Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures slumped to new contract lows on Friday and wheat fell to a 3-1/2-month low with a seventh daily drop in eight trading sessions as a spike in new coronavirus cases beyond China fueled fears of a pandemic. Soybeans also retreated, reversing course after three days of gains as […] Read more
U.S. grains: Crop futures slide on coronavirus fears
Corn sets new contract lows, ends mixed; wheat at 3-1/2-month low
Klassen: Calves remain firm while yearlings falter
Reading Time: 2 minutes Compared to last week, western Canadian yearling markets traded $3-$5 lower while calves and grassers traded within $5 on either side of unchanged. Calves were extremely variable with similar weight cattle sometimes trading $6-$8 apart at the same sale. Supplies of calves coming on the market appear to be lower than last year. This may […] Read more
U.S. grains: Corn, soy, wheat plunge on coronavirus worries
Reading Time: 2 minutes Chicago | Reuters — U.S. grain and soy futures tumbled on Monday as fears over the rapid spread of the coronavirus outbreak beyond China dragged down broader markets and underpinned the dollar. Technical selling further fuelled the drop, with corn and soybeans down nearly two per cent and wheat down almost three per cent. Corn […] Read more
U.S. livestock: Cattle, hogs dive as coronavirus rattles markets
April live cattle, most feeder contracts close limit-down
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange cattle and hog futures plunged on Monday as a surge of coronavirus cases beyond China stoked fears of U.S. meat export delays and slower global economic growth. The actively-traded April live cattle contract and nearly all feeder cattle contracts closed down by their daily trading limits, triggering expanded […] Read more
ICE weekly outlook: Canola values stuck in a range
Reading Time: < 1 minute MarketsFarm — Canola prices came off of the long weekend in the green, but quickly gave back those gains at midweek, remaining stagnant and rangebound. While rail blockades across the country have hampered rail activity and backed up grain shipments, cold weather has slowed down farmer movement for canola. That has insulated canola prices from […] Read more
Chickpea market steady, waits for next wave of demand
Reading Time: 2 minutes MarketsFarm — Demand for chickpeas often comes in waves, with the market currently in a lull waiting for the next swell. The last demand cycle came in early January, and the market has lacked “any kind of enthusiasm” over the past month, according to Colin Young of Midwest Grain at Moose Jaw. Within every pricing […] Read more
North American hog markets wracked by coronavirus
Reading Time: 2 minutes MarketsFarm — Besides shutting down entire cities and killing more than 1,000 people, China’s novel coronavirus outbreak has wreaked havoc on North America’s hog futures. “It’s a dubious relationship, but it is impacting markets,” said Tyler Fulton, risk management director for Hams Marketing Services in Winnipeg. Lean hog futures moved “in concert with drops in […] Read more
Rye production likely won’t increase in 2020
Reading Time: 2 minutes MarketsFarm — Strong prices served as an incentive for farmers to plant more rye in 2019, but one grower believes there won’t be as much production in 2020 due to the wet fall. “Winter cereals got seeded, but not the acres guys were planning,” said Brad White, a Saskatchewan farmer and a director with Winter […] Read more
ICE weekly outlook: Canola values steady after losses
Weaker loonie supportive for canola
Reading Time: < 1 minute MarketsFarm — Canola prices started the week plagued by reports of the rapidly-spreading coronavirus in China, but managed to shake off some of that resistance. At midweek, nearby ICE Futures canola contracts were between $461 and $470, after falling by over $8 on Monday. Crush margins have maintained strength, which supported canola values. Crush margins […] Read more
ICE weekly outlook: Canola stronger at midweek
Reading Time: < 1 minute MarketsFarm — Canola was “well supported” at midweek, bolstered by strength in comparable vegetable oils and relative weakness in the Canadian dollar. Chicago soy was underpinned by strong export demand and the expectation that the U.S. and China will sign Phase One of their trade deal next week. However, with heightened geopolitical tension in the […] Read more
A message from April Stewart, Country Guide's Associate Editor
