Markets
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
Markets
EU rapeseed forecast little changed
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
WP livestock report
Hogs gain Strong pork exports and expectations that market-ready supply will get smaller seasonally lifted hog prices. U.S. hogs averaged US$70.86 on a carcass basis May 19, up from $69.73 May 12. The U.S. pork cutout was $87.26 per cwt. May 19, up from $83.29 May 12. The estimated U.S. weekly slaughter for the week […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Fed cattle lower The Canfax weighted average fed steer price was $174.44, down $5.58, and heifers were […] Read more
Minneapolis spring wheat premium widens over winter wheat
WINNIPEG — Concerns over poor quality North American wheat crops have seen the Minneapolis spring wheat premium widen over Kansas City winter wheat. That spread could grow wider heading into the summer, according to a U.S. analyst. The nearby Minneapolis spring wheat contract settled up 3.75 cents May 18, while the corresponding Kansas City hard […] Read more
