Chicago | Reuters – CME Group live cattle and hog futures fell on Thursday, pressured by growing fears of a recession that could cut demand for pricey meats, traders said. Losses accelerated due to fund liquidation as the end of the quarter nears. But feeder cattle futures were firm as falling corn prices raised the […] Read more
U.S. livestock: Hog, live cattle futures fall on recession fears
Saskatchewan Crop Report: Rain falls on most of the province
MarketsFarm – Rain fell on all growing regions of Saskatchewan during the week ended June 20 improving growing conditions, according to the province’s weekly crop report released on June 23. Most areas received at least 20 millimetres of rain during the week, with the communities of Prince Albert, Nipawin, Spiritwood and Kindersley all getting more […] Read more
Feed weekly outlook: Barley, wheat prices starting to soften
MarketsFarm – It appears that the days of feedlots on the Prairies primarily using corn may be coming to an end. After nearly a year of feedlots importing corn from the United States, due to tight supply and higher prices for feed barley and feed wheat in Western Canada, demand has mostly turned towards cereal […] Read more
Shipping container issues make Canada uncompetitive
MarketsFarm – Even though harvest in Canada is months away, major issues with shipping by container out of the country needs to be resolved, according to Greg Northey, vice-president of corporate affairs for Pulse Canada and the spokesperson for the Coalition to Fix the Container Crunch. “The worry in the fall is if we have […] Read more
Agropur backs major upgrades for Nova Scotia ice cream plant
Dairy co-op puts up $34M to 'redefine space' at Truro
Major dairy co-operative Agropur is putting up eight figures to upgrade an ice cream and frozen novelties plant it owns in Nova Scotia to handle new premium product lines. The co-operative said June 17 it will invest $34 million in the former Scotsburn plant at Truro, to “redefine the space within the plant (and) support […] Read more
ICE weekly outlook: Falling canola futures snowballing lower
MarketsFarm — ICE Futures canola contracts fell hard during the week ended Wednesday, with little indication of how much more room to the downside there could be. “Once the snowball starts rolling, it just rolls,” analyst Mike Jubinville of MarketsFarm said, adding there were no dynamic changes to the generally supportive canola fundamentals — but […] Read more
U.S. grains: Wheat firms after Russia strikes Ukraine port
Chicago | Reuters – U.S. wheat futures firmed on Wednesday, rebounding from a sharp decline a day earlier as investors covered short positions following a Russian strike on a port in Ukraine that renewed fears about supply shortages, traders said. “Wheat was mostly higher today … after Russia unleashed a missile attack damaging at least […] Read more
U.S. livestock: Hog futures retreat from two-month high; cattle also fall
Chicago | Reuters – CME Group cattle futures fell on Wednesday, as surprise deliveries in Texas showed that cash market supplies were higher than expected, traders said. Hog futures were lower, snapping a streak of four straight higher closes as traders locked in profits from the market’s move to a two-month high. CME July lean […] Read more
Ukraine grain exports 48 per cent down so far in June
Reuters – Ukrainian grain exports in the first 22 days of June fell by 48 per cent from a year earlier to 907,000 tonnes, agriculture ministry data showed on Wednesday. The volumes included 803,000 tonnes of corn, 78,000 tonnes of wheat and 21,000 tonnes of barley, the data showed. Ukraine exported up to 6 million […] Read more
CBOT weekly outlook: Fears over soy scarcity now gone
MarketsFarm – Soyoil prices at the Chicago Board of Trade (CBOT) have been tumbling of late largely due to the markets no longer being afraid of already tight global supplies becoming scarcer, according to Sean Lusk of Walsh Commercial Hedging Services in Chicago, Ill. Lush explained that the South American soybean crop wasn’t as bountiful […] Read more
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