Markets
CHICAGO, May 30 (Reuters) – The earliest reports from the start of the U.S. hard red winter wheat harvest underscored industry fears of a second straight year of low protein, a factor that shifts the market’s focus to prospects for the North American spring wheat crop, a higher-protein variety. “It’s probably a foregone conclusion at […] Read more
Markets
U.S. winter wheat might have low protein
Canada pork shipment flagged in China for banned drug
WINNIPEG, Manitoba, May 30 (Reuters) – A Canadian shipment of pig feet to China has tested positive for residues of banned growth drug ractopamine and may curb future trade, Canadian government and industry officials say. China views the tainted shipment as a “systemic failure” of Canada’s program that certifies pork sent to China is free […] Read more
Canola down in light trade
Canola fell again Monday, but whether that signalled continuing pressure in North American oilseeds or was simply an echo from Friday was impossible to tell. With Memorial Day closing markets south of the line, canola traded on its own. “Volumes are extremely low as you’d expect on a day when the U.S. markets are closed,” […] Read more
EU rapeseed forecast little changed
PARIS, May 29 (Reuters) – Crop consultancy Strategie Grains’ monthly forecast of this year’s rapeseed crop in the European Union was little changed, with a cut to expected output in top grower Germany mostly offset by upward revisions in other countries. It projected 2017-18 production of rapeseed-canola, the EU’s main oilseed crop, at 21.35 million […] Read more
Bearish USDA report rattles CME live cattle futures
CHICAGO, May 26 (Reuters) – Chicago Mercantile Exchange live cattle futures on Friday finished sharply lower, hit by fund liquidation and the morning’s bearish U.S. Department of Agriculture Cattle-On-Feed report, said traders. The report showed the number of cattle placed in feedlots in April hit a 14-year high for the month. Traders said fund liquidation […] Read more
July canola falls $6.40 on week weighed down by soybeans
Canola futures again fell on Friday, pressured by falling soy and soy oil futures. The pressure from soybeans more than offset worries about wet fields in Alberta that might not be seeded, or else seeded to short season crops. Alberta canola planting is 49 percent complete, and overall seeding is well behind the normal pace, […] Read more
Forecaster sees drought for Ukraine
A drought in Ukraine could be the weather shock that sparks a grain price rally, says an analyst. AccuWeather forecasts hot and dry weather developing in Poland, the Baltic States, Belarus and Ukraine this summer with “severe impacts” on agriculture. “We do expect drought conditions across much of Ukraine, which may damage crops,” meteorologist Tyler […] Read more
Funds, bargain buying rallies CME live cattle futures
CHICAGO, May 25 (Reuters) – Chicago Mercantile Exchange live cattle on Thursday reversed some of their recent losses, stirred by fund buying and bargain hunting as the U.S. Memorial Day holiday approaches, said traders. They said futures’ discounts to this week’s cash prices attracted would-be buyers. June closed 1.800 cents per pound higher at 123.925 […] Read more
Investment sizzles as potato demand grows
After years of flat demand, North America’s potato industry is enjoying a wave of investment. In early May, McCain Foods announced a $200 million expansion of its processing plant in Burley, Idaho. That comes on the heels of a December announcement by Cavendish Farms. It plans to build a $350 million frozen potato processing plant […] Read more
Spring hog rally creates hedging opportunities
Farmers in Canada and the United States haven’t been shy to peg some prices in the recent hog market rally. “They’ve taken to the recent rally and used it as a pricing point,” said Tyler Fulton, director of risk management for Hams Marketing. “Producers are viewing this as a trigger to price.” That makes sense, […] Read more
