Paris | Reuters –– An unusually large cargo of Canadian wheat was due to unload at Rouen, northern France, this week, port data showed on Thursday, adding to evidence that buyers are being forced to offset lower quality grain from this year’s French harvest. France usually imports small amounts of high-quality Canadian wheat — used […] Read more
Unusually large Canadian wheat cargo set to unload in France
Australian drought seen staying until 2015, likely to boost cattle slaughter
Sydney | Reuters –– Drought conditions across Australia’s east coast are unlikely to improve before 2015, the Australian Bureau of Meteorology said, fuelling expectations that beef supply from the world’s No. 3 exporter may beat estimates as wilting pastures force farmers to slaughter more animals. Queensland, Australia’s largest cattle producing state — home to about […] Read more
Japan, U.S. remain apart in trade talks, dealing blow for TPP
Washington | Reuters — Japan and the U.S. failed to make progress in bilateral talks, both sides said on Wednesday, dealing a blow for hopes of sealing an ambitious multilateral trade deal this year. “Japan made a flexible proposal, but we weren’t able to make further progress,” Trade Minister Akira Amari told reporters on Wednesday […] Read more
Fruit, veg exporters fear loss of U.S. payment default coverage
The U.S. could potentially yank the payment default protection it grants to Canadian exporters of fresh fruit and vegetables if Canada doesn’t extend the same courtesy southward, produce growers warn. Under the U.S. Perishable Agricultural Commodities Act (PACA), Canadian produce suppliers exporting into the U.S. have had the same rights as U.S. suppliers to recover […] Read more
Brazil soy farmers start planting expected record crop
Sao Paulo | Reuters — Farmers in Brazil have started planting what may be their third consecutive record soybean crop though progress has been uneven in South America’s largest economy, analysts for two state-level farm institutes said Wednesday. Parana, Brazil’s No. 2 soy growing state, in southern Brazil has planted six per cent of its […] Read more
ICE weekly outlook: Canola due for corrective bounce
CNS Canada — The November ICE Futures Canada canola contract broke below the key psychological level of C$400 per tonne during the week, but recovered Wednesday to settle just above that level. In the near term, the canola market is “due for a little bit of a reprieve,” said Errol Anderson of ProMarket Communications in […] Read more
U.S. grains: Corn, soybeans, wheat bounce from four-year lows
Chicago | Reuters — U.S. wheat futures prices jumped nearly one per cent on Wednesday as a recent plunge to four-year lows encouraged investors to cover short positions, after lower prices sparked improved export demand. Corn and soybean futures also ticked higher in a short-covering bounce from four-year lows, though good weather speeding the harvest […] Read more
U.S. livestock: Cash price uncertainty weakens CME hogs
Chicago | Reuters –– Chicago Mercantile Exchange lean hogs posted modest losses on Wednesday amid uncertainty regarding near-term prices for slaughter-ready or cash hogs, traders said. October hogs closed 0.425 cent per pound lower at 107.45 cents, and December at 95.2 cents, down 0.05 cent. The U.S. Department of Agriculture’s Wednesday morning direct cash hog […] Read more
Big crops keep pressure on CBOT soybeans, corn
CNS Canada — Soybean and corn futures at the Chicago Board of Trade fell to fresh four-year lows during the week ended Wednesday, and there is still plenty of room to the downside as the harvest pressure builds over the next month. “It will be a long harvest,” said Scott Capinegro, president of Barrington Commodity […] Read more
Canadian fertilizer firms brace for fall in U.S. crop prices
Winnipeg | Reuters — Canadian fertilizer companies PotashCorp and Agrium are bracing for a pullback in demand from U.S. farmers due to sliding crop prices, but say any slump is unlikely to be severe. The prospect for a record-large U.S. corn crop has dragged Chicago nearby corn futures to a four-year low. Lower prices of […] Read more