Washington | Reuters — A group representing major railroads and a union that voted to reject a new contract said Wednesday they had agreed to extend a potential strike deadline until at least Dec. 4. The National Carriers’ Conference Committee (NCCC) and the International Brotherhood of Teamsters (BMWED) that represents 11,000 workers extended the current […] Read more
U.S. railroads, union extend strike deadline until at least Dec. 4
Teamsters warn against 'blatant attempt to cause panic'
U.S. livestock: CME live cattle settle lower as Wall Street slides
Feeder cattle, lean hogs also weaker
Chicago | Reuters — Live cattle futures slipped at the Chicago Mercantile Exchange (CME) on Wednesday as the market came under pressure from steep losses in equities and a lack of supportive news, brokers said. December live cattle settled 1.475 cents lower at 151.575 cents/lb. (all figures US$). February live cattle dropped 0.625 cent to […] Read more
U.S. grains: Wheat drops as USDA raises global supply view
USDA lifts U.S. corn, soy yield views; stocks still tight
Chicago | Reuters — U.S. wheat futures fell on Wednesday after the U.S. Department of Agriculture (USDA) unexpectedly raised its global supply outlook in a monthly report, citing larger crops in Australia, the U.K. and Kazakhstan that offset lower Argentine and EU production. A firmer U.S. dollar also weighed on wheat, along with optimism about […] Read more
Pulse weekly outlook: Price disconnect between lentil growers, destinations
Stronger loonie pressures prices
MarketsFarm — There’s something of a disconnect in green lentil prices, between what Canadian farmers have seen recently and to where those pulses are being sold, according to Toronto-based Marcos Mosnaim of Export Packers. Green lentils increased in price up until a couple of weeks ago, Mosnaim said. “It was a combination of farmers not […] Read more
U.S. grains: Wheat, corn, soy ease as traders await crop data
Wheat traders eye Black Sea supplies
Chicago | Reuters — U.S. grain and soybean futures on Tuesday eased on long liquidation ahead of the release of widely followed government crop forecasts on Wednesday, analysts said. The wheat market also grappled with Black Sea supply prospects as Ukraine sought to expand a grain deal allowing exports from Black Sea ports. The most-active […] Read more
U.S. livestock: CME lean hogs end lower, consolidate after rally
December live cattle futures flat
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures pulled back on Tuesday as the market consolidated after climbing nearly five per cent during the previous session, brokers said. CME December hogs closed 1.475 cents, or 1.7 per cent, lower at 85.575 cents/lb. (all figures US$). Wholesale pork prices were also lower. The U.S. […] Read more
Fund short position in canola dips to four-month low
Net long increases in CBOT soybeans
MarketsFarm — Speculators were busy covering short positions and putting on some fresh longs in the canola market during the week ended Nov. 1. That lowered the net short position in the ICE Futures canola market to its smallest level since the beginning of July, according to the latest Commitment of Traders (CoT) report compiled […] Read more
Klassen: Tighter supplies underpin western Canadian feeder market
Weather conditions may sway buying interest
Compared to last week, western Canadian yearling prices were unchanged to $4 higher. Heavier calves notched a week-over-week gain of $2-$4. Mid-weight and lighter calves traded steady to $5 lower in Alberta but $4-$5 on either side of unchanged in Saskatchewan and Manitoba. Yearling numbers were limited and buyers paid up for quality packages while […] Read more
Cold, snowy start seen to Prairies’ winter
MarketsFarm — Although the official calendar start to winter isn’t until Dec. 21, conditions on the Canadian Prairies are now winter-like, according to Weatherlogics chief scientist Scott Kehler. “For the month of November, it looks like we’re off to a cold start for most of the Prairies. The western Prairies… had quite a significant winter […] Read more
U.S. livestock: CME lean hogs rally on bargain buying
Chicago live cattle firm
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures jumped nearly five per cent on Monday on bargain buying after the benchmark December contract on Friday dipped to its lowest in nearly three weeks, traders said. CME December hogs settled up 4.075 cents at 87.05 cents/lb., surging in early moves after the contract was […] Read more
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