Chicago | Reuters — Chicago Board of Trade wheat futures bounced on technical buying on Friday after nearing a six-month low struck a day earlier, though the market remained capped by sluggish U.S. exports and increased Black Sea shipments, analysts said. Corn futures also strengthened, while soybeans edged lower as forecasts for rain in the […] Read more
U.S. grains: Wheat up off six-month low on technical buying
CBOT corn rises, while soybeans stay under pressure
U.S. livestock: CME lean hogs slip
USDA marks surprise jump in July cattle placements
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures slipped on Friday, with the most-active contract dipping to a nearly six-week low during the session, as weak export demand continued to weigh on futures, analysts said. Meanwhile, a government report, released after the CME closed, said that far more cattle were marketed in July […] Read more
Feed weekly outlook: Prairie markets hold firm ahead of harvest
MarketsFarm — The feed grain market in Western Canada is holding steady for the time being, with both buyers and sellers keeping to the sidelines ahead of the harvest. “So far we haven’t seen the harvest pressure we would normally expect,” said grain trader Matt Beusekom of Market Place Commodities in Lethbridge. Feedlots were still […] Read more
U.S. livestock: CME lean hogs fall on weak exports
Softer cash values drag on live cattle futures
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell on Thursday, pressured by softening wholesale pork prices and weak export demand, analysts said. “We’re going to have more supply coming at us, and that’s putting pressure on the wholesale market,” said Altin Kalo, economist at Steiner Consulting Group. CME October lean hogs fell […] Read more
U.S. grains: Wheat down on weak U.S. demand, Ukraine grain shipments
Economic uncertainty also curbs grain markets
Chicago | Reuters — Chicago wheat futures slid for a fifth session on Thursday, pressured by soft export sales, a stronger dollar and continued exports from Ukraine, analysts said. Soybeans firmed after better-than-expected export sales last week indicated strong demand as U.S. harvest nears, while corn traded near even. Economic uncertainty also hung over grain […] Read more
U.N. chief seeks ‘spirit of compromise’ over Ukraine grain initiative
Deal sees 21 outbound ships so far
Lviv | Reuters — U.N. Secretary-General Antonio Guterres urged Russia and Ukraine on Thursday to show a “spirit of compromise” to ensure the continued success of a U.N. brokered deal that enabled Ukraine to resume grain exports from its Black Sea ports. Guterres said after talks in the western Ukrainian city of Lviv that 21 […] Read more
Quebec’s UPA hit by ransomware attack
Farm organization, affiliate bodies affected
Quebec’s overarching farmer organization, l’Union des producteurs agricoles (UPA), has confirmed its computer systems were hit by a ransomware attack earlier this month. UPA, in a release last Thursday, said it’s working with a cybersecurity firm to analyze the nature and scope of the attack, as well as any possible solutions to securely restore its […] Read more
ICE weekly outlook: Canola could take a nosedive
'I think (farmers) are undersold'
MarketsFarm — A huge drop in canola prices could be looming, according to analyst Wayne Palmer of Exceed Grain in Winnipeg. Palmer pointed to Prairie farmers and said, “I think they are undersold.” He surmised too many farmers have held off from selling their canola, in hopes of getting a great price the next time […] Read more
CBOT weekly outlook: Crop prices soften after USDA report release
MarketsFarm — An unexpectedly bearish supply/demand report from the U.S. Department of Agriculture (USDA) last Friday is still putting pressure on crop prices nearly a week later, according to one trader. In the department’s WASDE report, the estimated average yield for corn was revised downward from the month before by only 1.6 bushels per acre […] Read more
U.S. livestock: CME live cattle firm, drought accelerates selling
Lean hog futures follow cash prices up
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures climbed on Wednesday, underpinned as ranchers move up placements of calves amid drought conditions across the southern U.S. Plains, analysts said. “The fall-weaned calves are starting to come through,” said Austin Schroeder, commodity analyst at Brugler Marketing. “Placements have been pushed ahead, with the drought.” […] Read more
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