Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose on Thursday, with several back months hitting new life-of-contract highs on thin trading, as domestic demand for beef this summer continues to be stronger than expected, traders said. Meanwhile, lean hog futures rose — with the October and December contracts hitting new life-of-contract high […] Read more
U.S. livestock: Live cattle, hogs firm on meaty consumer demand
Production 'probably hit our seasonal peak'
Feed weekly outlook: Prices lower despite mixed growing conditions
MarketsFarm — While not as widespread as last year’s historic drought, some parts of Alberta are still struggling with hot and dry conditions. Suzanne Leclerc, owner of Market Master Ltd. in Edmonton, said growing conditions for feed grains across the province are varied. “As usual for the last couple of years, such a mixed review,” […] Read more
ICE weekly outlook: Late canola crop hinges on weather
MarketsFarm — The ICE Futures canola market held within a narrow range during the week ended Wednesday, with weather conditions heading into harvest likely to dictate the eventual price direction over the next few weeks. “The key right now is the late state of the crop,” said Errol Anderson of ProMarket Communications in Calgary, noting […] Read more
U.S. grains: Corn, wheat futures extend gains on crop risks
Wheat market also weighs prospects for more Ukraine exports
Chicago | Reuters — Chicago Board of Trade corn and wheat futures rose on Wednesday, as hot, dry weather in parts of the U.S. and Europe kept attention on harvest risks, while soybeans settled lower after notching contract highs. Traders also adjusted positions ahead of the U.S. Department of Agriculture’s (USDA) monthly supply and demand […] Read more
U.S. livestock: Hog, cattle futures up on broad commodities rally
Lower-than-expected inflation data provides boost
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose on Wednesday, with the October contract hitting a life-of-contract high on brisk pork demand and broad strength in commodities on signs of decelerating U.S. inflation, traders said. Livestock and other commodities rose along with Wall Street equity markets as lower-than-expected U.S. inflation data drove […] Read more
Lactalis to shift from milk to near-milk at Sudbury
Facility to halt fluid milk processing, switch to plant-based product lines
The processor of the Beatrice and Lactantia milk brands plans to put its fluid milk processing plant in northern Ontario over to plant-based dairy substitutes. The Canadian arm of France’s Lactalis said Wednesday it will stop fluid milk processing and packaging at its plant at Sudbury effective Sept. 30 and convert that plant to a […] Read more
CBOT weekly outlook: Lower inflation, USDA report to impact markets
MarketsFarm — With the U.S. Department of Agriculture (USDA) already set to release its monthly supply/demand estimates on Friday, the U.S. Labor Department threw in a curveball two days prior. The Labor Department on Wednesday reported the annual rate of inflation declined to 8.5 per cent in July, 0.6 of a point lower than in […] Read more
U.N. expects ‘big uptick’ in ships wanting to export Ukraine grain
United Nations | Reuters — The United Nations expects a “big uptick” in ships wanting to export Ukraine grain through the Black Sea after transit procedures were agreed and a goal of two to five million tonnes a month is “achievable,” a senior U.N. official said Wednesday. Russia, Ukraine, Turkey and the United Nations agreed […] Read more
Cargill fiscal 2022 revenue jumps to record US$165 billion
Reuters — Global commodities trader Cargill on Tuesday reported that its fiscal year 2022 revenue jumped 23 per cent from a year earlier to a record US$165 billion. The strong result was the latest for a global agricultural commodities trader after rivals ADM and Bunge reported solid earnings last month amid high farm products prices […] Read more
Feds apologize for Saskatchewan farming colony scheme
Apology comes year after settlement with Peepeekisis Cree Nation
Just under a year after Peepeekisis Cree Nation’s settlement with the Canadian government over the File Hills Colony forced farming scheme, the federal government has made a formal apology. Operating from 1898 to 1954, the File Hills Colony scheme involved what the government today describes as the “involuntary relocation” of graduates from residential schools and […] Read more
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