Markets
CHICAGO, Aug 12 (Reuters) – Chicago Mercantile Exchange lean hog futures were mostly higher on Friday, rebounding from earlier losses on technical buying and short-covering following the midday expiration of the August contract, traders and analysts said. Gains in hog futures came after prices neared last week’s roughly four-month lows, and hogs could still face […] Read more
Markets
Hogs jump in technical rebound after August expiry, cattle flat
WRAP: Record U.S. crop forecast fails to drop crop futures
The USDA on Friday pushed its yield forecasts for corn and soybeans beyond the average of traders’ expectations but by the end of the day, the crop market was little changed. Record yield forecasts initially hit prices hard, but then commercial and end user buying started to reel the prices back up. Canola followed the […] Read more
Jury still out on U.S. corn, soy yields despite USDA forecast
WASHINGTON, Aug 12 (Reuters) – The U.S. Department of Agriculture’s (USDA) massive hikes to its corn and soybean harvest views on Friday will test the grain markets adage that “big crops get bigger,” with market watchers split on whether final yields will match the lofty outlook. The USDA boosted its already robust yield forecasts for […] Read more
Bearish USDA report sees record U.S. corn, soy crops after good July weather
WASHINGTON, Aug 12 (Reuters) – The U.S. soybean and corn harvests will be the biggest ever this fall, according to a U.S. Department of Agriculture monthly outlook that boosted yield and production forecasts for both crops above market expectations. The USDA on Friday pegged the corn crop at 15.153 billion bushels, based on an average […] Read more
Lean hogs tumble in reversal as pork extends losses
CHICAGO, Aug 11 (Reuters) – U.S. lean hog futures fell sharply on Thursday, reversing from earlier steep gains on pressure from declining pork prices and ample hog supplies, traders and analysts said. The price action suggested that hog futures would likely test their life-of-contract lows reached on Aug. 4 when trading resumes on Friday, analysts […] Read more
Rain dampens lentil optimism
WINNIPEG — Thunderstorms and rain systems continued to roll across Saskatchewan last week, increasing the number of lentil fields at risk for yield loss and potential abandonment. “Certainly in that west-central part of the province, Rosetown and other significant lentil growing regions, we have seen some problems and crop failures due to too much moisture,” […] Read more
U.S. analysts consider potential for record yields
While many Canadian farmers wonder if they will get a break in the rainy weather long enough to harvest their crops, American analysts are raising their forecasts for U.S. corn and soybean production. Crops in the Midwest passed through the July heat wave in great shape and some analysts think there is potential for record-breaking […] Read more
Fall precipitation forecast
Early August is proving to be a wet period for the Canadian Prairies, but it might be drier mid-month, and the autumn average temperature could be warmer than normal. Environment Canada released its three month August-October outlooks last week. It expects all of Canada will on average be warmer than normal during the period. If […] Read more
Proposal to nix marketing board shocks Ont. vegetable growers
Ontario farmers may have a radically different system for selling process vegetables next year, but producers and industry watchers don’t understand why the change is necessary. News leaked in July that the Farm Products Marketing Commission, a regulatory agency established by the Ontario government, was considering removing the marketing authority of the Ontario Processing Vegetable […] Read more
EU wheat exports to shrink, shift eastward
With poor quality and yields in France, countries like Romania, Bulgaria and Germany could see a boost in exports
PARIS, France (Reuters) — A plunge in wheat production and uncertain crop quality in France could sideline the European Union’s top exporter from overseas markets and push down overall EU wheat exports. However, EU members Romania and Bulgaria should benefit from bumper harvests, while Germany and Poland could win sales from France if rain does […] Read more
