Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures set contract highs on Thursday as the U.S. Department of Agriculture (USDA) slashed its production forecast for the variety that is grown in the U.S. Plains and used to make bread. USDA, in a monthly crop report, projected hard red winter wheat output at 590 million bushels, down […] Read more
U.S. grains: Wheats up on ‘indisputably bullish’ cuts to harvest estimates
MGEX July wheat limit up, K.C. July wheat hits contract high
U.S. livestock: CME cattle, hogs weaken amid demand concerns
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange livestock futures fell on Thursday, as high meat prices are threatening U.S. demand, analysts said. Concerns that inflation could remain elevated for longer than anticipated weighed on the markets because higher prices could reduce meat sales, analysts said. Traders also watched a rise in prices for grain used […] Read more
ICE weekly outlook: Conditions a challenge for Prairie canola
Reading Time: < 1 minute MarketsFarm — Wet conditions throughout much of the eastern half of the Canadian Prairies continued to delay spring planting this week. Meanwhile, the western half of the region remained mired in drought and in need of rain to help recently-seeded crops get off to a good start. “Get it in the ground and get some […] Read more
U.S. livestock: CME lean hogs drop to January lows on demand worries
Live cattle up, feeder cattle down
Reading Time: < 1 minute Chicago | Reuters — CME lean hog futures on Wednesday fell to their lowest prices since January amid concerns about demand for U.S. pork, analysts said. Inflation and a decline in U.S. pork exports to China, the world’s top pork consumer, are hurting demand, analysts said. The consumer price index rose 8.3 per cent in […] Read more
U.S. grains: Supply worries, weather spur rallies
Market awaits USDA world crop report; rains delay U.S. spring wheat plantings
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade grain and soybean futures jumped on Wednesday, as traders uneasy about world supplies adjusted positions a day before the release of U.S. crop data. Concerns about poor global crop weather helped support gains, with MGEX spring wheat futures setting contract highs as rains prevent plantings in the […] Read more
Klassen: Feeder market starts seasonal rally
Ontario demand leads charge higher in Manitoba
Reading Time: 2 minutes Compared to last week, western Canadian yearling markets traded $4 to as much as $6 higher on average. Calf markets were sharply higher. Auction barns in Manitoba reported calf prices up $8-$10 on average with certain pockets up as much $15. Calf markets in Alberta and Saskatchewan were up a solid $5-$8 from week-ago levels. […] Read more
U.S. livestock: CME lean hogs firm nearby
Outside markets pressure live cattle
Reading Time: 2 minutes Chicago | Reuters — CME’s nearby lean hog futures firmed on Tuesday, incentivizing producers to sell market-ready hogs rather than hold them for premiums later in the summer, analysts said. High futures prices “may have encouraged producers to take a little more risk,” said Altin Kalo, economist at Steiner Consulting Group. “When you’ve got such […] Read more
U.S. grains: Chicago grains firm after planting-inspired decline
USDA world report eyed for gauge of Ukraine war, harvest prospects
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean futures edged up on Tuesday, a day after sliding on macroeconomic worries, as traders assessed U.S. planting progress. Wheat traded near even, pressured by recent rainfall across the U.S. Great Plains, though global supply concerns underpinned the market, while corn traded near even, supported as the pace of planting […] Read more
U.S. livestock: CME live cattle firm on strong packer demand
Export demand concerns drag on hogs
Reading Time: 2 minutes Chicago | Reuters — CME live cattle futures firmed on Monday, supported by strong packer demand that supported cash prices, indicating a bullish outlook for summer month futures, analysts said. “Packer behaviour has been bullish for several weeks now. They are going after the cattle,” said Dennis Smith, commodity broker at Archer Financial. “I suspect […] Read more
U.S. grains: Corn, soybeans ease on expected planting progress
Weather in U.S., India, France adds to Ukraine wheat supply fears
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean futures fell on Monday to five-week lows as warmer U.S. weather expedited planting progress, deflating fears of added soybean acres and further cuts to corn plantings, traders said. Wheat remained underpinned by dry conditions in the U.S. and French growing belts, reinforcing global supply concerns. The most-active Chicago Board […] Read more
A message from April Stewart, Country Guide's Associate Editor
