Markets
CHICAGO, Aug 31 (Reuters) – Chicago Mercantile Exchange live cattle futures ended lower on Wednesday following softer wholesale beef values and this week’s disappointing cash prices, traders said. The thinly traded August live cattle contract, which expired at noon CDT (1700 GMT), closed up 0.450 cent per pound at 111.950 cents. Most actively traded October […] Read more
Markets
Bearish fundamentals halt CME live cattle futures rally
China delays new canola rules in late reprieve for Canada
BEIJING, Aug 31 (Reuters) – China agreed on Wednesday to delay introducing stricter rules on shipments of canola from Canada while both countries work to end a months-long trade spat over sales of the oilseed, offering an eleventh hour temporary reprieve for Canada’s farmers. Just a day before the new standards were due to go […] Read more
CME live cattle futures rise for first session in 12
CHICAGO, Aug 30 (Reuters) – Chicago Mercantile Exchange live cattle contracts on Tuesday closed in positive territory for the first time in 12 sessions, helped by short-covering and futures’ discounts to early-week cash prices, traders said. August live cattle, which will expire on Wednesday, closed up 0.750 cent per pound to 111.500 cents. Most actively […] Read more
ICE Canada canola falls to nearly four-week low
WINNIPEG, Manitoba, Aug 30 (Reuters) – ICE Canada canola futures fell on Tuesday to their lowest in nearly four weeks, pressured by fresh sales by farmers, a big harvest approaching and concerns about demand. * Weak technical indicators and a drop in U.S. soy markets added to pressure. * Traders are awaiting results of the […] Read more
Agrium, Potash Corp of Saskatchewan confirm merger talks
Agrium Inc. and Potash Corp of Saskatchewan Inc. confirmed Tuesday they are in preliminary merger talks. Agrium is North America’s major distributor of agricultural products and produces nitrogen, potash and phosphate fertilizer. PotashCorp is the world’s largest potash producer with five mines in Saskatchewan, as well as nitrogen and phosphate operations. Both issued statements saying […] Read more
ICE Canada canola falls on weak soy prices, technical selling
WINNIPEG, Manitoba, Aug 29 (Reuters) – ICE Canada canola futures slipped on Monday to the cheapest most-active contract price in two weeks, pressured by weaker U.S. soy prices and technical selling. * The most-active November contract is technically weak, trading below the 50-day moving average, a trader said. * Traders are awaiting results of the […] Read more
CME live cattle spiral downward as supply worries persist
CHICAGO, Aug 29 (Reuters) – Most Chicago Mercantile Exchange live cattle contracts drifted lower on Monday on ample supplies that pressured wholesale beef values and could again hurt cash prices by Friday, traders said. Thinly traded August futures, which will expire on Wednesday, were supported by their discount to last week’s prices for market-ready, or […] Read more
Oil demand boosts canola price
Canola prices have climbed in recent weeks despite prospects of a big crop on the way. The oilseed has support from soybean oil, which in turn is being propped up by rising palm oil prices. In recent weeks, there has been a dramatic rebound in soy oil prices that had been on a steady downward […] Read more
ICE Canada canola inches higher, records weekly loss
WINNIPEG, Manitoba, Aug 26 (Reuters) – ICE Canada canola futures eked out small gains on Friday, nudged higher by weakness in the Canadian dollar, but they registered a weekly loss. * Demand concerns overhang canola with China set to toughen a shipping standard on Sept. 1, but Canadian sales to China have continued. * November […] Read more
Burdensome supplies again buckle CME live cattle futures
CHICAGO, Aug 26 (Reuters) – Chicago Mercantile Exchange live cattle futures on Friday racked up losses for a tenth session in a row, on plentiful supplies that softened wholesale beef values and this week’s cash prices, traders said. Futures losses accelerated after October and December filled a key technical chart gap between the July 22 […] Read more
