MarketsFarm — ICE Futures canola contracts drifted lower during the week ended Wednesday, although values remained rangebound overall. “The market is maybe coming to the realization that we still have near-record South American (soybean) supplies on hand,” Ken Ball of PI Financial in Winnipeg said of the downtrend. While Argentina has suffered crop losses from […] Read more
ICE weekly outlook: Canola drifting lower
Near-record soy still expected from South America
More South American nations report bird flu cases
Brazil still remains free of contagion
Sao Paulo | Reuters — The confirmation of more bird flu cases in South America raised alarm bells in Brazil, which remains free of contagion even after its close neighbours Argentina and Uruguay confirmed cases there on Wednesday. In a press conference to discuss the global sanitary hazard, Brazilian Agriculture Minister Carlos Favaro said Brazil, […] Read more
CBOT weekly outlook: Values pull back from upper ranges
Early U.S. estimate of planting intentions due out next week
MarketsFarm — Despite some bullish influences, commodity prices at the Chicago Board of Trade (CBOT) were stepping back in mid-February. That movement wasn’t a surprise to Scott Capinegro of Barrington Commodity Brokers in Barrington, Ill. Prices for corn, soybeans and wheat had been at the upper end of their ranges, he said. “We are still […] Read more
Mexico opens door for GM corn in feed, industrial uses
U.S. 'disappointed' in Mexico's new decree
Mexico City | Reuters — Mexico on Monday scrapped a deadline to ban genetically modified corn for animal feed and industrial use amid trade tensions with the United States — but retained plans to prohibit use of the GM grain for human consumption, as well as the herbicide glyphosate. The move, approved in a government […] Read more
U.S. livestock: CME live cattle ease on profit-taking
February cattle lower after nearing eight-year top; hogs follow cash prices higher
Chicago | Reuters — U.S. live cattle futures closed lower on Tuesday on profit-taking after rising to the highest levels in nearly eight years, with worries about the health of the U.S. economy adding to bearish sentiment, analysts said. Benchmark April live cattle futures on the Chicago Mercantile Exchange settled down 0.425 cent at 164.675 […] Read more
U.S. grains: Soy eases off multi-month highs
Futures down as Brazil's harvest progresses; CBOT corn, wheat also down
Chicago | Reuters — U.S. soybean futures fell on Tuesday on profit-taking after Monday’s multi-month highs and fundamental pressure from the advancing harvest of a likely record-large soy crop in Brazil, analysts said. Corn and wheat drifted lower in technical moves with worries about a global recession adding to bearish sentiment. Chicago Board of Trade […] Read more
Pulse weekly outlook: Earthquake to have little effect on pulse markets
Such disasters don't often blow back on agrifood commodity costs
MarketsFarm — The earthquake that devastated parts of Turkey and Syria on Monday last week, taking the lives of more than 40,000 people, may not have a major effect on pulse markets, according to one analyst. Jon Driedger from Leftfield Commodity Research in Winnipeg said that while natural disasters like an earthquake can take on […] Read more
Klassen: Canadian feeder market rationing demand
Demand from Ontario remains aggressive
Compared to last week, western Canadian yearling prices were up $4-$6 while calf markets traded $6 to as much as $10 above week-ago levels. May feeder cattle futures are trading at a $8 premium to the nearby March contract. The carrying charge in the futures market has encouraged buyers to step forward sooner rather than […] Read more
U.S. livestock: CME live cattle near eight-year highs
Cash cattle markets firm up
Chicago | Reuters — U.S. live cattle futures climbed to contract and multi-year highs on Monday on optimism about firming cash cattle prices and tightening U.S. cattle supplies. Most-active April live cattle futures on the Chicago Mercantile Exchange settled up 1.15 cents at 165.1 cents/lb. after recording a contract high at 165.25 cents. Front-month February […] Read more
Bill to keep supply management off trade table moving forward
CCA, other groups oppose proposal as Bloc MP's private bill passes second reading
A federal private member’s bill that would codify the current government’s promise to leave supply-managed ag commodities out of any future free trade deals has advanced to the committee stage. Introduced last June 13 by Bloc Quebecois MP Luc Theriault, Bill C-282 came back last Wednesday to pass second reading in the House of Commons […] Read more
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