Markets
CHICAGO, April 18 (Reuters) – Chicago Mercantile Exchange live cattle on Tuesday spiked to their highest since mid-April 2016, driven by improved wholesale beef demand that may underpin cash prices this week, said traders. They said profit-taking pulled back-month futures down from new contract highs achieved earlier in the session. April live cattle closed 0.350 […] Read more
Markets
Strong beef demand lifts CME live cattle to 1-year high
Weather risk expected to keep malt barley seeding low
Winnipeg, April 18 – Concerns about weather dictating the quality of malt barley is keeping producers from seeding the crop this year, one industry participant says, while weak prices offer no extra incentive. “Acres are definitely going to be down, because of the fear of getting feed barley, which is horrendously low priced,” said Rod […] Read more
CME live cattle climb 7th straight session to new highs
CHICAGO, April 17 (Reuters) – Chicago Mercantile Exchange live cattle rose on Monday for the seventh consecutive session, boosted by improved wholesale beef demand and futures’ discounts to recent cash prices, traders said. They said speculative buying and buy stops drove deferred contracts to fresh highs. April live cattle closed 1.050 cents per pound higher […] Read more
Record canola acres possible in StatsCan seeding report
Winnipeg, April 17 (CNS Canada) – Canadian farmers might be set to seed record large canola acres in 2017, while wheat area is generally expected to be down when Statistics Canada releases its first survey-based acreage estimates of the year on Friday, April 21. From an economic standpoint, “canola is historically the commodity that pays […] Read more
Cattle futures firm on discount to cash trades, hogs rebound
CHICAGO, April 13 (Reuters) – Chicago Mercantile Exchange live cattle futures climbed to a roughly 1-1/2 year high on Thursday, boosted by gains in cash cattle prices that widened futures’ discount to the cash market, dealers said. Feedlots bought a small number of cattle in Nebraska at $128 per cwt, up $2 from last week. […] Read more
Basis premiums in the offing?
Marketing advisers expect grain companies and crushers to begin offering more specials and offers to attract canola as the crop year runs down. Buyers need to do something if they want new product. There is little left in farmers’ bins and futures prices have fallen well be-low $500 a tonne. “I do think they are […] Read more
Huge canaryseed carryover creates ‘wishy washy’ outlook
The canaryseed market outlook can be summed up in one word — blah. Exports have been lacklustre, supply is much bigger than the official numbers suggest and the price outlook is dismal, say analysts. David Nobbs, managing partner of CanPulse Foods, doesn’t see prices improving from today’s values of 20 cents per pound delivered and […] Read more
Analysts see continuing weakness ahead for loonie
Some currency experts believe the loonie will drop significantly this year, helping buffer Canadian farmers against lacklustre commodity prices. Ken Courtis, chair of Starfort Investment Holdings and a member of federal Finance Minister Bill Morneau’s Advisory Council on Economic Growth, said U.S. President Donald Trump’s economic stimulus program will strengthen the U.S. dollar and drive […] Read more
Canola finishes week strong with May at $500 a tonne
May canola settled right at the $500 a tonne mark on Thursday, garnering support from rising soybeans, a weaker loonie and a rolling of short positions into the July contract. Tightening canola old crop supplies should keep a floor under canola prices. The May contract closed at $500, up $10.90 from the close the previous […] Read more
Canola oil may head south for biodiesel
A potential change in the U.S. biodiesel tax credit could create a new market for Canadian canola oil, say analysts. The U.S. biodiesel industry has lobbied Congress for years to change the $1 per gallon tax incentive to a producer’s credit from a blender’s credit. “What that would do is that would incentivize U.S. production,” […] Read more
