Combining in Alberta reached 20 per cent complete as of Aug. 27, according to the latest provincial crop report issued Aug. 30. The harvest was eight points ahead of the five-year average. Also, nine per cent of Alberta’s crops have been swathed and 70 per cent remain standing.
Cash wheat prices for Canada Prairie Red Spring Wheat and Canadian Western Red Spring Wheat were higher for the week ended Aug. 29, while those for Canadian Western Amber Durum were mixed.
Chicago soybean and corn futures rose on Thursday on short-covering and an uptick in export demand, though expectations for strong U.S. crop production limited gains, traders said.
Severe storms brought strong winds, heavy rains, and, in some places, golf ball-sized hail over parts of Saskatchewan. Nevertheless, the province’s harvest continued to progress during the week ended Aug. 26, according to the agriculture department’s weekly crop report.
Feed prices in Alberta climbed 20 cents per bushel the week ended Aug. 29, likely according to last week's rail disruption, according to Susanne Leclerc of Market Master Ltd. in Edmonton.
Chicago Mercantile Exchange (CME) live cattle futures fell on Wednesday as boxed beef cutout values turned lower ahead of the U.S. Labor Day holiday on September 2, when many Americans light up their grills, traders said.
While the general direction for soybeans and corn on the Chicago Board of Trade is to continue moving lower, United States wheat was on the rise and is to remain so in the coming weeks, according to a trader.
Chicago soybean and corn futures stumbled on Wednesday as traders assessed whether beneficial rain and forecasts for milder weather will aid the country's corn and soy crops during their final growing stages, analysts said.
Statistics Canada’s production estimates in its principal field crops report issued Aug. 28, came in better than expected according to MarketsFarm analyst Mike Jubinville. While Jubinville thought StatCan might peg the 2024/25 canola crop at around 20 million tonnes, the federal agency placed their call at 19.50 million, while a poll by Reuters expected 19.20 million.