast […] Read more
Markets
Huge grain supply dampens impact of USDA report
Enlist corn market widens as China grants approval
June 14 (CNS Canada) – China’s decision to allow imports of Enlist corn will provide a new option for Canadian corn growers. “I guess the big thing is that farmers are usually receptive to technology that will help them on their farms,” said Myron Krahn, president of the Manitoba Corn Growers Association. “It’s another tool […] Read more
VIDEO: Canada’s agricultural markets update – June 14, 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.
CME live cattle tumble by 3-cent price limit
CHICAGO, June 14 (Reuters) – Chicago Mercantile Exchange live cattle nearby contracts on Wednesday finished down their 3-cents-per-pound daily price limit, hit by fund liquidation and lower preliminary cash prices, said traders. June and August closed limit down at 124.500 cents and 117.875 cents, respectively. Both contracts ended below their respective 40-day moving averages of […] Read more
Hogs rebound as U.S. wholesale pork hits 2-year high
CHICAGO, June 13 (Reuters) – Chicago Mercantile Exchange lean hog futures jumped as much as 2 percent on Tuesday, rebounding from losses in the previous session on support from sharply higher wholesale pork prices, traders and analysts said. Prices for U.S. pork extended gains to the highest levels in more than two years, according to […] Read more
Cattle, hog futures ease on fund selling
CHICAGO, June 12 (Reuters) – U.S. cattle and hog futures fell 1 percent or more on Monday, pressured by chart-based and investment fund selling, traders and analysts said. Lower-than-expected prices in cash cattle markets late last week further weighed on futures, even as rising U.S. wholesale beef prices suggested meat demand remained strong. Chicago Mercantile […] Read more
China cuts corn output forecast on bad weather
BEIJING, June 9 (Reuters) – China on Friday slashed its 2017 -18 corn output forecast to the lowest level in four years after drought and hail hit planting in the northeastern region of one of the world’s top producers, spurring a rally in futures prices. In its monthly crop report, the agriculture ministry said it […] Read more
CME live cattle futures end weaker, hogs firmer
CHICAGO, June 9 (Reuters) – Chicago Mercantile Exchange live cattle contracts were weakened Friday by profit-taking and investor caution as they await the bulk of this week’s cash cattle sales, said traders. Futures discounts to initial cash prices limited market losses, they said. June closed down 0.125 cent per pound to 131.250 cents, and August […] Read more
Market retains focus on weather as USDA raises wheat production forecast
Friday’s U.S. Department of Agriculture report pegged U.S. wheat production a little higher than expected, but the trade continued to put more focus on the hot, dry weather affecting a large part of the North American grain belt. Canola futures drifted a little lower as needed rain began creeping into the Prairie forecast. USDA REPORT […] Read more
USDA raises wheat production outlook despite weather challenges
WASHINGTON, June 9 (Reuters) – U.S. wheat supplies will be bigger than expected despite a snowstorm in early May that analysts worried had severely damaged the crop in Kansas, the top producing state, the U.S. Agriculture Department said on Friday. More recently, farmers in spring wheat areas have been struggling with dry weather and given […] Read more
