Chicago | Reuters — U.S. wheat, corn and soybean futures tumbled on Tuesday, pressured by macroeconomic worries, strong competition for global grain export business and some forecasts for beneficial Midwest rains next month that could bolster production prospects, analysts said. “The wetter outlook removed the one factor providing stability for the grain and oilseed markets,
U.S. grains: Wheat, corn, soy fall on uncertain demand, weather
Sagging equities, crude oil also bearish on grains
U.S. livestock: CME lean hogs limit-up on bargain buying
Cash and beef values lift cattle futures
Chicago | Reuters — Chicago Mercantile Exchange hog futures surged their daily limit on Tuesday, rebounding from Friday’s life-of-contract lows on a round of bargain-buying and short-covering toward the end of the month, and as feed grain futures fell sharply, traders said. “It really got grossly overdone to the bottom side,” said Dennis Smith, commodity
Klassen: Canadian feeder market rationing demand
Improvement seen in feeding margins
For the week ending Saturday, western Canadian feeder markets averaged $3-$6/cwt higher compared to seven days earlier. Weakness in the Canadian dollar along with strength in the deferred live cattle futures set a positive tone. Recent rains have enhanced yield potential for the Canadian barley crop, which also underpinned nearby cash values. Alberta packers were
Alberta ag minister, ag critic hang onto seats in election
Governing UCP retains smaller majority
Alberta’s incumbent agriculture minister and official opposition ag critic both appear set to return to the legislature as Premier Danielle Smith’s United Conservatives (UCP) are expected to form a majority government. At about 1 a.m. Alberta time on Tuesday, Smith’s UCP was elected or leading in 49 of 87 constituencies; all remaining 38 went to
Canada’s combine sales up in April
Small tractor sales drag on total retail movement
Retail sales of combines in both Canada and the U.S. showed a marked increase in April this year while the market for sub-compact tractors continues to soften, new data shows. The count for April 2023 from the Association of Equipment Manufacturers (AEM) puts self-propelled combine sales in Canada at 166, up 50.9 per cent from
April grain deliveries see increases all around
Barley deliveries up sharply
MarketsFarm –– Producer deliveries of major grains last month were up nearly 40 per cent when compared to April 2022, according to Statistics Canada (StatCan). In April 2023 more than 3.44 million tonnes of grain were delivered, versus 2.46 million a year ago. The uptick in deliveries continued to demonstrate the sizeable harvest farmers reaped
Net farm income down in 2022 despite high commodity prices: StatCan
Hike in farm fuel, fertilizer and feed costs is the largest in nearly 50 years
Farmers’ realized net income dropped by over eight per cent in 2022 as expenses outpaced the rise in cash receipts, a new Statistics Canada report says. Realized net income is the difference between cash receipts and operating expenses, minus depreciation and plus income in kind. When cannabis is included, realized net income dropped by nearly
Prairie Forecast Update: A few small tweaks
Forecast issued May 28, covering the period from May 29 to 31
The weather regime across southern and central Canada is currently being dominated by a large sprawling surface high over eastern regions with a slowly digging trough of low pressure over the West Coast. The flows around these two features have been producing warm summer-like conditions across the eastern Prairies with slightly cooler conditions as you
Black Sea grain deal slow to get moving after extension
Ukraine says Russia has effectively frozen out one port
United Nations | Reuters — A deal allowing the safe wartime export of grain and fertilizer from Ukrainian Black Sea ports has not yet resumed full operations, the United Nations said on Friday, having come to a halt before Russia’s decision last week to extend it. The pact called the Black Sea Grain Initiative, brokered
Ford to keep AM radio, CEO says
Amid rising concerns, Canada's premier automaker will not drop AM
Ford Motor Co. has gone back on its plan to phase AM radio out of its vehicles. Ford CEO Jim Farley made the announcement Tuesday via Twitter, after company officials said last month that AM would be dropped from new non-commercial vehicles. “After speaking with policy leaders about the importance of AM broadcast radio as
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