Reading Time: 2 minutes Chicago | Reuters — U.S. hog futures sank by their daily trading limit to contract lows on Thursday under pressure from hefty supplies and fears about the spreading coronavirus outbreak. Cattle futures also hit multi-month lows. U.S. hog supplies are large after farmers expanded their herds to supply new processing plants. But traders are now […] Read more
U.S. livestock: Hogs limit down to contract lows
U.S. grains: Soybeans set eight-month low
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures fell for an eighth consecutive session on Thursday and hit an eight-month low as the rising toll from the coronavirus outbreak in China added to concerns about Chinese demand for American crops. Wheat also eased and set a three-week low on the Chicago Board of Trade as the […] Read more
U.S. livestock: Hogs, cattle sink to multi-month lows
Ample supplies drag on cattle futures
Reading Time: < 1 minute Chicago | Reuters — U.S. hog and cattle futures dropped to fresh multi-month lows on Wednesday. Ample supplies and weakening cash markets weighed on the cattle contracts while concerns about demand from China pressured hog futures. The pressure on cattle comes at a time of year when the market tends to find support due to […] Read more
ICE weekly outlook: Canola values steady after losses
Weaker loonie supportive for canola
Reading Time: < 1 minute MarketsFarm — Canola prices started the week plagued by reports of the rapidly-spreading coronavirus in China, but managed to shake off some of that resistance. At midweek, nearby ICE Futures canola contracts were between $461 and $470, after falling by over $8 on Monday. Crush margins have maintained strength, which supported canola values. Crush margins […] Read more
CBOT weekly outlook: Soybeans oversold
Reading Time: 2 minutes MarketsFarm — Sharp losses in Chicago Board of Trade soybeans over the past month are looking overdone, according to an analyst who expects the lows may be in for the time being. March soybeans lost roughly 60 U.S. cents per bushel since the beginning of January, with the latest concerns over the coronavirus in China […] Read more
U.S. grains: Wheat, corn, soybeans drop
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures fell 1.4 per cent on Wednesday on a round of follow-through selling after Tuesday’s technical setback, traders said. The weakness in wheat spilled over to the corn market, which also faced some profit-taking after a higher opening during the overnight trading session. Soybean futures fell for the seventh […] Read more
U.S. grains: Soy, wheat extend losing streaks
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures fell on Tuesday for the sixth day in a row, with investors waiting for signs of the pickup in Chinese demand promised when Washington and Beijing signed the Phase One trade deal on Jan. 15, traders said. Wheat futures also drifted lower, their third straight day of losses, […] Read more
U.S. livestock: Hogs firm, cattle mixed after limit-down moves
Reading Time: 2 minutes Chicago | Reuters — U.S. hog contacts firmed on Tuesday, edging off a 5-1/2-month low hit on Monday on a mild round of bargain buying. Cattle futures were mixed, with the most-active fed cattle contracts also bouncing slightly while live cattle futures weakened to the lowest since Oct. 21. Fears about the spread of a […] Read more
Virus concerns add more uncertainty to cattle market
Reading Time: 2 minutes MarketsFarm — Cattle futures in Chicago dropped hard over the past few days, as mounting concerns over the new coronavirus in China triggered a broad-based selloff in global equities and commodities. While the virus adds an extra layer of uncertainty to the North American cattle market, expectations for solid beef demand should remain supportive for […] Read more
U.S. grains: Corn, soy, wheat fall on coronavirus fears
Reading Time: 2 minutes Chicago | Reuters — U.S. corn, soybean and wheat futures fell on Monday, with investors shedding risky assets amid fears the coronavirus outbreak in China could dent the global economy, traders said. “The same thing happened with the SARS outbreak, which ended up costing the global economy $40 billion in 2002-03,” Craig Turner, senior commodities […] Read more
A message from April Stewart, Country Guide's Associate Editor
