Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed lower Wednesday, led by weakness in feeder cattle futures and profit-taking after a near two-week high, traders said. CME feeder futures set the tone, falling one per cent as corn futures jumped on worries about dry U.S. weather, a move that signaled higher costs […] Read more
U.S. livestock: CME feeder cattle fall on corn rally
CME lean hogs end lower
ICE weekly outlook: $1,000 canola not a guarantee
Reading Time: < 1 minute MarketsFarm — Any idea of canola hitting $1,000 per tonne in the near future is not the sure thing some people may have thought it was, according to Errol Anderson, an analyst with ProMarket Communications in Calgary. “New-crop futures might take a run at $1,000 per tonne, but in the same breath the November contract […] Read more
CBOT weekly outlook: Inflation another major concern for traders
Reading Time: 2 minutes MarketsFarm — While weather has become a primary factor in rising commodity prices over the past week, traders at the Chicago Board of Trade are also paying close attention on inflation. Earlier Wednesday morning, the U.S. Bureau of Labor Statistics announced that the producer price index (PPI) increased by one per cent, more than expected, […] Read more
U.S. grains: Corn, soybeans up on weather worries
MGEX, CBOT September wheats also gain
Reading Time: 2 minutes Chicago | Reuters — U.S. corn and soybean futures hit their highest in nearly two weeks on Wednesday as forecasts called for dry weather in the Midwest crop belt next week and continued dryness in the northern Plains, threatening crop prospects, analysts said. Chicago Board of Trade December corn settled up 18 cents at $5.58-3/4 […] Read more
U.S. livestock: Live cattle firm on cash market optimism
CME lean hogs also advance
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed higher on Tuesday for a second session, supported by expectations for a slowdown in supplies of market-ready cattle that should lift cash prices, analysts said. “The (cattle) numbers start to tighten as we move forward and get closer to August. That is giving some […] Read more
U.S. grains: Corn up on supply worries
Soy futures follow veg oils higher
Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures rose on Tuesday on concerns about tightening grain supplies while soybean futures advanced on strong global vegetable oil markets, analysts said. Wheat futures turned lower on profit-taking after rallying on supply concerns a day earlier. Chicago Board of Trade September corn futures settled up six cents at $5.51-1/4 […] Read more
Klassen: Feeder market consolidates
Reading Time: 2 minutes Compared to last week, western Canadian feeder cattle markets traded $2-$3 on either side of unchanged. In central and southern Alberta, quality yearling steers weighing 800 lbs. continue to hover at the psychological range of $200-$210; lower-flesh steers fresh off grass weighing 900 lbs. are readily quoted in the range of $185-$190. Saskatchewan values are […] Read more
U.S. livestock: Hog futures rise as pork production estimates cut
Feeder cattle down on rising grain values
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange lean hog futures jumped on Monday as the U.S. Department of Agriculture reduced its domestic pork production estimates for this year and next year. The USDA cut its production estimates because of reduced expectations for commercial hog slaughtering in the second half of the year, according to a […] Read more
U.S. grains: Wheat futures rally after U.S. slashes harvest estimates
Agency raises U.S. corn crop forecast from June
Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures climbed on Monday on lower-than-expected production estimates for domestic crops damaged by searing weather and drought, analysts said. Corn and soybean futures also jumped. The U.S. Department of Agriculture, in a monthly report, slashed its harvest outlook for spring wheat other than durum by 41 per cent from […] Read more
Net long position in canola nears lowest level of past year
Reading Time: < 1 minute MarketsFarm — The managed money net long position in canola has edged down over the past few months, moving to its lowest level in nearly a year in the latest commitment of traders report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders as of Tuesday were holding a net long position […] Read more
A message from April Stewart, Country Guide's Associate Editor
