Chicago | Reuters — Chicago Mercantile Exchange extended their rally on Monday, with strong cash prices and technical buyers pushing the market higher. Live cattle contracts have risen for eight straight sessions and feeder cattle contracts have posted gains for five sessions in a row. But hog futures closed weaker even as pork prices surged […] Read more
U.S. livestock: CME cattle futures rise, hog futures dip
Wholesale pork highest since mid-November
Rain needed for soybeans, other southern Manitoba crops
Seeded soybeans projected to be up more than 40 million acres from 2022
MarketsFarm – When Toban Dyck started to plant his 600-plus acres of soybeans this year, the soil in the Winkler, Man. area had pretty decent moisture content. But following the combination of hot temperatures and strong winds with little rainfall in May, precipitation is now much needed. “There’s still a little bit of moisture there. […] Read more
Prairie Forecast Update: Forecast pretty much on track
Update issued June 4, covering June 4-7, 2023
The heat and humidity moved into a large portion of the Canadian Prairies late last week and over the weekend as the previous general forecast played out pretty close to what the weather models predicted. There is not much change in the forecast for the next three days. The heat and humidity will continue across […] Read more
U.S. escalates dispute with Mexico over GM corn
Canada 'considering next steps'
Mexico City | Reuters — The U.S. is escalating its conflict with Mexico over agriculture biotech measures, including the stance on genetically modified (GM) corn, by requesting dispute settlement consultations, senior officials of the U.S. Trade Representative’s office said on Friday. The North American neighbours are inching closer to a full-blown trade dispute under the […] Read more
U.S. livestock: CME cattle extend rally on surging cash market
Lean hogs follow firm trend
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures extended their run of life-of-contract highs on Friday, supported by a jump in cash cattle prices this week along with rising beef prices, traders said. Benchmark CME August live cattle futures settled up 0.525 cent at 172.9 cents/lb. after posting a contract high at 174.25 […] Read more
U.S. grains: Corn, soy up on weather worries, macroeconomic optimism
Black Sea tensions, China weather support wheat
Chicago | Reuters — U.S. corn and soybean futures closed higher on Friday, lifted by bargain-buying following this week’s multi-month lows, dryness in the Midwest crop belt and spillover strength from equities and crude oil, traders said. Wheat followed the firm trend, drawing additional support from weather concerns in China and tensions over a shipping […] Read more
U.S. livestock: CME live cattle soar as cash prices explode
Lean hog futures mostly lower
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures surged on Thursday as cash cattle traded as high as US$180/cwt in Texas and Kansas, up to US$9 higher than last week, reflecting strong demand from meat-packers amid rising beef prices and tightening cattle supplies, traders said. CME’s most-active August live cattle futures contract settled […] Read more
Ukraine says Russia again blocking Black Sea grain export deal
Russia seeks ammonia transit via Pivdennyi
Kyiv | Reuters — Ukraine’s ministry of renovation and infrastructure said on Thursday the U.N.-brokered Black Sea grain export deal had been halted again because Russia had blocked registration of ships to all Ukrainian ports. A U.N. spokesman said Russia had informed officials overseeing the initiative that Moscow would limit registrations to the port of […] Read more
Insects posing problems in Saskatchewan crops
Grasshopper, flea beetle damage already reported
MarketsFarm – Although it’s still early in the growing season, some insect pests have already posed a threat to crops in Saskatchewan or could do so in the near future, according to James Tansey, provincial specialist for insects/invertebrate pest management. Among the pests he cited were grasshoppers, flea beetles and pea leaf weevils. Tansey said […] Read more
Feed weekly outlook: Weather market will determine grain prices
Old-crop pricing is starting to come down
MarketsFarm – To Glen Loyns of JGL Commodities at Moose Jaw, Sask., feed grains on the Canadian Prairies are in a weather market, with prices for barley, wheat and corn quite able to go either way. “If it rains it’s going to be weak. If it’s dry it’s going to be higher. A pretty tough […] Read more