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USDA sees corn, wheat supplies rising as exports wane

Washington | Reuters — U.S. corn and wheat ending stocks will be higher than previously expected at the end of the marketing year due to a drop in already weak demand for U.S. supplies on the export market, the government said on Tuesday. The U.S. Agriculture Department in its monthly supply and demand report also […] Read more

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U.S. grains: Wheat drops to lowest since 2010 on record supply estimate

Chicago | Reuters –– U.S. wheat futures dropped to their lowest level since 2010 after the U.S. government on Thursday said year-end global supplies would be the biggest in history. Prices crumbled as the U.S. Department of Agriculture’s forecasts for record-large world wheat production and ending stocks fuelled fears about excessive inventories. Concerns about large […] Read more

(Photo courtesy Canada Beef Inc.)

U.S. livestock: CME live cattle ease ahead of cash prices

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures ended lower on Tuesday after traders sold the February contract and bought deferred months while awaiting cash prices later this week, traders said. On Tuesday, packers in Texas and Kansas bid $132/cwt for market-ready, or cash, cattle against sellers who asked $138, said feedlot sources […] Read more

(Fertilizer Safety and Security Council)

Fertilizer expected to be pricier by springtime

CNS Canada –– Relatively cheap natural gas has helped push down fertilizer prices for Canadian farmers over the past winter, but that should change by springtime. One Manitoba farm leader noted urea fertilizer that went for $545 per tonne last August could now be acquired for $445 per tonne. “Phosphate fertilizer was going for $721 […] Read more

Canadian Financial Close: TSX continues to sink with equities

By Commodity News Service Canada WINNIPEG, February 9 – The Canadian dollar finished higher against its US counterpart Tuesday. The Canadian dollar closed at US$0.7205 or US$1 = C$1.3879. Worries over global growth, Chinese economic stability and weakening oil prices pushed the Standard & Poor’s/TSX Composite Index lower Tuesday. Financials were hit especially hard along […] Read more

North American Grain/Oilseed Review: Canola falls, beans steady

By Phil Franz-Warkentin and Jade Markus, Commodity News Service Canada Winnipeg, Feb. 9 (CNS Canada) – ICE Futures Canada canola contracts were down on Tuesday, falling below major chart support as some sell stops were hit and speculative selling built on itself. The March contract hit a session low of C$457 per tonne, which was […] Read more

ICE canola weaker with stronger Canadian dollar

By Jade Markus, Commodity News Service Canada WINNIPEG, February 9 – ICE Canada canola contracts were weaker at midday on Tuesday, as a stronger Canadian dollar weighed on prices. The Canadian dollar gained ground against its US counterpart on Tuesday, which pressured prices as it makes canola less appealing to buyers. Positioning ahead of a […] Read more

ICE Canola Plummets As Prices Fall Below Key Technical Support

By Dave Sims, Commodity News Service Canada WINNIPEG, February 9 – ICE Canada canola contracts were sharply lower Tuesday morning, as the nearby contract sank below key technical support levels, prompting a rash of selling. The most-active March contract traded below C$463 per tonne which caused some sell stops to be uncovered. The Canadian dollar […] Read more

Canadian dollar and business outlook

By Commodity News Service Canada WINNIPEG, February 9 The Canadian dollar gained against its US counterpart on Tuesday. The US dollar index dropped to levels not seen since October following a string of unfavourable US domestic data, which in turn propped up the Canadian dollar. At 8:45 a.m. CST the Canadian dollar was at US$0.7217 […] Read more

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Prairie spring wheat bids slide lower

CNS Canada –– Cash spring wheat bids across Western Canada moved lower during the week ended Friday, as the firmer Canadian dollar and losses in U.S. wheat futures weighed on values. Average Canada Western Red Spring (CWRS) wheat prices were down by $4-$6 per tonne over the week, according to price quotes from a cross-section […] Read more