Chicago Board of Trade corn futures jumped to a five-and-a-half month high on Tuesday, after the U.S. Department of Agriculture slashed domestic corn supply forecast by more than the market had expected.
Daily news
U.S. grains: CBOT corn reaches highest level since June on decline in US stockpiles
USDA adjusts world, Canadian canola/rapeseed data
Lowers world, Canadian production
The United States Department of Agriculture made a number of revisions to its data for canola/rapeseed in its monthly world oilseed report. On a particular note, the USDA cut its production estimate for Canada, the world's top producer of the oilseed.
USDA cuts corn ending stocks estimate, soybeans unchanged
Corn ending stocks in the United States will be tighter than earlier projections due to increased exports and demand from ethanol producers, according to updated supply/demand estimates from the U.S. Department of Agriculture released Dec. 10. The projected wheat carryout was also revised lower, while soybean stocks were unchanged.
India top destination for Canadian peas/lentils through October
India was the top customer for Canadian peas and lentils through the first three months of the 2024/25 marketing year, with total exports of both pulse crops running well ahead of the year ago pace.
Grain Growers of Canada elects new executive
Alberta Grains chair Tara Sawyer has been elected chair of the Grain Growers of Canada. Sawyer, a farmer from Acme, Alberta, is the first woman to hold the role, GGC said.
EU eases rules for small amounts of state aid to farmers
Farmers in the European Union will be able to get more state aid without regulatory oversight under new rules approved on Tuesday, the European Commission said.
Klassen: Feeder market continues to surge higher
For the week ending December 7, Western Canadian feeder cattle weighing 700 pounds plus traded $10 to $20 higher compared to seven days earlier. Calves under 700 pounds were up $8 to $10 on average. The markets in Manitoba and Eastern Saskatchewan were premium to Alberta in the heavier categories due to stronger U.S. and Ontario buying interest.
U.S. livestock: Cattle futures gain on wholesale demand, cutout prices
Chicago Mercantile Exchange live cattle futures rose on Monday, bolstered by a bump in wholesale cutout values and signs of ongoing consumer demand, according to analysts.
U.S. grains: CBOT soybean futures ease, corn turns higher ahead of USDA report
Chicago soybean futures dropped on Monday on expectations for a hefty South American crop, while corn futures rose as traders anticipated world supply and demand estimates from the U.S. Department of Agriculture will show smaller U.S. stockpiles.
Thunder Bay grain movement stays strong through November
The Port of Thunder Bay continued to see strong grain movement with only a month to go in the 2024 shipping season. Potash shipments are also up on the year.