Chicago wheat and corn gained strength on Wednesday as the market monitored a hot, dry spell forecast in parts of North America, but gains were capped by sizeable global supplies.
Daily news
U.S. grains: Chicago grains firm as forecasts call for hot, dry weather
ICE Canada Weekly: Attention on canola to soon turn from yields to demand
At this time there have yet to be any firm estimates as to what canola yields on the Canadian Prairies are most likely to be. However, once those start rolling in, the canola market will shift towards demand, according to broker Tony Tryhuk of RBC Dominion Securities in Winnipeg.
CBOT Weekly: Weather, fund buying raises prices
Despite the majority of all three major United States crops being in good to excellent condition, hot weather and speculative fund buying have lifted prices at the Chicago Board of Trade (CBOT).
Bank of Canada cuts rates, sees weaker economy in 2024
The Bank of Canada on Wednesday trimmed its key interest rate by 25 basis points for the second month in a row, bringing it to 4.5 per cent, and said more reductions in borrowing costs were likely if inflation continued to cool in line with forecasts.
Federal government pledges $8.6 million to Dairy Farmers of Canada
Dairy Farmers of Canada (DFC) will receive up to $5 million over five years to “advance sustainability and public trust, leveraging the proAction quality assurance program,” a federal news release said, and up to $3.57 million over five years to strengthen its DairyTrace cattle traceability system.
Manitoba Crop Report: Crops grow with additional heat
Warmer conditions helped crops across Manitoba advance in their development during the week ended July 21, according to the province’s weekly crop report.
Bunge, Viterra $34 bln deal heading for conditional EU nod, source says
U.S. grains merchant Bunge and Glencore-backed Viterra's $34 billion merger deal is heading towards conditional EU antitrust approval, a person with direct knowledge of the matter said on Wednesday.
Prairie forecast: Heatwave coming to an end
Forecast issued July 24 covering July 24 to 31, 2024
Southern Alberta, southern and central Saskatchewan and Manitoba will see another day or two of hot weather before the northern low drags a cold front southward, which will bring an end to this extended heatwave.
U.S. livestock: Technical trading sends CME livestock futures higher
Chicago Mercantile Exchange (CME) livestock futures turned higher on Tuesday, with cattle futures continuing to firm amid signals that cash market prices may ease, market analysts said.
U.S. grains: Soybeans, corn touch two-week highs on short-covering, weather
The price rally in Chicago Board of Trade (CBOT) corn futures extended into a second day on Tuesday, with the most-active contract Cv1 reaching a two-week high, as traders began to focus on weather-related impacts on the U.S. crop and short-covering, market analysts said.
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