MarketsFarm — Canadian pea, chickpea and edible bean exports will likely beat earlier expectations during the current 2022-23 marketing year, according to updated supply/demand projections from Agriculture and Agri-Food Canada. The stocks-to-use rations for the three crops should also tighten as a result. In its report Friday, the government agency upped its call for Canadian […] Read more
Pulse weekly outlook: Larger pea, chickpea exports expected
China, Bangladesh among major destinations
U.S. grains: Chicago grains flat or down with weather, Black Sea in focus
Large Russian supplies temper fears over Black Sea deal collapse
Mexico City | Reuters — Chicago grain futures closed flat or lower on Tuesday, with wheat hitting a 21-month low, as markets were weighed down by a dip in stocks and crude oil and clear forecasts for U.S. planting weather, traders said. Corn closed slightly up as the market weighed increasing export competition from Brazil, […] Read more
U.S. livestock: Live cattle, hogs mostly weaker
Feeder cattle futures mixed
Chicago | Reuters — Chicago Mercantile Exchange live cattle and hog futures contracts were mostly weaker on Tuesday, with ample supplies weighing on prices. Traders also noted pressure from poor cash market values and concerns about demand due to worries about the global economy. “There probably is a little bit of a drag from outside […] Read more
U.S. grains: Corn hits eight-month low
Soybeans, wheat at one-month low
Chicago | Reuters — Chicago Board of Trade corn futures slumped on Monday to an eight-month low after the government announced that China canceled some purchases of U.S. supplies of the grain. The cancellations, which also weighed on wheat and soybean futures that hit one-month lows on Monday, highlighted concerns about weak demand for U.S. […] Read more
U.S. livestock: Feeder cattle fall after USDA report
June hogs rise above 10-day moving average
Chicago | Reuters — Chicago Mercantile Exchange live cattle contracts edged higher on Monday, while feeder cattle contracts fell, after U.S. government data released on Friday afternoon showed bigger-than-expected supplies in feedlots. The U.S. Agriculture Department’s monthly report showed that the number of U.S. cattle on feed, as of April 1, was down four per […] Read more
Moscow would scrap grain deal if G7 bans exports, Medvedev warns
G7 said to be considering blanket ban on exports to Russia
Reuters — Former Russian president Dmitry Medvedev said on Sunday that if the G7 moved to ban exports to Russia, Moscow would respond by terminating the Black Sea Grain deal that enables vital exports of grain from Ukraine. The Group of Seven (G7) countries are considering a near-total ban on exports to Russia, Japan’s Kyodo […] Read more
AAFC raises canola stocks projections
StatCan's early acreage estimates due out this week
MarketsFarm — Canola ending stocks for both the current marketing year and 2023-24 were raised slightly by Agriculture and Agri-Food Canada (AAFC) in its latest supply/demand projections, released Friday. The government agency lowered its canola export forecast for 2022-23 by 200,000 tonnes from March, now pegging movement at 8.4 million tonnes. With domestic usage left […] Read more
U.S. grains: Cheap Brazilian soybeans destined for U.S.
U.S. weather, Ukrainian exports also in focus
Mexico City | Reuters — U.S. soybean futures closed the week down on Friday, extending losses as cheap Brazilian beans were being snatched up by the U.S., the second-largest soy producing country in the world. A drop in prices due to abundant local supplies and cooling demand have made Brazil an attractive origin for soybeans, […] Read more
U.S. livestock: CME cattle mixed, cash-futures spread remains wide
Hogs firm after touching new lows
Chicago | Reuters — The Chicago Mercantile Exchange’s spot live cattle futures eased on Friday, after prices in some cash cattle markets dipped lower than last week, traders said. Still, traders cautioned, the spread between cash and deferred futures prices remains wide — a spread that could tighten in the coming weeks as the U.S. […] Read more
French agency drops fumigant ban on non-EU grain exports
Limit on phosphine won't apply if use required for export
Paris | Reuters — French health safety agency ANSES on Thursday cleared the use of phosphine pesticide in contact with grains exported outside the European Union when importing countries require the process, averting a halt to shipments from the EU’s top grain exporter. In late October ANSES cleared the use of phosphine tablets used for […] Read more
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