Chicago | Reuters — Benchmark Chicago wheat futures dropped below US$7 per bushel on Monday for the first time in 17 months, pressured by reminders of adequate global supplies and optimism that the safe corridor to export grain from war-torn Ukraine will be extended, traders said. Corn futures also declined. But soybeans rose as Chicago […] Read more
U.S. grains: Wheat below US$7 on hopes for Ukraine export extension
CBOT corn down, soybeans up
U.S. livestock: CME feeder cattle set contract high on tightening supplies
Chicago live cattle also up, lean hogs down
Chicago | Reuters — Chicago Mercantile Exchange feeder cattle futures jumped to a new contract high on Monday on firm cash prices and increasing concerns about reduced U.S. herd numbers, analysts said. Traders focused on tighter cattle supplies as demand from meatpackers for livestock to slaughter remained strong. Ranchers have reduced herd sizes due to […] Read more
U.S. grains: Soybean, corn futures end week strong
Chicago May wheat falls
Chicago | Reuters — U.S. soybean futures rose for the third consecutive day on Friday, supported by expectations that the soy crop in global supplier Argentina is smaller than estimated because of damage from drought conditions. “Behind the support in the market is the simple fact that this is horrible finishing weather for the soybeans […] Read more
U.S. livestock: Cattle, hogs rally on strong outside markets
Weather forecast also supportive
Chicago | Reuters — Chicago Mercantile Exchange hog and cattle futures rose sharply on Friday, as gains in outside markets bolstered optimism about the economy and consumer demand for beef and pork, traders said. Concerns that a late winter storm forecast for the U.S. Midwest this weekend could disrupt supply chains added support to livestock […] Read more
Several countries ban Brazilian beef as BSE probe goes on
Russia among those halting imports
Sao Paulo | Reuters — The Brazilian agriculture ministry said on Thursday that Thailand, Iran and Jordan have temporarily suspended imports of beef from Brazil while authorities investigate a case of BSE in an animal from Para state, according to a statement sent to Reuters. The ministry also confirmed that Russia has halted imports from […] Read more
Feed weekly outlook: Barley exports slowing down, local prices steady
Feedlots relatively well covered
MarketsFarm — Canadian barley exports slowed down in January, but out-of-country movement is still running ahead of the year-ago pace, according to updated export data from the Canadian Grain Commission. Canada exported 131,100 tonnes of barley from licensed facilities in January, with China the top customer taking 100,500 tonnes. Total barley exports were well off […] Read more
U.S. grains: Soybeans up on technical bounce
Wheat firm; corn weak
Chicago | Reuters — U.S. soybean futures rose on Thursday, extending their rebound from the one-month low hit this week on a round of technical buying, traders said. “I think we got too cheap too fast and we are seeing a technical recovery,” said Scott Harms, Ag risk specialist at Archer Financial Services. Wheat futures […] Read more
U.S. livestock: Cattle, hogs ease on weak exports
Boxed beef prices seen firm
Chicago | Reuters — Chicago Mercantile Exchange cattle and hog futures fell on Thursday, with signs of weakening export demand for beef and pork pressuring prices. Traders also said the cattle market was still ripe for profit taking even after falling on Wednesday. The U.S. Agriculture Department said on Thursday morning export sales of beef […] Read more
CBOT weekly outlook: It still comes down to South America
Continent's soy situation conflicting
MarketsFarm — Although the U.S. Department of Agriculture (USDA) is set to issue its next supply and demand estimates on March 8, what’s going on in South America continues to dominate the Chicago Board of Trade (CBOT), according to Andrew Mages of Progressive Ag in Fargo, N.D. “Typically it’s not the most important report because […] Read more
U.S. grains: Soy, corn, wheat futures bounce after declines
Chicago | Reuters — U.S. soybean, corn and wheat futures rose on Wednesday, with bargain buyers snapping up commodities that posted sharp declines during February. The higher closes in soybeans and corn snapped a stretch of five straight losing sessions. Traders said that the recent sell-off may have sparked some buying interest from importers that […] Read more
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