Markets
WINNIPEG/OTTAWA, Aug 23 – Canadian farmers are set to harvest slightly less canola, surprising traders, but more wheat, according to Statistics Canada’s first production report of the year on Tuesday. Mostly favorable spring weather raised expectations of a bumper harvest in western Canada, where most of the country’s grains and oilseeds grow. Summer storms, including […] Read more
Markets
Canola up on expectations of StatsCan report
ICE Canada canola on Monday reached five-week highs on its most-active contract, due to short-covering ahead of Statistics Canada’s first production estimates of the year. Statistics Canada will report Tuesday, while a Reuters trade survey predicts the Canadian canola crop to be second-largest ever. November canola added $1.30 at $470.50 per tonne, January canola gained […] Read more
Scouts find subpar corn yields, big soy pod counts in South Dakota
EPIPHANY, S.D., Aug 22 (Reuters) – Average corn yields in southeastern South Dakota were below average as signs of growing-season stress were evident in the crop, but soybean yield potential was robust, scouts on an annual crop tour found on Monday. Missing grain on the ends of corn ears, known as “tipback” and an indication […] Read more
LIVESTOCK-CME live cattle futures slump 6th straight day
CHICAGO, Aug 22 (Reuters) – Chicago Mercantile Exchange live cattle futures fell for a sixth day in a row on Monday, pressured by supply worries implied by last Friday’s U. S. Department of Agriculture monthly Cattle-On-Feed report, traders said. The report showed 2.0 percent more cattle placed in U.S. feedlots in July compared to a […] Read more
More cattle entered U.S. feedlots in July than anticipated –
By Theopolis Waters CHICAGO, Aug 19 (Reuters) – Cattle placed in U.S. feedlots in July rose two percent compared to a year earlier, the U.S. Department of Agriculture said on Friday, which topped most analysts’ estimates. Feedlot supply on Aug. 1 was 10.165 million head, up two percent from just over 10 million a year […] Read more
Industry braces for potentially big StatsCan crop estimates
Winnipeg, Aug. 19 – Large crops are in Western Canadian farmers’ fields ahead of this year’s harvest, but just how big remains to be seen as industry participants await Statistics Canada’s first survey results of the crop year set for release on Aug. 23. Pre-report trade estimates on canola production range from 16 million to […] Read more
Manitoba releases latest crop report
SOUTHWEST Strong winds, heavy rain and hail were reported across the region. Harvest continues for winter wheat, fall rye, peas and barley, generally with average yields. Most first cut haying is completed with above average yields. NORTHWEST Precipitation that varied from trace amounts to 50 millimetres and wind caused lodging. Harvesting of fall rye, perennial […] Read more
Bumper U.S. crop hurts grain prices
If all of the United States corn crop this year was loaded onto rail cars in one train, that train would have roughly 3.79 million cars. I’d hate to be at a rail crossing waiting for that to go by. The U.S. Department of Agriculture last week forecast the American corn crop would have a […] Read more
Ample crude supply should keep diesel prices steady
Western Canadian farmers don’t need to worry about a price spike for diesel because prices should be flat well into 2017, says a petroleum industry analyst. Diesel prices at the pump have been 80 to 95 cents per litre across the Prairies since January. Barring a stark change of policy by the Organization of Petroleum […] Read more
Beef markets giveth, beef markets taketh away
U.S. analyst estimates the American feedlot sector lost $1.6 billion last year after record prices in 2014
The fastest upward move in the beef markets starting in 2013 has been followed by a shocking reversal in fortune. Feedlots in Canada and the United States earned record profits and then faced disastrous losses, said market analysts from Canfax and Cattlefax. “The feedlot industry has given a lot of that profitability back with some […] Read more
