MarketsFarm — Despite temperatures ranging from near-freezing lows to sweltering highs and receiving little precipitation, Manitoba’s dry edible bean crop has weathered the conditions well, according to the province’s pulse specialist. “We’ve had some interesting weather over the last week to two weeks,” Dennis Lange, pulse specialist for Manitoba Agriculture at Altona, said, referring to […] Read more
Pulse weekly outlook: Manitoba dry beans in good shape
Klassen: Feeder market percolating higher
Weakness in feeder futures seen as temporary hiccup
Compared to last week, western Canadian yearling prices were $1-$4 higher on average; calves were steady to $2 higher. Limited volume of calves under 600 lbs. made the market hard to define; however, strong demand was surfacing across all weight categories. The weaker Canadian dollar, along with stronger live cattle futures, set a positive tone. […] Read more
Feed weekly outlook: Rains, demand keep bids down
MarketsFarm — While recent wet weather on the Prairies has helped bring down prices for feed grains, demand — or a lack thereof — has been another primary factor. “The rains have definitely affected (prices) a bit, but probably not to the extent demand has,” said Erin Harakal, trade manager for Agfinity at Stony Plain, […] Read more
ICE weekly outlook: Weather, soy complex weaken canola
MarketsFarm — Wet weather on the Prairies and U.S. northern Plains has brought downward pressure on ICE Futures canola prices, taking the market off the contract highs hit in early June. Losses in palm oil and soyoil were also bearish. While precipitation, or the potential of it falling over canola-growing areas in Western Canada and […] Read more
U.S. grains: Soybeans down with vegetable oil prices
Chicago July corn, wheat up
Chicago | Reuters — U.S. soybean futures fell on Wednesday to their lowest level in nearly two months, pressured by a retreat in global vegetable oil prices from multi-year highs, analysts said. Corn and wheat futures ended mixed, with the nearby July corn and wheat contracts closing higher, while back months declined. Chicago Board of […] Read more
Klassen: Feeder market heating up
Volumes thin with auction barns in holiday mode
Compared to last week, western Canadian yearling steers traded $3-$4 higher while yearling heifers were steady to $2 higher. Mid-weight calves or young yearlings from 600 to 800 lbs. were $3-$5 higher on average. Calves under 600 lbs. were relatively unchanged. Favourable rains across the Prairies have enhanced crop prospects for barley and wheat. April […] Read more
ICE weekly outlook: Swings ahead for canola
MarketsFarm — If anything is certain for canola values, it’s that they are going to be swingy for the next while, according to Ken Ball of PI Financial in Winnipeg. Canola bids, especially new-crop, have been on the downswing lately, largely due to precipitation the Prairies recently received. While the resulting moisture won’t rectify the […] Read more
Dry weather may cut into Canadian crop prospects, AAFC says
MarketsFarm — Dry weather conditions across Western Canada could cut into production prospects in the region, according to updated supply/demand tables released Thursday by Agriculture and Agri-Food Canada. “Extremely dry conditions prevail in large parts of Western Canada, allowing for rapid seeding progress which is trending ahead of normal; however, timely precipitation this spring and […] Read more
Tensions build over Argentina’s beef export ban
Rural associations pledge pause in livestock trading
Buenos Aires | Reuters — Argentine farm groups will halt trading of livestock in protest against a 30-day government ban on beef exports aimed at bringing down domestic prices, the country’s main producer groups said in a joint statement Tuesday. The South American country’s centre-left Peronist government unveiled the ’emergency measure’ to tamp down high […] Read more
Feed weekly outlook: Falling futures suggest first cracks in lofty market
MarketsFarm — A sharp drop in corn and wheat futures prices at the Chicago Board of Trade over the past week could be the sign of the first cracks in the western Canadian feed grain market. That said, tight supplies and uncertainty over new-crop grain production remain supportive. “With the move on the futures market […] Read more