Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose to contract highs for a third straight session on Friday on hopes for strong demand from China before easing from those peaks on profit-taking and technical selling, traders said. China is expected to be in the market for imported pork as the deadly hog […] Read more
U.S. livestock: Lean hogs notch fresh contract highs on export hopes
U.S. grains: Corn up on China buying, flood worries
Chicago | Reuters — U.S. corn futures rose to a 3-1/2-week high on Friday as China booked its largest purchase of the grain in more than five years and as flooding in the western U.S. Midwest raised concerns over spring planting. Technical selling and profit-taking later pulled corn from the highs, although the market closed […] Read more
Trudeau optimistic about making progress to end China canola ban
Ottawa/Chicago | Reuters — Canada is optimistic it can make progress this year in talks to persuade China to allow imports of Canadian canola seed to resume, Prime Minister Justin Trudeau said on Friday, even as tensions between Ottawa and Beijing reach new highs. Trudeau spoke hours after an industry group said Chinese importers had […] Read more
China’s pork imports seen doubling in 2019 on swine fever impact
Wuzhen, China | Reuters — China’s 2019 pork imports are set to double from last year to two million tonnes, a Rabobank analyst said on Thursday, as African swine fever hits production of the meat in the world’s top hog market. China has reported 113 outbreaks of the contagious disease since last August, though farmers […] Read more
U.S. livestock: Hogs limit up again on China swine fever fears
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rallied by their daily trading limits for a second straight day on Thursday on expectations that imports by China would surge as the country’s domestic hog herd is ravaged by a deadly hog disease. All hog contracts posted new contract highs and spot futures reached […] Read more
U.S. grains: Corn rises as Midwest floods fuel planting concerns
Chicago | Reuters — U.S. corn futures jumped more than one per cent on Thursday to their highest level in 2-1/2 weeks as concerns about delayed planting in the western U.S. Midwest sparked buying and fund short-covering. Soybeans followed corn higher, although gains were restrained by lower-than-expected weekly export sales data and concerns about trade […] Read more
China stops buying Canadian canola
China has stopped buying any Canadian canola, says Canola Council of Canada president Jim Everson. “The Chinese are unwilling to purchase Canadian canola (from any company) at this time,” he said Thursday. “Trade that was executed earlier is continuing. New sales are what appears to be affected.” Earlier this month China blocked canola imports from […] Read more
U.S. livestock: Hogs limit up on China swine virus fears
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures soared by the company’s daily price limit to new contract highs on Wednesday on increasing worries about the spread of a deadly hog disease in China. Traders expect that China, the world’s biggest hog producer and pork consumer, will need to import more U.S. pork […] Read more
ICE weekly outlook: Little to sustain canola bids in bear market
MarketsFarm — Although there will be some bounces in ICE canola futures, there is very little currently to sustain any increases in bids, according to Errol Anderson of ProMarket Communications. While the market has stabilized for the time being, it’s technically oversold, Anderson said. The market can rebound $5-$10 per tonne, he said, but it’s […] Read more
CBOT weekly outlook: African swine fever paralyzes futures
MarketsFarm — Ahead of the U.S. Department of Agriculture’s next crop report due out March 29, market experts are looking to headlines for direction in the Chicago futures. U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin return to China next week, with the goal of hammering out a trade deal in weeks to […] Read more