Western Canadian feeder cattle prices were well supported this past week, with strong buying interest from both larger feedlot operators and the “year-end buyer” custom cattle feeder. Fed cattle prices continue to trade near historical highs, causing feedlots to aggressively liquidate market-ready supplies. Empty pens can have significant opportunity cost in this environment, so there […] Read more
Klassen: Feeder cattle market absorbs larger supplies
U.S. grains: Wheat nears five-month top as Russia tightens export rules
Chicago | Reuters — U.S. wheat futures climbed to their highest in nearly five months on Friday, supported by news that Russia, a major global wheat supplier, was tightening its grain export rules, traders said. Soybeans fell nearly three per cent as soymeal declined on talk of softening cash meal values. Corn also sagged on […] Read more
U.S. livestock: CME live cattle end mixed on month-end positioning
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures closed mixed on Friday in thin post-Thanksgiving Day volume on positioning during the last trading day for November, traders said. December closed down 0.375 cent per pound at 168.875 cents, and February was at 169.225 cents, 0.45 cent lower (all figures US$). April and June […] Read more
Ex-Viterra CEO to lead Dreyfus’ commodities business
The CEO who stitched Viterra together from Canada’s Prairie pools has been named to lead Louis Dreyfus’ global commodities business. Mayo Schmidt was announced Friday as the new CEO of Louis Dreyfus Commodities (LDC), the “D” of the four “ABCD” companies dominating the global grain business. Schmidt takes the reins at Rotterdam-based Dreyfus effective Jan. […] Read more
U.S. to appeal latest WTO loss on COOL
Canada will have to wait up to three more months before it can impose retaliatory tariffs on U.S. goods over Washington’s mandatory country-of-origin labelling (COOL) law on meat from imported livestock. The U.S. government on Friday filed a notice of appeal against the latest ruling by a World Trade Organization (WTO) compliance panel, which last […] Read more
Hidden stocks keep canaryseed rangebound
CNS Canada –– The visible supply-and-demand fundamentals for canaryseed in Western Canada may appear tight — but actual price activity may say otherwise. Canada’s 2014 canaryseed crop was estimated at 138,800 tonnes by Statistics Canada in its October report, which compares with the 131,000 tonnes grown in 2013. The government agency has not released recent […] Read more
Guenther: Indigenous ag summit cultivates global ambition
Elmer Eashappie is an idea man. And on his mind today is an agricultural summit connecting First Nations groups worldwide to network and learn, all under the umbrella of Canadian Western Agribition. And that idea is closer to reality than one may think. Eashappie, an Agribition board member, is chairman of the Indigenous Agriculture Summit, […] Read more
Prairie farmers reluctant to sell into canola cash market
CNS Canada –– Prairie farmers are reluctant to sell into canola cash markets, in turn supporting basis levels recently as buyers have to work to entice farmer selling. “I think farmers are patient; they are not selling this market when you see minor dips,” said Jerry Klassen, manager for Swiss-based GAP SA Grains and Products […] Read more
Peas seen gaining strength in second half of export year
CNS Canada — Prices for Canadian green and yellow peas stand to increase as the 2014-15 export year rolls along, in part due to weather damage from excess moisture as well as continued demand from Asia, according to an industry-watcher. āIām more optimistic for yellow peas just because we can really see strong demand later […] Read more
IGC raises forecast for 2014-15 global corn crop
London | Reuters — The International Grains Council on Thursday raised its forecast for the 2014-15 world corn (maize) crop, reflecting an upward revision to production in China. Global corn production was forecast to total 982 million tonnes, up from a previous forecast of 980 million and just shy of the prior season’s record 984 […] Read more