Markets
Friday’s U.S. Department of Agriculture monthly reports either had no impact on grain markets or such balanced impacts that it seemed like almost nothing happened. Errol Anderson of Pro Market thinks it was the latter. “The global corn ending stocks were relatively bullish, but the global wheat ending stocks were relatively bearish, so USDA threw […] Read more
Markets
USDA reports have little impact on markets
Record heavy carcasses jolt cattle prices from record highs
In an historical context, prices for fed and feeder cattle are still excellent. Still, you couldn’t help but wince last week as the Chicago live cattle nearby contract fell US10.625 cents per pound, or almost eight percent. Prices fell about $13 over the last two weeks of September. The Canfax Canadian cash steer weighted average […] Read more
Brazil’s new ports solving country’s export problems
MINNEAPOLIS, Minn. — Brazil’s investments in grain transportation infrastructure are beginning to pay off. The country has long had the ability to produce huge corn and soybean crops, but it struggled to get those crops to overseas markets in a timely manner. Poor road and rail infrastructure and over-crowded ports slowed the pace of it […] Read more
Currency devaluation helps Brazilian farmers
MINNEAPOLIS, Minn. — Brazilian soybean farmers are making money hand over fist. Growers are expected to average $117 of profit per acre in 2015-16. The profit is the margin over costs, but land rent costs were not included in the calculation. “We expect to have the largest profit on record, and that’s because of currency […] Read more
Canola growers welcome forecast for oilseeds
Low oil content in this year’s crops and changes in the U.S. biofuel mandate could cause soybean oil demand to surge
MINNEAPOLIS, Minn. — A leading oilseed analyst is bearish about soybean prices but bullish about soybean oil prices, which is good news for canola growers. “If soy oil’s (price) goes up, that’s a huge boon for any oilseed that has higher oil content,” said Bill Lapp, president of Advanced Economic Solutions. He is forecasting a […] Read moreWP livestock report
HOGS stronger Strong demand heading into U.S. National Pork Month in October helped lift cash hog prices in the United States. Consumer demand for low cost pork is solid in the face of what were sky high beef prices through the summer and early fall, although beef is falling now. There was some concern that […] Read more
Canfax report
This cattle market information is selected from the weekly report from Canfax, a division of the Canadian Cattlemen’s Association. More market information, analysis and statistics are available by becoming a Canfax subscriber by calling 403-275-5110 or at www.canfax.ca. Fed cattle sharply lower The Canfax weighted average steer price was $160.73 per hundredweight, down $8.94 and […] Read more
Could El Nino spark Russian drought?
MINNEAPOLIS, Minn. — Weather history suggests next year could turn into a bull market for grains and oilseeds, says a meteorologist. “Some of the things happening now are kind of eerily similar to what we saw happening about six years ago,” said Corey Cherr, head of agriculture and weather research and forecasts with Lanworth, Thomson […] Read more
VIDEO: Canada’s agricultural markets update – October 7, 2015
D’Arce McMillan, The Western Producer markets editor, monitors trends in the North American and global agricultural markets. Each week he hosts three markets videos, oilseeds, cereals, and livestock. The videos are designed to help viewers understand the forces responsible for changes in the trade. If agricultural markets are important to you, we have you covered. […] Read more
Vigorous short-covering drives CME live cattle futures higher
CHICAGO, Oct 7 (Reuters) – Chicago Mercantile Exchange live cattle closed higher on Wednesday, fueled by active short-covering in anticipation of cash and wholesale beef prices bottoming out soon, traders said. Spot October finished 4.225 cents per lb higher at 129.350 cents, and December up 2.925 cents at 136.150. “So many of these holders of […] Read more
