Markets
October began in the green for most North American crops futures markets, but wheat weakened. Canola escaped the downdraft from weakening soybean oil, instead following behind a rise in soybeans to mark a more than $2 per tonne gain in trading Oct. 3. “Canola just tagged along,” said P.I. Financial broker Ken Ball, comparing canola […] Read more
Markets
Canola follows soybeans up
Bargain buying rallies CME lean hogs futures
CHICAGO, Oct 3 (Reuters) – Most Chicago Mercantile Exchange lean hog contracts ended sharply higher on Monday, fueled by bargain buying following futures’ plunge by their 3-cent per pound price limit on Friday, said traders. October, which will expire on Oct. 14, closed down 0.100 cent per pound at 48.925 cents. Most-actively traded December ended […] Read more
ICE Canada canola falls on hedge selling, down for week
WINNIPEG, Manitoba, Sept 30 (Reuters) – ICE Canada canola futures dropped on Friday for the fifth time in six sessions, on a boost in commercial hedge selling, notching a 1 percent weekly loss. * Hedges picked up as farmers’ harvesting advanced, a trader said. In Alberta, 40 percent of canola is harvested. * Market was […] Read more
Vegetable oil prices rally
Canola has been helped by a demand-driven vegetable oil rally in recent weeks, and some analysts think the rally can continue or at least the gains held. “It’s purely driven by demand, which is good,” said Errol Anderson, editor of the ProMarket Wire. Any dips will be met by additional buying, he said. “If it […] Read more
Latin Americans ask for more Prairie Spring wheat supply
“Help us out with the CPSR. Don’t take it away from us.” That plea, uttered humorously by Colombian miller Carlos Alberto Patino at the end of an interview, sums up both a current market concern with important Latin American millers about a Canadian crop class and the interesting reality of a type of wheat that […] Read more
New high-efficiency facilities announced for Glenlea, Moosomin
G3 Canada plans to officially open the doors to another high efficiency elevator next week. G3’s new facility at Glenlea, Man., will host a grand opening on Oct. 5. The facility features 34,000 tonnes of storage, cleaning facilities and a 134-car loop track. The elevator is located about a kilometre south of Glenlea off Highway […] Read more
India cuts import taxes on wheat, palm oil, refined oils
NEW DELHI, India (Reuters) — India has cut import taxes on wheat, crude palm oil and refined vegetable oils as part of efforts to curb food inflation. Analysts expect India will import several million tonnes of wheat this year due to a small domestic crop. Indian wheat imports are rare, but the new demand is […] Read more
Farm groups welcome trade talks with China
Farm groups are thrilled with the news that Canada has begun exploratory free trade talks with China. “China is the world’s largest banquet and we want Canada to be the caterer,” said Canadian Agri-Food Trade Alliance president Brian Innes. “With this step forward we are closer to taking advantage of a huge opportunity to increase […] Read more
WP livestock report
Hogs fall Rising market-ready hog supplies kept U.S. cash hog prices falling. There was expectation that packers might pressure pork values lower to stimulate increased consumption. The U.S. national live price average for barrows and gilts was US$39.94 per hundredweight Sept. 23, down a little more than $2 from Sept 19. U.S. hogs averaged $50.88 […] 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 prices rise Canfax fed steers averaged $134.07 per hundredweight and heifers were $133.20, up about $5 […] Read more
