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China’s Cofco to partner with Growmark on U.S. grain supply

Reuters — China’s state-owned Cofco International Ltd. (CIL) and U.S. farm co-operative Growmark on Friday announced a new grain supply partnership which they say will enhance links between U.S. grain production areas and global markets, including China. The partnership is the latest expansion move by CIL after it invested US$3 billion to buy Noble Group’s […] Read more

Canadian Financial Close: Loonie rises with inflation data

By Commodity News Service Canada WINNIPEG, August 18 – The Canadian dollar posted strong gains against its US counterpart on Friday, fueled by inflationary data that provided more optimism for the economy. Canada’s all-items consumer-price index in July rose 1.2% from a year earlier. The rise matched analysts’ expectations, according to The Royal Bank of […] Read more

U.S. livestock: Live cattle again sink to nine-month bottom, but off lows

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures pared losses on Friday after falling to their lowest level in nine months, led by this week’s steep cash price drop and seasonally downward-trending wholesale beef values, said traders. Bargain buying and traders covering their short positions lifted contracts from session lows, and futures remained […] Read more

Feed Grains: Corn ticks higher with reports of bird flu

By Commodity News Service Canada Winnipeg – Following are a few highlights in the Canadian and world feed grains markets on Friday, August 18. Feed wheat bids in the key cattle feeding area of Lethbridge, Alberta were in the C$218 to C$235 per tonne range as of August 11, which was down five to seven […] Read more

Pulses: Yellow pea bids soften

By Commodity News Service Canada Winnipeg, August 18 (CNS) – According to a report this summer from Queensland Country Life, chickpea prices will likely be volatile going forward, despite a drastic reduction in this year’s production. Pulse Australia estimates total chickpea production will reach 1.5 million tonnes in 2017/18. That compares to last year’s total […] Read more

North American Grains/Oilseed Review – Canola solidifies position above C$500

By Dave Sims, Commodity News Service Canada Winnipeg, August 18 – THE ICE Futures Canada canola market finished stronger to end the week, pushed up by advances in vegetable oil markets, some speculative buying and slow farmer selling. Canola enjoyed some technical support at the C$500 per tonne level. US soybeans finished higher which underpinned […] Read more

Prairie wheat bids continue descent

Cash wheat values follow U.S. wheat futures’ loss of altitude

Wheat bids in Western Canada continued to soften during the week ended Aug. 11, feeling the pull of downward action in U.S. futures. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were down by $14-$16 per tonne across the Prairie provinces, according to price quotes from a cross-section of delivery points […] Read more

Wheat and US dollars

Bearish USDA report drags on U.S. commodity futures

A sinking loonie worked in canola futures’ favour

The canola market continues to be locked in sideways trade, even as a bearish U.S. Department of Agriculture report temporarily rocked the oilseed world. USDA on Aug. 10 released its monthly supply-and-demand report, in which it raised its estimate for this year’s U.S. soybean harvest to 4.4 billion bushels, a figure nearly on par with […] Read more