Markets
TORONTO — Chuck Penner is not concerned that Canadian farmers will likely produce a lot more peas than last year. The analyst from LeftField Commodity Research is forecasting 4.8 million tonnes of production compared to 3.2 million tonnes in 2015-16. The anticipated increase is the result of more seeded acres and better crop conditions. Statistics […] Read more
Markets
Analysts say hike in peas offset by strong exports
WP livestock report
Hogs futures fall Falling pork prices weighed down the U.S. cash hog market. The U.S. national live price average for barrows and gilts was US$59.43 per cwt. July 8, down from $61.28 July 1. U.S. hogs averaged $76.33 on a carcass basis July 8, down from $81 July 1. The U.S. pork cutout was $89.48 […] Read more
VIDEO: Canada’s agricultural markets update – July 13, 2016
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. Crops:
Bank of Canada cuts 2016 growth forecast, warns on housing risks
OTTAWA, July 13 (Reuters) – The Bank of Canada cut its growth forecast for 2016 but held rates steady on Wednesday, saying exports continued to disappoint and acknowledging it may have underestimated structural challenges facing businesses. In explaining its decision to leave interest rates unchanged even as it cut its expectations for Canadian and global […] Read more
U.S. corn yields could swell further from USDA’s big forecast
WASHINGTON, July 12 (Reuters) – The U.S. Agriculture Department is likely to boost its already massive forecast for corn yields in the coming months as historical data show its estimates of big crops tend to grow as harvest nears. The prospect of corn plantings that could yield upwards of the 168 bushels per acre forecast […] Read more
Supply worries again sink CME live cattle to 5-year low
CHICAGO, July 12 (Reuters) – Chicago Mercantile Exchange live cattle futures on Tuesday sank to a five-year low for a second straight session in anticipation of weak cash prices by Friday, traders said. August ended 0.450 cent per lb lower at 108.900 cents, and earlier posted a new contract low of 108.175 cents. October finished […] Read more
CME live cattle futures gain on cash price discount
CHICAGO, July 8 (Reuters) – Chicago Mercantile Exchange live cattle futures gained modestly on Friday, but eased from session highs, helped by their discounts to this week’s cash prices that fell shy of expectations, traders said. August ended 0.425 cent per lb higher at 112.225 cents, and October finished up 0.100 cent to 112.325 cents. […] Read more
CME live cattle drop as funds roll August positions
CHICAGO, July 7 (Reuters) – Chicago Mercantile Exchange live cattle futures closed lower on Thursday following the roll by funds out of August into deferred months ahead of similar moves beginning on Friday, traders said. Friday is the first of five days in which funds in CME’s live cattle and lean hog markets that track […] Read more
‘An awful lot of lentils’ may be coming
There were only a couple of surprises in Statistics Canada’s June seeding intentions report but one was a doozy. “What jumped out to me the most was the lentils,” said Derek Squair, president of Agri-Trend Marketing. Statistics Canada estimates a record-shattering 5.8 million acres of lentils, which is 48 percent higher than last year and […] Read more
More corn acres, large carryover hurts price
Additional corn area will give users more confidence in getting adequate supply even if hot weather arrives
Farmers in the United States found an extra 3.3 million acres of corn, soybeans and wheat to put in the ground between the March and June planting intentions reports. The number in the U.S. Department of Agriculture seeded acreage report June 30 that caught analysts by surprise was the estimate for 94.1 million acres of […] Read more
