MarketsFarm — The ICE Futures canola market on Friday saw its busiest day ever, with over 90,000 contracts traded during the session, according to preliminary data. Intermonth spreading accounted for roughly half of the trade volumes on Friday as investors were busy rolling out of the front month. Daily trade volumes in canola are typically […] Read more
ICE canola futures see record daily trade volume
Previous record trading day was in 2014
U.S. grains: Corn, soy, wheat set multi-month highs on weather worries
U.S. markets closed Monday for Juneteenth
Chicago | Reuters — U.S. corn, soybean and wheat futures all closed higher on Friday and all set multi-month highs during the session as worries about stressful dry conditions in key portions of the Midwest prompted a flurry of buying ahead of a three-day holiday weekend, analysts said. “We have an issue here in the […] Read more
U.S. livestock: CME live cattle up as beef prices climb
Chicago lean hogs close mixed
Chicago | Reuters — Live cattle futures on the Chicago Mercantile Exchange rose on Friday ahead of a long U.S. holiday weekend, supported by strong beef prices and profitable margins for beef packers, traders said. CME’s benchmark August live cattle contract settled up 0.65 cent at 171.725 cents/lb. (all figures US$). The U.S. Department of […] Read more
Australia expects ‘favourable decision’ from China on barley
Heavy tariffs in place since 2020
Sydney | Reuters — Australia is expecting a positive decision over the next two weeks from China to fully settle a dispute over barley tariffs, Trade Minister Don Farrell said Thursday. “We are expecting in the next couple of weeks a favourable decision on the tariffs that has prevented Australian barley going into China,” Farrell […] Read more
U.S. livestock: CME live cattle inch higher in technical bounce
Chicago lean hogs end mixed
Chicago | Reuters — Live cattle futures on the Chicago Mercantile Exchange closed modestly higher on Thursday on rising wholesale beef prices and a technical bounce after the benchmark August contract dipped to a two-week low. The cattle market has been consolidating after a surge to contract highs on June 7 triggered several days of […] Read more
Feed weekly outlook: Prices, shipments steady as dryness continues
Drought 'priced into the market already'
MarketsFarm — Demand for feed grains at Alberta feedlots continues unabated as more corn from the United States makes its way into the province. “Demand at feedlots has been status quo. Feedlots are buying imported U.S. corn and DDGS. Along with that, there is also barley and feed wheat. They are getting enough supplies right […] Read more
Bayer settles with New York over Roundup safety claims
Company blocked from advertising product as non-toxic
New York | Reuters — Bayer agreed on Thursday to pay US$6.9 million to settle claims by New York Attorney General Letitia James that it misled consumers by advertising Roundup, which has been linked to cancer, as environmentally safe. The settlement resolves accusations that Bayer and its Monsanto unit failed to substantiate their repeated claims […] Read more
U.S. grains: Corn, soy futures soar on dry weather worries
Chicago July wheat also higher
Chicago | Reuters — U.S. corn futures hit their highest levels in nearly two months and soybeans hit a one-month high on Thursday as forecasts for continued dry weather in portions of the Midwest crop belt raised concerns about yield prospects, analysts said. Chicago Board of Trade (CBOT) wheat futures surged about five per cent […] Read more
Prairie Forecast: Alberta low looks to dominate
Forecast issued June 14, covering June 14-21
So far, the weather models have been doing a good job with the medium-range forecasts, only falling off late in the forecast period. Of course, in the summer, short-range forecasts can be difficult, especially when it comes to just when and where thunderstorms will develop. I always find it interesting that a forecast could be […] Read more
ICE weekly outlook: Canola will follow soyoil up or down
Prairie weather another guiding factor
MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
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