Markets
D’Arce McMillan, The Western Producer markets editor, monitors trends in the North American and global agricultural markets. Each week he hosts a market video about crops. The video is designed to help viewers understand the forces responsible for changes in the trade. If agricultural markets are important to you, we have you covered.
Markets
Higher cash, pork prices extends CME hog futures rally
CHICAGO, Dec 7 (Reuters) – Chicago Mercantile Exchange lean hog futures gained for a third straight day on Wednesday, led by upward-trending cash and wholesale pork prices, said traders. December hogs closed up 1.325 cents per pound at 54.700 cents. Most actively traded February ended 2.275 cents per pound higher at 59.750 cents. Packers are […] Read more
Bank of Canada holds rates steady, cites economic slack
OTTAWA, Dec 7 (Reuters) – – The Bank of Canada pointed to undiminished uncertainty and a “significant amount” of slack in the Canadian economy as it held interest rates steady on Wednesday, noting that inflation is below expectations and growth set to slow as 2016 draws to a close. The decision by the central bank […] Read more
Statistics Canada lentil numbers confirm trade suspicions
Winnipeg, December 6 (CNS Canada) – New Statistics Canada data has confirmed what traders already assumed—lentil supplies aren’t lacking, despite excess moisture this year. Prices for the pulse had been trending lower with those suspicions, and buyers are looking to India for indications on where to move in the New Year. Statistics Canada estimates say […] Read more
Cash, pork prices drive CME hogs to 2-month high
CHICAGO, Dec 6 (Reuters) – Chicago Mercantile Exchange lean hog futures on Tuesday reached their highest level in two months, fueled by rising cash prices and decent pork demand, said traders. February and April futures punched through their respective 100-day moving average of 55.845 cents and 62.070 cents, which triggered fund buying and buy stops. […] Read more
Statscan: Canada harvests bigger wheat, canola crops despite snowy fall
WINNIPEG/OTTAWA, Dec 6 (Reuters) – Canada’s wheat and canola crops withstood unfavorable autumn weather, topping Statistics Canada’s previous estimates and last year’s production, according to the government agency’s report on Tuesday. Canola production was 18.4 million tonnes, up 0.3 percent from last year and the second-largest Canadian canola crop on record, but short of the […] Read more
CME hogs hit 1-1/2-month high on cash price optimism
CHICAGO, Dec 5 (Reuters) – Chicago Mercantile Exchange lean hog futures on Monday hit a 1-1/2-month high, spurred by expectations for stronger near-term cash prices, said traders. They said technical buying contributed to market advances. December hogs closed up 0.750 cent per pound to 51.500 cents. Most actively traded February ended 0.775 cent per pound […] Read more
Canola little changed over week as market awaits StatsCan report
Canola futures closed the week on an up note after spending much of the morning slightly lower on loonie strength. The January contract closed up $1.60 or 0.3 percent on the day. For the week, the contract rose just $1.10 or 0.2 percent. Canola held steady this week even as the trade, on average, forecasts […] Read more
Hog explosion threatens profits
The U.S. growth in production is not keeping pace with exports, and analyst warns of a price correction
CALGARY — China and the United States are both increasing hog production, and that has major implications for the Canadian pork industry, says an agricultural analyst. Brett Stuart, chief executive officer of Global AgriTrends in Denver, predicts that China will add 1.7 million tonnes of pork production next year and reduce its imports as a […] Read more
U.S. biofuel target boosts soyoil, canola
Oilseed prices, including canola, rose following the announcement of new U.S. biofuel targets last week. The U.S. Environmental Protection Agency’s overall biofuel target of 19.28 billion gallons for 2017 was larger than expected and the component for advanced biofuels of 4.28 billion gallons, which includes biodiesel from vegetable oil, was particularly strong. On Nov. 27, […] Read more
