Canola industry stakeholders and provincial officials are to join federal officials in a co-ordinated push to resolve China’s issues with Canadian canola, cabinet ministers said Monday. Speaking Monday in Ottawa, Canada’s Agriculture Minister Marie-Claude Bibeau and International Trade Diversification Minister Jim Carr said they’ve set up a new working group including representatives from the Canola […] Read more
Canada to set up working group for China canola push
Malt barley acreage predicted to increase
MarketsFarm — Industry experts expect malt barley acreage in Western Canada to increase by about five per cent this year, supported by strong prices for both feed and malt. “All indications suggest we’ll see an increase in malt barley, as well as feed,” confirmed Peter Watts of the Canadian Malting Barley Technical Centre. In light […] Read more
U.S. grains: Corn bounces from sharp sell-off
Chicago | Reuters — U.S. corn, soybean and wheat futures rose on Monday, rebounding from Friday’s sell-off spurred by a government report that showed massive supplies of all three commodities remained in storage bins around the country. Corn notched the biggest gain, with the most active Chicago Board of Trade contract rallying 1.8 per cent […] Read more
JBS predicts profits will be stronger this year
Sao Paulo | Reuters — JBS SA executives said Friday the Brazilian meat company will deliver higher earnings in 2019 on strong demand for beef in the U.S. and Australia as well as growing Chinese demand for various proteins. Still, first-quarter results will reflect lower cattle availability in the U.S. due to rains and a […] Read more
U.S. corn, soy stocks top forecasts
Chicago | Reuters –– Massive supplies of both U.S. corn and soybeans remained in storage bins around the country ahead of spring planting, U.S. Agriculture Department (USDA) data released on Friday showed. USDA also said that farmers planned to boost their corn plantings by 4.1 per cent but severe flooding in the U.S. Midwest may […] Read more
U.S. livestock: Lean hogs limit down as export sales disappoint
Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures plunged more than three per cent on Thursday as disappointing export sales data triggered profit-taking following the market’s recent run to the highest in more than eight months, traders said. Contracts from May to December closed down the daily three-cent limit, including actively traded […] Read more
Canada takes tougher line with China over canola ban, demands evidence
Ottawa | Reuters — Canada on Thursday took a notably tougher line with China over its ban on Canadian imports of canola seed, saying Beijing had provided no scientific evidence to justify the move and was hurting its own reputation. China, citing the discovery of pests, expanded its ban on canola seed imports on Tuesday […] Read more
U.S. grains: Soybeans bounce ahead of USDA data
Chicago | Reuters — U.S. soybean futures inched higher on Thursday as traders covered shorts and squared positions a day after a steep drop to four-month lows and on the eve of U.S. government stocks and planting reports. Corn futures were flat as improving crop prospects in South America offset concerns about flooding in the […] Read more
ICE weekly outlook: China’s canola issues already well known
MarketsFarm — To some who follow commodities markets, it was clear some other participants had overreacted to the news of China banning canola imports from Viterra. Bruce Burnett of MarketsFarm was one of those who saw Canadian exports of canola to China have pretty much dried up since January. That came a few weeks after […] Read more
CBOT weekly outlook: Markets at mercy of weather
MarketsFarm — Traders are bracing for more inclement weather to hit the U.S. Midwest, which in turn could rock commodities. Springtime floods and adverse weather have impacted the majority of the U.S. Plains and Midwest, and those regions expect another snow system before the end of March. Flooding may delay planting dates, causing farmers to […] Read more