Markets
CHICAGO, May 2 (Reuters) – Chicago Mercantile Exchange live cattle futures closed higher Tuesday on fund buying, short-covering and solid beef demand that briefly lifted the June contract to its 3.000-cent daily price limit, said traders. They said profit-taking and caution before this week’s cash prices pulled futures from new contract highs. June ended 2.925 […] Read more
Markets
CME live cattle ends higher, but off session tops
Preview- Canadian canola stocks seen dwindling to 4-year low
By Rod Nickel WINNIPEG, Manitoba, May 1 (Reuters) – Canadian stockpiles of canola are expected to have dwindled to a four-year low ahead of planting season after brisk demand from crushers and exporters, but wheat supplies likely swelled, according to a Reuters survey of 12 traders and analysts. On Friday, Statistics Canada will estimate crop […] Read more
CME live cattle hold modest gains, hogs end lower
CHICAGO, May 1 (Reuters) – Chicago Mercantile Exchange nearby live cattle contracts on Monday settled with modest gains, supported by their discounts to last week’s futures prices and robust wholesale beef demand, said traders. They said profit-taking, after futures spiked to new highs earlier in the session, capped nearby market advances and pressured other trading […] Read more
Wheat rallies 2 pct to hit 6-week high on frost, snow damage
By Colin Packham SYDNEY, May 1 (Reuters) – U.S. wheat futures rose more than two percent on Monday as frost across key growing regions stoked fears of widespread production losses, pushing prices to a six-week high. Heavy snow in some parts of the Plains also caused problems, with worries about stem breakage. Heavy rain in […] Read more
New crop canola up on seeding delay, trade watches wild weekend weather in US
Old crop canola fell again on Friday while new crop edged higher, closing just 60 cents shy of $500 per tonne. Weaker soy oil weighed on old crop canola. Traders narrowed what had been a wide spread between old and new crop. The lightly traded May contract fell $17.20 as its expiry date approaches. Most-traded […] Read more
Crushing blow? Chinese grow wary of GMO
By Dominique Patton BEIJING, April 28 (Reuters) – A Chinese consumer backlash against genetically modified (GMO) crops is beginning to dent demand for soy oil, the nation’s main cooking oil, and could spell crisis for the multi-billion-dollar crushing industry, which depends on GMO soybeans from the United States and elsewhere. The effects on import demand […] Read more
Less lentils, more flax: farmer survey
Flax acres are forecast to rise 19 percent, while a 25 percent drop in lentil acres surprised many analysts
Canadian pulse crop seeding intentions for 2017 are down more than analysts expected but in line with what the trade was thinking. According to Statistics Canada’s March survey of 11,600 farmers, growers plan to seed 4.39 million acres of lentils, down 25 percent from last year, and 3.99 million acres of peas, a six percent […] Read more
Canola, soybean acres surge in seeding estimates
Somewhere, somehow, farmers have found more than two million extra acres for the 2017 crop production season, according to Statistics Canada. That will allow farmers to boost canola acres to a stunning 22.4 million, expand Manitoba soybean acres to 2.2 million and raise oat acres 20.6 percent to 3.4 million — all while allowing them […] Read more
Canadian mustard acres feeling squeeze from canola
Winnipeg, April 27 (CNS Canada) – After growing the largest mustard crop in more than a decade in 2016, the supply/demand fundamentals should see fewer Canadian mustard acres in 2017. And with more cropland moving into canola, mustard acreage increases may be limited in future years when supplies are tight again. The 2016 Canadian mustard […] Read more
CME cattle rally to 1-year peak as cash prices surge
CHICAGO, April 27 (Reuters) – Chicago Mercantile Exchange live cattle surged to contract highs on Thursday and closed up the daily limit in most contacts on stronger-than-expected cash markets and robust demand for beef, traders said. The front-month contract hit a 13-month peak as the market closed higher for the fifteenth time in 16 sessions. […] Read more
