Markets
CHICAGO, Dec 16 (Reuters) – Chicago Mercantile Exchange live cattle futures on Friday reached their highest level since late August, driven by short-covering following the morning’s strong wholesale beef prices, said traders. Buy stops and technical buying enhanced market advances, they said. December live cattle closed 1.600 cents per pound higher to 112.325 cents, after […] Read more
Markets
CME live cattle futures scores 3-1/2 month high
Good tidings for canola in 2017
Farmers might have long faces from bad canola basis levels for most of the fall, but some analysts think they might find much to smile about in the new year. Buyers’ hunger for canola should strengthen after the present futures rally settles and the cash market chews through enough of the 2016-17 crop. “We think […] Read more
Market analyst says too many balls to juggle
CHICAGO, Ill. — Darin Newsom said this was the most difficult market outlook presentation he has put together in the last decade. There are too many wild cards and no clear path forward for grain and oilseed markets. With that caveat, he provided his best guess where soybean, corn and wheat prices are heading. Newsom […] Read more
Canola prices, demand rosy; wheat not so much
The rising Canadian dollar is likely having a greater impact on Canadian crop markets than the final Statistics Canada production report of the year. The agency’s crop size estimates issued Dec. 6 had no shocking discrepancies from what the trade expected. There were minor differences from a pre-report survey of analysts, but not enough to […] Read more
Cash price caution pressures CME live cattle futures
CHICAGO, Dec 15 (Reuters) – Chicago Mercantile Exchange live cattle futures closed weaker on Thursday as investors wait for remaining slaughter-ready, or cash, cattle to change hands by Friday, traders said. December live cattle closed down 0.375 cent per pound at 110.725 cents, and February was 0.425 cent lower at 113.275 cents. Packers may resist […] Read more
Soybean glut won’t hurt canola demand
CALGARY — Healthy crush margins in Canada, strong Chinese demand for oilseeds and increased European demand for canola will offset the downward pressure on canola values by a burdensome soybean carryover, said Marlene Boersch of Mercantile Consulting Venture. China is set to import 86 million tonnes of soybeans and 4.5 million tonnes of rapeseed this […] Read more
More quality Canadian wheat than expected despite weather
Overseas buyers of Canadian grain are being surprised by Canada’s New Crop Missions, but not because they are hearing about bad crops and poor quality. All serious buyers of Canadian wheat and durum already know Western Canada had a bad growing season and nightmarish harvest, but few realize Canada still has lots of good crops […] 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 profitable The Canfax weighted steer average was $150.48 per hundredweight, up $1.57, and heifers were […] Read more
WP livestock report
Hogs rise A little tighter supply and continued strong packer profit margins pushed U.S. hog prices higher. Pork wholesale values were also up. The U.S. weekly slaughter dipped a little. Merchants believe cash and wholesale pork prices are about to top out as plants prepare to close over the Christmas and New Year’s holidays. They […] Read more
Informa raises U.S. 2017 soy plantings forecast, lowers corn -trade
CHICAGO, Dec 15 (Reuters) – Private analytics firm Informa Economics raised its projection of U.S. 2017 soybean plantings to 88.862 million acres and trimmed its corn plantings forecast to 90.151 million acres, two trade sources said on Thursday. In November Informa pegged soybean seedings to 88.612 million acres, which would top the record high of […] Read more
