Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange (CME) live cattle futures firmed on Monday, recovering from a seven-week low hit last week, on optimism that the US$1.9 trillion COVID-19 relief bill will spur the U.S. economy and bolster demand for meat, traders said. CME April live cattle futures settled up 0.325 cent at 119.35 cents/lb., […] Read more
U.S. livestock: Cattle, hogs firm as U.S. stimulus plan fuels optimism
Relief bill expected to lift meat demand
Few alterations seen in new global supply/demand report
IGC expecting more corn grown this year
Reading Time: < 1 minute MarketsFarm — There were few notable changes in the latest monthly supply-and-demand report from the International Grains Council (IGC) on Thursday. One of the more significant alterations was its 1.42 per cent increase to total global production from that in 2019-20, at nearly 2.216 billion tonnes. It also raises its estimate for this marketing year’s […] Read more
Canadian flax prices, exports going up
Reading Time: 2 minutes MarketsFarm — High demand and an accompanying increase in overseas exports have resulted in reduced domestic supply for Canadian flaxseed, helping drive prices for the crop to highs unseen in years. Marlene Boersch, owner of Mercantile Consulting Venture in Winnipeg, said the amount of flax from Canada going to the U.S. and European Union is […] Read more
Pulse weekly outlook: Adversity bolsters chickpea bids
'Other crops just pencil in better'
Reading Time: 2 minutes MarketsFarm — Canadian chickpea prices have either stayed firm or slightly went up as the pulse runs into more than its fair share of adversity. Limited supply, reduced demand and environmental factors have all affected the long-term prospects of the crop at home and abroad, according to Colin Young of MidWest Grain in Moose Jaw. […] Read more
Pulse weekly outlook: Export demand supports lentils
India set to extend current tariff reductions
Reading Time: < 1 minute MarketsFarm — Lentil prices in Western Canada saw a counter-seasonal rally at the end of harvest and are likely to sustain that rally into winter. “Prices are going to keep going higher,” Darcy Barie, a commodity buyer with Verdient Foods at Vanscoy, Sask., said. Ahead of the 2020 harvest, red lentils were around 24 cents/lb. […] Read more
Canada’s wheat ending stocks projections raised
Reading Time: < 1 minute MarketsFarm — Canadian wheat ending stocks for the current 2020-21 marketing year are forecast to be larger than earlier expectations, according updated supply/demand estimates Thursday from Agriculture and Agri-Food Canada. All-wheat ending stocks for 2020-21 are now forecast at 6.3 million tonnes, which compares with the September estimate of 5.9 million. The total wheat carryout […] Read more
ICE weekly outlook: ‘Demand-pull’ environment supports canola
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, moving back toward the contract highs hit in September. Canola is pushing upside chart limits and modest corrections are likely going forward, but the fundamentals remain supportive and “the trend is up until further notice,” said analyst Mike Jubinville of MarketsFarm Pro. […] Read more
AAFC lowers wheat carryout estimate, raises canola
Reading Time: 2 minutes MarketsFarm — Updated supply and demand estimates from Agriculture and Agri-Food Canada call for tighter wheat carryout for the 2020-21 crop year than previous forecast — and more canola. Tursday’s report provides the first adjusted balance sheet estimates from the government agency that account for the latest production numbers from Statistics Canada released earlier in […] Read more
ICE weekly outlook: Canola shows volatility after long weekend
Reading Time: 2 minutes MarketsFarm — Although there remains a lot of canola to be combined, one trader believes most harvest pressure on the market has already passed. “The farmers who wanted to sell off of the combine or shortly after, probably have done so already,” said Jerry Klassen, an independent Winnipeg commodities trader. There will still be some […] Read more
U.S. livestock: Hogs tumble on bigger-than-expected supply, economic concerns
Rising COVID-19 counts raise fears for beef demand
Reading Time: 2 minutes Chicago | Reuters — U.S. lean hog futures plunged by as much as the daily trading limit on Friday and ended sharply lower after the U.S. Department of Agriculture (USDA) estimated supplies above already-high trade expectations. Economic concerns amid rising novel coronavirus infections added pressure to hogs and also dragged down cattle futures, which finished […] Read more
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