UPDATED – August 26, 2019 1445 CST – This story has been updated with the addition of comments from John Wiebold, vice president, North American direct material sourcing at General Mills. “We are working to reduce the need for synthetic pesticides”: General Mills. Over the last five years, or so, General Mills has committed to […] Read more
News
Canola futures drop; wheat down too
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Monday, caught up in a slide in the Chicago soy complex. Also, European rapeseed and Malaysian palm oil lost ground, which further weighed on canola. After parts of the Prairies received rain over the weekend, the MarketsFarm forecast has called for warm temperatures […] Read more
Oats market steady, watching harvest
Winnipeg, (MarketsFarm) – The Western Canadian oats market is stable at prices a bit better than a year ago, as the harvest gets underway and participants wait to see how much will be moving off the combine to the market. Early yield reports are ranging anywhere from 80 to 140 bushels per acre, said Tyler […] Read more
Taber corn takes hail hit
Taber corn will make a full appearance at the southern Alberta town’s annual Cornfest Aug. 22-25 despite severe crop damage earlier this month from a hailstorm in the Taber and Barnwell regions. The Aug. 6 storm, with winds of more than 140 kilometres per hour, drove large hailstones that wiped out area crops including the […] Read more
Tyson Foods slaughterhouse fire ignites U.S. beef prices
CHICAGO, (Reuters) – Margins for U.S. beef processors climbed to a record high on Friday as the closure of a Tyson Foods Inc slaughterhouse due to a damaging fire last week fueled concerns about a shortage of hamburger meat and steaks. The indefinite shutdown sent meat buyers for restaurants, food service companies and grocery chains […] Read more
Republican Iowa senator says Trump EPA hurt farmers with biofuel waivers
WASHINGTON, (Reuters) – Iowa’s Republican Senator Chuck Grassley said the Trump administration’s Environmental Protection Agency has “screwed” the U.S. ethanol industry and farmers by granting waivers to 31 small petroleum refineries, effectively exempting them from an obligation to use more ethanol in their products. The powerful senator, who represents the largest ethanol-producing state in the […] Read more
Canola futures stronger; wheat steady
Winnipeg, (MarketsFarm) – The ICE Futures canola market was stronger on Friday, taking some direction from Chicago Board of Trade soybeans as traders squared positions ahead of the weekend. Speculative short-covering was a feature as fund traders took some profits on their bearish bets, according to a trader. Solid crush margins added to the firm […] Read more
Feds extend cash advance repayment
The federal government is giving farmers a six-month reprieve in repaying their 2018 cash advances. Growers now have until March 31, 2020 to pay off cash advances on grains, oilseeds and pulses. The original deadline was Sept. 30. “Our government is working closely with our farmers to meet their needs and is taking many concrete […] Read more
No long term feed grain shortage
WINNIPEG, (MarketsFarm) – Waiting for the 2019 harvest to roll in is the only factor that could create a feed shortage, according to Brandon Motz of CorNine Commodities in Lacombe, Alta. “As far as things look today, I don’t see a reason to be concerned about a feed shortage. If anything we could have a […] Read more
Saskatchewan harvest begins, behind pace
WINNIPEG, (MarketsFarm) – Swathing and combining were underway as of the week of August 6 to 12, according to the Saskatchewan crop report released on Thursday. At this point the harvest was behind the five-year average of four per cent complete and last year’s pace at this time of five per cent. The fall rye […] Read more
