Reading Time: 2 minutes MarketsFarm — Upcoming reports from the U.S. Department of Agriculture are expected to steer Chicago Board of Trade (CBOT) futures, at a time when high corn prices in the U.S. may be cutting into ethanol production in that country. According to the U.S. Energy Information Administration’s report released on March 3, 849,000 barrels of ethanol […] Read more
CBOT weekly outlook: High U.S. corn prices cut into ethanol production
U.S. livestock: Lean hogs up on new swine fever outbreak in China
April live cattle down, feeders up
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange lean hog futures jumped on Wednesday as China reported a new outbreak of a deadly pig disease, raising expectations that Chinese importers could increase U.S. purchases. China’s farm ministry confirmed African swine fever in piglets being illegally transported through Funing county in the southwestern province of Yunnan. The […] Read more
U.S. grains: Soy futures consolidate after gains
Excess rain in Brazil underpins soy, corn futures
Reading Time: 2 minutes Chicago | Reuters — U.S. grain and soybean futures fell on Wednesday as the markets consolidated after rallying in the previous session. Strength in the U.S. dollar weighed on prices, analysts said, because a firm dollar makes U.S. farm products less attractive to importers (all figures US$). For soybeans, there was a “lack of fresh […] Read more
U.S. grains: Soy, corn up on unfavourable South American weather
USDA lowers ratings for Kansas, Texas wheat crops
Reading Time: 2 minutes Chicago | Reuters — U.S. grain and soybean futures rose on Tuesday in a turnaround from losses the previous session, as concerns increased about unfavorable weather in crop-growing regions of South America. Traders are watching the effects of heat and dryness in Argentina and rains in Brazil amid worries about potential yield losses. The countries […] Read more
U.S. livestock: Lean hogs down off recent gains
April live cattle end up off five-week low
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange lean hog futures dropped 2.7 per cent on Tuesday as the market retreated from recent surges. Profit-taking has weighed on prices since most-active April hog futures reached a life-of-contract high on Thursday. Still, traders said robust Chinese demand for pork imports is underpinning the futures market. Traders are […] Read more
U.S. livestock: Live cattle hit five-week low
Technical selling, weaker beef prices bring pressure
Reading Time: 2 minutes Chicago | Reuters — Technical selling on Monday drove Chicago Mercantile Exchange live cattle futures to their lowest prices in more than five weeks, while lean hog futures recovered from a sell-off. The cattle market’s losses brought the most-active April contract down six per cent from a life-of-contract high reached on Feb. 16. Strong domestic […] Read more
U.S. grains: Corn, soy, wheat futures ease in setback from surges
Sovecon raises Russian wheat export forecast
Reading Time: 2 minutes Chicago | Reuters — U.S. grain and soybean futures eased on Monday in a setback from rallies driven by concerns about tight crop supplies. The markets will likely not decline too sharply, traders said, because of strong demand from China and the need for large global harvests. In corn, speculative bullishness in corn remains near […] Read more
U.S. grains: Profit taking pressures wheat, corn, soybeans
Warmer spell also drags on winter wheat futures
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade wheat futures slid 2.8 per cent on Friday, their second straight day of declines, on a profit-taking setback as warming weather in the U.S. reduced the threat of damage to the dormant crop, traders said. Corn and soybean futures also were weaker but closed well above session […] Read more
U.S. livestock: Hog futures drop on end-of-month profit taking
Live cattle book biggest one-day drop since November
Reading Time: < 1 minute Chicago | Reuters — U.S. hog futures dropped 2.9 per cent on Friday, with traders locking in profits from the rally on the last session of February. The loss, which pulled the market from the nearly two-year high hit on Thursday, was the biggest for hogs in percentage terms since Nov. 19. It snapped a […] Read more
U.S. livestock: Hogs firm on follow-through buying, cash strength
U.S. beef export sales down on week
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange live hog futures rose for the fourth day in a row on Thursday, hitting its highest since May 2019 on follow-through buying after rising the daily trading limit on Wednesday, traders said. Strength in the cash market also supported hog prices but the market closed off its high […] Read more
A message from April Stewart, Country Guide's Associate Editor
