Markets
Canola futures continued their march upward today, with prices nearing highs not seen since last summer. The July canola contract in Winnipeg closed the day at $524 per tonne, up $6.00 per tonne. New crop canola also had a positive day. The November futures contract gained $5.10 per tonne to finish at $529.10. Canola futures […] Read more
Markets
Canola posting sustained gains
GRAINS – U.S. soybeans, corn, wheat futures rise with temperatures
CHICAGO, June 8 (Reuters) – Chicago Board of Trade soybean futures jumped 3 percent to their highest in nearly two years on Wednesday as forecasts for hot temperatures to hit key growing U.S. regions stoked fears of damage to nascent crops, traders said. Corn and wheat futures also rallied, putting them on track to extend […] Read more
Historic spring grain rally shifts focus to U.S. crop weather
CHICAGO, June 8 (Reuters) – Grain prices have climbed this month to their highest point of the year, in one of the steepest U.S. planting-season rallies on record, propelled by a perfect storm of acute demand, crop weather concerns, currency gyrations and speculative buying. Now U.S. farmers are nearly finished planting what could be another […] Read more
Monsoon rains arrive at India’s Kerala coast
NEW DELHI, June 8 (Reuters) – Annual monsoon rains arrived at the Kerala coast in southern India on Wednesday, a day later than forecast, a weather office source said, easing fears over farm and economic growth after two straight droughts hit rural income and agricultural output. The monsoon delivers nearly 70 percent of rains that […] Read more
Monsanto develops plan for GMO U.S. soy lacking EU import approval
CHICAGO, June 7 (Reuters) – Monsanto Co is developing plans to prevent a new variety of biotech U.S. soybeans from entering European markets where they are not approved, leaders of two agricultural trade groups said, in a sign of the growing impact of regulatory delays on the world’s largest seed maker. The company is working […] Read more
GRAINS-Soybeans rise on U.S. weather view; wheat, corn firm
CHICAGO, June 7 (Reuters) – Chicago Board of Trade soybean futures rose on Tuesday, supported by concerns about a La Nina weather pattern hindering crop development in the U.S. Midwest this summer with hot temperatures and dry conditions, traders said. Wheat futures also advanced, rising for the fifth straight day amid a round of short-covering […] Read more
Canola recovers after lower morning
Canola futures finished up today after trading lower in the morning because of weakness in the vegetable oil market. The nearby July contract on the ICE Futures Canada in Winnipeg gained 90 cents to close at $518.00 per tonne. Canola dropped early in the trading session, as soyoil prices in Chicago also declined. Soyoil futures […] Read more
LIVESTOCK: CME live cattle futures finish mostly weak, hogs lower
CHICAGO, June 7 (Reuters) – Most Chicago Mercantile Exchange live cattle contracts closed moderately lower on Tuesday after traders sold deferred months and bought June as wholesale beef values improved, traders said. June live cattle closed up 0.450 cent per lb to 121.225 cents. August ended 0.550 cent per lb lower at 116.000 cents, and […] Read more
Canada weighs options as farmers spar over U.S. milk proteins
WINNIPEG, Manitoba, June 7 (Reuters) – Canada is working on a plan to shore up its sheltered dairy industry, including measures to counter fast-rising imports of milk proteins from the United States, according to the country’s agriculture minister. Any new support risks widening a trade dispute among North America’s dairy farmers over $150 million worth […] Read more
Rain-soaked French wheat could dent European crop this year
PARIS, June 7 (Reuters) – Torrential rain in France could cut wheat yields in the European Union’s biggest grower but better conditions in countries including Germany are keeping western Europe on course for another large harvest this year. Forecasters have in recent weeks increased their expectations for EU soft wheat production, with the European Commission […] Read more
