Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose on Tuesday, rallying after a two-session slide as corn prices dropped and feeder cattle surged, but softening wholesale beef prices hung over the market, traders said. Benchmark CME August live cattle futures settled up 1.9 cents, at 172.5 cents/lb. (all figures US$). October futures […] Read more
U.S. livestock: Live cattle end higher, lean hogs mixed
Wholesale beef prices seen softening
U.S. grains: Corn, soy slide as Midwest rain outlook improves
Wheat drops on Russia production outlook
Chicago | Reuters — U.S. new-crop corn and soybean futures fell on Tuesday to their lowest in more than a week, pressured by forecasts for much-needed rains in the Midwest where crops have been deteriorating under dry conditions, analysts said. Wheat futures tumbled more than five per cent as worries subsided about political instability in […] Read more
Net short drops in canola as funds cover positions
Traders expand net longs in soy, corn
MarketsFarm — Speculative traders were busy covering short positions in ICE Futures canola during the week ended June 20, taking the net short position in the market to its smallest level in four months, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of June 20, the […] Read more
U.S. grains: Wheat retreats after Russia worries lift market
Wheat down off four-month peak; corn and soybeans also retreat
Chicago | Reuters — Chicago wheat futures declined on Monday in a technical and profit-taking retreat after concerns about political stability in major exporter Russia had lifted prices earlier to four-month highs. Corn ended mixed and soybeans closed below session highs as milder temperatures and crop-boosting rains in parts of the U.S. Midwest over the […] Read more
U.S. grains: Corn, soybeans, wheat fall ahead of weekend
Rainfall in U.S. Midwest forecasts
Chicago | Reuters — Chicago Board of Trade corn and soybean futures fell to one-week lows on Friday, pressured by forecasts for beneficial rains in the U.S. Midwest, traders said. Wheat futures also were lower, with traders locking in profits from a rally that has pushed prices higher for five weeks in a row. Signs […] Read more
Feed weekly outlook: Rains lift interest, prices
Dry conditions in U.S. Corn Belt supportive
MarketsFarm — When Alberta was dry, feed prices drew little interest according to Susanne Leclerc of Market Master Ltd. in Edmonton. But that changed after some timely rains, with prices on the rise. “There’s more demand than we have seen in a while,” Leclerc said. “When crops were looking crappy and people were worried about […] Read more
U.S. grains: Soy, corn down off multi-month highs
CBOT winter wheat firm
Chicago | Reuters — Chicago Board of Trade corn and soybean futures fell on Thursday, pressured by a round of profit-taking and some weather outlooks that called for relief to drought-stricken crops in the U.S. Midwest, traders said. “The markets have obviously been overbought on the run-up here on weather,” said Mark Soderberg, grains research […] Read more
U.S. livestock: Cattle futures rise, hogs fall
Feeder cattle back in Bollinger range
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures firmed on Thursday, rebounding from a sharp decline a day earlier on support from weakness in the corn market. Live cattle futures also closed higher but hog contracts weakened, extending a sell-off that started on Wednesday as traders said the market remained technically overbought. Analysts […] Read more
AAFC’s June supply/demand estimates mostly unchanged
Corn exports adjusted upward
MarketsFarm — Monthly supply/demand projections from Agriculture and Agri-Food Canada were left mostly unchanged in June, as the department awaits updated acreage estimates from Statistics Canada at the end of the month. Only corn saw any adjustments in the numbers from May, with a 200,000-tonne increase in 2022-23 exports, now at 2.05 million tonnes, resulting […] Read more
U.S. to boost biofuel mandates over next three years
Biofuel groups still feel shortchanged
Reuters — The Biden administration on Wednesday increased the amount of biofuels that oil refiners must blend into the United States’ fuel mix over the next three years, but the plan has angered the biofuel industry, which says mandates for corn-based ethanol and biodiesel are not high enough. The U.S. Environmental Protection Agency has finalized […] Read more