Wheat prices have been drifting lower for the past five weeks, taking back the 65-cent gain experienced during the seasonal rally into October. Spring wheat futures prices at the Minneapolis Grain Exchange (MGEX) have slid to a three year low of US$6.9325 per bushel, a price not seen since October 2010. Prices have been under
Drozd: Spring wheat prices continue down slippery slope
Drozd: Corn prices continue to trend lower
Corn on the nearby weekly futures contract has lost 50 per cent of its value since rallying to a record high of $8.43 3/4 in August 2012. Cash prices are closer to $3.50 per bushel — a price not seen since July 2010. Pressuring the market is the U.S. Department of Agriculture’s estimate of a
Drozd: Charts gave early indications of canola market downturns
The price of canola on the nearby weekly futures contract has declined $178 per tonne or the equivalent of $4 per bushel since May 2013. With basis levels deteriorating, cash prices have fallen further — as much as $5 per bushel. Tight ending stocks at the end of the 2012-13 crop year and reduced acreage
Drozd: Lean hog market succumbs to seasonal downturn
Nearby lean hog futures prices have declined 18 per cent since mid-August. The Labour Day weekend traditionally signifies an end to the summer barbecue season, and with packers having satisfied their short-term needs, the resulting reduction in demand is partially responsible for the seasonal downturn in prices. Also weighing on the market is not only
Drozd: Oat market rally nears historical high
Oat futures prices at the Chicago Board of Trade have held up relatively well in comparison to the eight- and nine-month decline in the neighbouring corn and wheat markets. Last month, oat prices on the nearby monthly chart reached US$4.30 per bushel, which is the highest price since July 2008, when the oat market posted
April live cattle futures post new contract low in first quarter of 2013
A drop of $13 per hwt is a classic example of the market topping out when the news is the most bullish
Live cattle prices have been under pressure since peaking in December amid bullish headlines and news that took prices to historic highs. Cattle and calves in the United States according to USDA estimates as of January 1, 2013 totalled 89.3 million head, which is two per cent below the 90.8-million figure recorded a year earlier.Drozd: April live cattle post new low in Q1 2013
Live cattle prices have been under pressure since peaking in December amid bullish headlines and news that took prices to historic highs. Cattle and calves in the U.S., according to U.S. Department of Agriculture estimates as of Jan. 1, totaled 89.3 million head — two per cent below the 90.8 million figure recorded a year
Drozd: Wheat’s short-term trend down, long-term trend up
The wheat market has been under pressure since prices peaked in July 2012. So what has changed since last summer’s high? Wheat futures prices have declined $2.50 per bushel and cash prices have declined $1. The $1.50 difference in price is due to a better basis and a lower Canadian dollar. We have an open
Wheat: Short-term trend down – long-term trend up!
The wheat market has been under pressure since prices peaked in July 2012 So what has changed since last summer’s high? Wheat futures prices have declined $2.50 per bushel and cash prices have declined $1. The $1.50 difference in price is due to a better basis and a lower Canadian dollar. We have an open
Drozd: Corn and soybean prices rally to a record high
For the first time in history, corn reached $8 per bushel on the nearby futures chart and soybean prices posted a new historical high of $17.77 3/4 per bushel on July 20. This exceeded the previous high of $16.63 in July 2008. There are countless headlines depicting the “Drought of 2012” as the worst the
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