Reading Time: 2 minutes Mexico City | Reuters — Chicago wheat futures fell for a seventh straight session on Thursday and touched a 21-month low on export competition while corn hit a nine-month low, walloped by cancellations of U.S. corn sales to China. The most-active wheat contract on the Chicago Board of Trade (CBOT) dropped 12-3/4 cents to settle […] Read more
U.S. grains: Chicago wheat, corn hit fresh lows
Export competition, China cancellations drag on futures
U.S. livestock: Cattle futures firm as corn prices fall
Lean hog futures down on profit-taking
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange cattle futures ended firm on Thursday as corn futures sank to a nine-month low. Falling corn prices raised prospects for reduced feeding costs, traders said. Hog futures weakened, pressured by a round of profit taking after hitting their highest since April 4. The gains in cattle were kept […] Read more
ICE weekly outlook: StatCan’s canola area estimate questioned
Traders predict significant increase ahead
Reading Time: 2 minutes MarketsFarm — Statistics Canada on Wednesday released its first survey-based seeding intentions report for the 2023-24 marketing year, reporting an anticipated 0.9 per cent rise in canola acres, to 21.6 million. The figure occupied the lower end of trade expectations, but StatCan recently adopted a new methodology of conducting the survey last December and January, […] Read more
U.S. grains: Chicago wheat closes down as global supplies look strong
Market monitoring Plains rain relief, Black Sea grain talks
Reading Time: 2 minutes Mexico City | Reuters — Chicago grains and soybean futures closed lower to mixed on Wednesday, as traders eyed sluggish demand and upcoming U.S. export sales data. Wheat fell on news of ample short-term global supplies, despite the risk that an agreement allowing exports from war-torn Ukraine may end next month. Canadian farmers intend to […] Read more
U.S. livestock: Cattle rise as corn prices drop
Chicago lean hogs also strong
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange cattle futures rose Wednesday, supported by weakness in corn prices that boosted expectations for lower feeding costs, traders said. Hog futures rallied on strength in the cash markets. CME’s most-active June live cattle contract gained 0.55 cent, to 164.575 cents, rising above its 10-day moving average (all figures […] Read more
CBOT weekly outlook: U.S. rain, StatCan report biggest influences
Russia's sabre-rattling not yet swaying markets
Reading Time: 2 minutes MarketsFarm — The three to five inches of rain received Wednesday in Kansas and Oklahoma have put pressure on Kansas City and Chicago wheat prices on the Chicago Board of Trade (CBOT), according to broker Ryan Ettner of Allendale Inc. Added to that, Statistics Canada’s (StatCan) report on prospective plantings, also received Wednesday, has weighed […] Read more
U.S. grains: Chicago grains flat or down with weather, Black Sea in focus
Large Russian supplies temper fears over Black Sea deal collapse
Reading Time: < 1 minute Mexico City | Reuters — Chicago grain futures closed flat or lower on Tuesday, with wheat hitting a 21-month low, as markets were weighed down by a dip in stocks and crude oil and clear forecasts for U.S. planting weather, traders said. Corn closed slightly up as the market weighed increasing export competition from Brazil, […] Read more
U.S. livestock: Live cattle, hogs mostly weaker
Feeder cattle futures mixed
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange live cattle and hog futures contracts were mostly weaker on Tuesday, with ample supplies weighing on prices. Traders also noted pressure from poor cash market values and concerns about demand due to worries about the global economy. “There probably is a little bit of a drag from outside […] Read more
U.S. grains: Corn hits eight-month low
Soybeans, wheat at one-month low
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn futures slumped on Monday to an eight-month low after the government announced that China canceled some purchases of U.S. supplies of the grain. The cancellations, which also weighed on wheat and soybean futures that hit one-month lows on Monday, highlighted concerns about weak demand for U.S. […] Read more
U.S. livestock: Feeder cattle fall after USDA report
June hogs rise above 10-day moving average
Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange live cattle contracts edged higher on Monday, while feeder cattle contracts fell, after U.S. government data released on Friday afternoon showed bigger-than-expected supplies in feedlots. The U.S. Agriculture Department’s monthly report showed that the number of U.S. cattle on feed, as of April 1, was down four per […] Read more
A message from April Stewart, Country Guide's Associate Editor
