Chicago Mercantile Exchange cattle futures continued to rally on Tuesday, with feeder contracts setting new all-time highs, as U.S. cash prices remained firm and domestic supplies of replacement animals continued to shrink, market analysts said.
The United States will sell “so much” beef to Australia, U.S. President Donald Trump said on Thursday after Canberra relaxed import restrictions, adding that other countries that refused U.S. beef products were on notice.
As the rest of July plays out, United States soybeans and corn will remain in a weather market, said Sean Lusk, vice-president of Walsh Commodity Hedging Services in Chicago.
The Chinese embassy in Ottawa criticized duties slapped by Canada this week on Chinese imported steel, saying on Friday they violated World Trade Organization (WTO) rules and disrupted the global trade order.
With dry conditions in Australia’s southern production regions, the United States Department of Agriculture attaché in Canberra projected reduced wheat production for 2025/26. The attaché wrote in their report released on July 28 that Western Australia, South Australia and Victoria had low soil moisture levels going into wheat planting and there was below-average autumn rains.
Canada's International Trade Minister said on Thursday that there was interest from both sides to advance trade talks with South American bloc Mercosur, as Ottawa seeks new deals in a push to diversify from the U.S.
Canada and New Zealand have reached a “mutually satisfactory” resolution to a long-running dispute over access for dairy products, the Canadian government said in a statement on Thursday.
Chicago Board of Trade wheat futures fell on Wednesday amid signs of profit-taking and reports of ample global supplies, which are outweighing concerns over smaller Russian crop estimates, market analysts said.
This year’s soft wheat crop in France, the European Union’s biggest producer, is expected to rise to 33.40 million metric tons, up 30 per cent from a rain-hit harvest last year, Argus Media said on Tuesday.