Markets
SINGAPORE, June 2 (Reuters) – Asian mills that churn out animal feed are buying large volumes of wheat for a second year, shifting away from corn as supplies of that grain dwindle following drought in key exporter Brazil. Indonesia has bought over 1 million tonnes of feed wheat this year, while Thailand has locked in […] Read more
Markets
Asian feed mills snap up wheat cargoes, replace corn for 2nd year
Soybeans surge to near two-year highs
CHICAGO, June 2 (Reuters) – U.S. soybean futures soared to their highest in nearly two years on Thursday on hopes that export demand will rise amid concerns about the quality of the crop being harvested in Argentina. Corn firmed to its highest since July 2015, supported by forecasts for a reduced harvest in Brazil. Wheat […] Read more
India sticks with above normal monsoon forecast
NEW DELHI, June 2 (Reuters) – India’s weather office on Thursday stuck to its initial forecast for above average monsoon rains in 2016, boosting hopes for a revival in farm output which could translate into lower food prices and also lower interest rates. The June-September monsoon rains would be 106 percent of a long-term average, […] Read more
VIDEO: Canada’s agricultural markets update – June 1, 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:
LIVESTOCK-CME live cattle futures close mixed; hogs higher
CHICAGO, June 1 (Reuters) – Chicago Mercantile Exchange live cattle futures finished mixed on Wednesday after the morning’s higher wholesale beef prices prompted traders to buy the June contract and simultaneously sell August, traders said. June live cattle closed up 0.325 cent per lb to 121.425 cents, and August ended 0.600 cent lower at 117.450 […] Read more
China pork prices sizzle as frozen reserves fail to cool market
BEIJING, June 1 (Reuters) – Pork prices in China are climbing at a blistering pace despite government moves to cool markets in the world’s top consumer of the meat by selling chunks of its frozen reserves. Government data released on Wednesday showed Chinese pork prices hit record levels this week, driven up as farmers hold […] Read more
EU set to consider temporary extension of glyphosate licence over cancer row
BRUSSELS, June 1 (Reuters) – The European Commission will propose a temporary 12 to 18 month extension of EU authorisation for the weed killer glyphosate, used in Monsanto’s Roundup, to allow time for a new scientific study into fears it may cause cancer. After failing to win support for an initial proposal for a 15-year […] Read more
Ukraine 2016 sunflower area expands by 15 percent
KIEV, June 1 (Reuters) – Ukraine has almost completed the 2016 sunflower sowing, seeding a total of 5.3 million hectares, 15 percent more than a year earlier, the agriculture ministry said on Wednesday. The ministry gave no explanation for the sharp jump in the sowing area, though analysts and producers have said that farmers are […] Read more
Canola eases off on good weather
American crop futures markets were closed for the Memorial Day holiday Monday, but ICE Futures Canada was open. Canola eased off on good growing conditions and prospects for sufficient moisture to carry most of the western Canadian crop into mid-June. A major rain system was expected to hit eastern Saskatchewan and across southern Manitoba Monday […] Read more
Barley price may be as good as it gets
Even near-drought conditions haven’t given the feed barley market a rally, and farmers are having trouble moving the last of their 2015-16 crop. However, marketers warn that bearish factors are looming in the future, so farmers shouldn’t assume a rally is inevitable. “With the lack of rain, guys just aren’t willing to pull the trigger […] Read more
