MarketsFarm — As harvests of soybeans, corn and spring wheat advanced in the United States, trader John Weyer of Walsh Commercial Hedging Services said the pressure on those commodities was going to continue over coming weeks. “We might test some technical levels, see some selloffs a bit and get some of it back. It’s going […] Read more
CBOT weekly outlook: Harvest pressure weighing on prices
'No heavy concerns about supply in general'
Britain says Russia may target civilian shipping with mines in Black Sea
Intel suggests goal is to deter Ukraine grain exports, Britain says
London | Reuters — Russia may use sea mines to target civilian shipping in the Black Sea, including by laying them on the approach to Ukrainian ports, the British government said on Wednesday citing intelligence. Russia in July pulled out of a deal that had allowed Ukraine to safely ship food products out through what […] Read more
U.S. livestock: CME hog futures break losing streak
CME cattle futures close firm
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures closed firm on Wednesday, snapping a three session losing streak as traders said that the U.S. government’s most recent bearish supply forecast had been priced into the market. Cattle futures were consolidating after posting sharp declines a day earlier, but both feeders and live cattle […] Read more
U.S. grains: Chicago soybeans firm, risk aversion caps gains
Corn and wheat drop, export data eyed
Reuters — Chicago soybean futures edged up on Wednesday, as a declining U.S. dollar lifted the oilseeds at one point nearly one per cent before risk aversion pushed prices back toward their opening levels. Wheat declined and corn was squeezed between them in what one strategist called a seasonal “bottoming formation” for the U.S. agriculture […] Read more
Prairie Forecast: Building western ridge to bring warming trend
Issued Oct. 4, covering Oct. 4-10
Last week’s weather forecast played out close to what the weather models were predicting. Western regions saw cooler-than-average temperatures move in, while eastern regions saw a brief return to summer-like temperatures. This pattern was a response to an area of low pressure that spun up over the central U.S. during the second half of the […] Read more
Manitoba legislature’s agriculture leaders to return under new management
NDP scores majority over incumbent Tories
Manitoba’s incumbent agriculture minister and lead opposition agriculture critic are headed back to the legislature — but under a new seating plan. Opposition leader Wab Kinew’s New Democrats are expected to form a majority government coming out of Tuesday’s provincial election, unseating incumbent premier Heather Stefanson’s Progressive Conservatives. Just after 1 a.m. Wednesday, NDP candidates […] Read more
Pulse weekly outlook: ‘Average’ dry bean crop in Manitoba
Won't be close to last year's 'pretty phenomenal' crop
MarketsFarm — As Manitoba’s pulse harvest neared completion, a provincial pulse specialist says it will vary as to whether dry bean growers are satisfied with the result. Dennis Lange said that 96 per cent of Manitoba’s dry bean crop has already come off the field. In the central region, 97 per cent of its dry […] Read more
U.S. grains: Chicago soybeans drop in choppy trade
Wheat futures lifted by surprise purchase from China
Reuters — Chicago soybean futures fell on Tuesday, at one point nearing their lowest levels since December of 2021, under pressure from a stronger dollar, improving signs for the U.S. harvest and a brisk start to planting in Brazil. Chicago Board of Trade (CBOT) soybeans settled down 0.3 per cent at $12.72-3/4 a bushel. Futures […] Read more
U.S. livestock: CME cattle futures drop on technical selling
U.S. supply outlook drags on hog futures
Chicago | Reuters — Chicago Mercantile Exchange cattle futures fell on Tuesday, pressured by technical selling and demand concerns, traders said. Hog futures notched their third straight losing session as the government’s bigger-than-expected supply report from last week continued to weigh on the market. The benchmark CME December lean hogs futures contract sank 0.425 cent […] Read more
Klassen: Feeder market falters at record highs
Risk premiums in market seen eroding
Compared to last week, western Canadian yearling markets traded $2 to as much as $8 lower on average. Calf markets were relatively unchanged to $10 lower. There was moderate demand for top quality grass yearlings but plainer types experienced softer buying interest. Pre-conditioned calves held value but unweaned bawlers appear to set back $5-$10. Seasonally, […] Read more