Reading Time: 3 minutes Another of Canada’s major pork and poultry packers has reported significant net losses in its 2022 ledger, but sees “green shoots” suggesting a return to normal pork markets and stable supply chains this year. Maple Leaf Foods on Thursday reported a net loss of $311.89 million on $4.739 billion in gross sales for its fiscal […] Read more
Maple Leaf sees ‘inflection point’ beyond red ink of 2022
Packer books net losses in Q4, full-year
U.S. livestock: CME cattle set high on Brazil halting beef exports to China
April hogs close lower, June up
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle futures reached a contract high on Thursday amid hopes that Chinese importers will buy more U.S. beef after rival supplier Brazil suspended shipments to China, analysts said. Brazil said it would halt beef exports to China, the main destination for its overseas shipments, after confirming a […] Read more
China to plant more soy, speed up GMOs to ensure food supply
Beijing reiterates goals to increase soy acres, intercrop with corn
Reading Time: < 1 minute Beijing | Reuters — China will increase its efforts to boost output of soybeans and edible oils, state media reported on Monday, citing a key rural policy document, as it continues to push for greater self-sufficiency in its key food supplies. The world’s top soybean buyer is trying to lower its heavy reliance on imports […] Read more
U.S. grains: Soy futures fall on technical selling
Corn edges higher; wheat weak
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures dropped on Monday on a technical setback after rallying to the high end of recent trading ranges last week, traders said. Corn ended higher after trading in negative territory for much of the day, with the market finding support near Friday’s low. Investors were waiting for news about […] Read more
China top destination for Canadian grains, oilseeds
CGC data points to key destinations
Reading Time: < 1 minute MarketsFarm — China is the top destination for Canadian grain and oilseed exports through the first five months of the 2022-23 marketing year, accounting for roughly a third of the total movement, according to the latest monthly report from the Canadian Grain Commission. Canada has exported 6.566 million tonnes of grains, oilseeds, and pulses to […] Read more
Beef consumption to rise in China, JBS predicts
China seen as more competitive in domestic chicken, pork markets
Reading Time: < 1 minute Sao Paulo | Reuters — Demand for beef in China is expected to rise as the country still has relatively low per capita consumption, Gilberto Tomazoni, chief executive of JBS SA, said on Wednesday during a business conference. He said Brazil and the U.S., where JBS has meat facilities, are well positioned to meet China’s […] Read more
U.S. grains: Soy, corn slide on forecasts for much-needed Argentine rains
New survey calls for expanded U.S. wheat acres
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures fell on Thursday, retreating from seven-month highs set a day earlier as forecasts for beneficial rains in drought-hit Argentina sparked a round of selling, analysts said. Corn futures also declined on the outlook for Argentine weather along with wheat futures. Chicago Board of Trade March soybeans settled down […] Read more
U.S. grains: Soybeans, corn retreat off multi-month highs
Putin's comments on exports underpin wheat
Reading Time: 2 minutes Chicago | Reuters — U.S. corn and soybean futures settled lower on Wednesday as traders booked profits after both markets set multi-month highs and as weather forecasts promised much-needed rains in Argentina’s crop belt, traders said. Wheat followed the weaker trend. Chicago Board of Trade March soybeans settled down 15-1/4 cents at $15.24-1/2 per bushel, […] Read more
China driving crude oil price increases
Bulls on crude oil expect a 'very shallow' recession
Reading Time: 2 minutes MarketsFarm — China has largely been behind the current upticks in global crude oil prices, according to Tom Kloza, global head of energy analysis for Oil Price Information Services in Lakewood, NJ. He suggested that China’s economy will begin to pick up steam in 2023 after the government loosened its super-tight COVID-19 restrictions. “You can […] Read more
ICE weekly outlook: Canola’s steady week takes late turn
Outlook 'neutral to bearish'
Reading Time: 2 minutes MarketsFarm — While canola prices turned lower Wednesday, the week ending that day was full of rangebound trade activity with little movement. The March canola contract traded within a range of $832-$846.70 per tonne during the week, settling at the low end of the range after falling $5.20 on Wednesday to close at $832.70/tonne. Winnipeg-based […] Read more
A message from April Stewart, Country Guide's Associate Editor
