Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts started the new year on a firm footing, with little sign that the ongoing strength will end anytime soon. “Is canola expensive? Yes, but everything is expensive,” said analyst Mike Jubinville of MarketsFarm. While canola may look overpriced by some metrics, he noted the high prices were necessary to […] Read more
ICE weekly outlook: Canola strength shows no signs of fading
U.S. livestock: CME live cattle down on lagging slaughter rates
Lighter supplies support lean hog futures
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange live cattle futures eased for a fifth consecutive session on Wednesday, pressured by lagging slaughterhouse production, analysts said. “We’re just not processing cattle fast enough. Some of the supply chain bottle necks that have affected the cattle market up to this point, they still remain in play,” said […] Read more
U.S. grains: Soybeans up with session peak highest since July
Corn, wheat ease
Reading Time: 2 minutes Chicago | Reuters — Chicago soybeans ended stronger on Wednesday after trading both sides of even and hitting the highest in nearly five months, supported by extreme weather in South America that could result in yield losses. Corn eased after also rallying on South American weather risks, while wheat followed. The most-active soybean contract on […] Read more
U.S. livestock: CME live cattle, lean hogs dip on regulatory concerns
Biden proposal seen improving producers' cut of price
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle futures eased on Tuesday, pressured by new federal efforts to address a lack of competition in the U.S. meat processing sector. The initiative, announced by U.S. President Joe Biden on Monday, includes funding for more independent meat processors, strengthening enforcement of the Packers and Stockyards Act, […] Read more
U.S. grains: Soybeans, corn supported by South America dryness
Wheat ratings decline in Kansas, Oklahoma, USDA says
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean and corn futures climbed on Tuesday, underpinned by dry weather in parts of South America that could hurt yields in rival export markets, while wheat rose after a three-session decline. The most-active soybean contract on the Chicago Board of Trade (CBOT) closed 34-1/4 cents higher at $13.89-3/4 a bushel, […] Read more
U.S. livestock: Nearby CME live and feeder cattle futures ease
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange live cattle futures eased on Monday, remaining near recent highs as back-month contracts climbed to new highs on expectations of tighter supplies to come. CME February live cattle futures settled down 0.775 cent at 138.925 cents/lb., though back-month contracts starting with August 2022 found new life-of-contract highs (all […] Read more
U.S. grains: Soy climbs on South American weather
Corn also underpinned by weather, brisk demand
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean futures ended higher on Monday, supported by risks of hot and dry weather for South American crops as they near harvest. Wheat fell, pressured by a stronger U.S. dollar, pulling corn lower. The most active soybeans contract on the Chicago Board of Trade (CBOT) ended 16-1/4 cents higher at […] Read more
Prairie cash wheat: Bids down despite cold weather, Russian tensions
Reading Time: 2 minutes MarketsFarm – Despite a wide array of factors which would have provided support to prices, Prairie wheat was in the red for the week ended Dec. 30. With areas already experiencing dry conditions, a large cold snap hit both the Prairie provinces in Canada and the Southern Plains in the United States. For the latter, […] Read more
ICE weekly outlook: Hard to say where canola is going
Reading Time: < 1 minute MarketsFarm – There was a first for canola on Dec. 29, in that three contracts exceeded C$1,000 per tonne at the same time. In the sharp upswing during that Wednesday morning on the Intercontinental Exchange, the nearby January, March and May canola contracts respectively reached new highs with the former hitting the daily limit of […] Read more
U.S. livestock: CME hog futures touch four-week high
Chicago cattle futures ease
Reading Time: 2 minutes Chicago | Reuters — U.S. hog futures rose for the fourth straight trading session on Monday, as the market continued to see support from a government report last week that showed smaller-than-expected national inventory numbers, traders said. Most-active February hog futures settled the day up 0.425 cent at 83.65 cents/lb. (all figures US$). Earlier in […] Read more
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