Brussels | Reuters — The European Commission said Friday it had reached a deal in principle to allow transit of Ukrainian grain to resume through five European Union countries that had imposed restrictions. Bulgaria, Hungary, Poland, Romania and Slovakia cited concerns that grain from Ukraine meant to be exported to other countries had ended up
Deal reached to resume Ukraine grain transit with five EU countries
Agreement includes support package for local farmers
U.S. grains: Chicago grains up off new lows, end week higher
Wheat rebounds off another 21-month low
Reuters — Chicago grain and soybean futures ended higher on Friday after posting fresh lows earlier as traders anticipated hefty global supplies and kept an eye on weather in the U.S. Bouts of short covering ahead of the weekend lifted contracts after corn, soy and wheat futures all struck multi-month lows this week. Recent rains
U.S. livestock: Hog futures rise on cash market strength
CME cattle futures mixed
Chicago | Reuters — Chicago Mercantile Exchange hog futures rose on Friday, supported by strength in the cash market and good overseas demand for pork, traders said. Cattle futures were mixed, with feeder cattle contracts easing on a round of profit-taking after setting new contract highs while live cattle contracts ended firm. CME’s most-active June
PSAC federal worker strike could hit at grain transport
Prolonged strike could cause grain shipment delays, lead to demurrage costs
The Public Service Alliance of Canada (PSAC) strike is drawing fire from Canadian agricultural commodity groups — mostly concerned with how grain transportation could be disrupted. The Western Canadian Wheat Growers Association issued a strongly worded press release on Tuesday after striking picketers targeted Vancouver’s Cascadia grain terminal, co-owned by Viterra and Richardson International. “A
‘Unexpectedly high’ fuel costs lift railways’ revenue index
VRCPIs for CN, CP increased for 2023-24
The index that determines how much Prairie grain handling revenue Canada’s big two railways get to keep will be raised in the coming crop year, mainly on way-higher-than-expected fuel costs. The Canadian Transportation Agency (CTA) on Thursday announced the volume-related composite price index (VRCPI) for Canadian National Railway (CN) for 2023-24 will be 1.8295, up
U.S. grains: Chicago wheat, corn hit fresh lows
Export competition, China cancellations drag on futures
Mexico City | Reuters — Chicago wheat futures fell for a seventh straight session on Thursday and touched a 21-month low on export competition while corn hit a nine-month low, walloped by cancellations of U.S. corn sales to China. The most-active wheat contract on the Chicago Board of Trade (CBOT) dropped 12-3/4 cents to settle
U.S. livestock: Cattle futures firm as corn prices fall
Lean hog futures down on profit-taking
Chicago | Reuters — Chicago Mercantile Exchange cattle futures ended firm on Thursday as corn futures sank to a nine-month low. Falling corn prices raised prospects for reduced feeding costs, traders said. Hog futures weakened, pressured by a round of profit taking after hitting their highest since April 4. The gains in cattle were kept
Buy or rent? Land rent-to-price ratio can help farmers decide
FCC sees current ratios on farmland as (roughly) stable
Higher interest rates don’t seem to be affecting the ratio between land values and land rental costs — at least, not yet. Farm Credit Canada’s latest analysis of farmland rental prices says they’re roughly maintaining their traditional linkage, says J.P Gervais, the organization’s chief economist. “We were curious to see whether that would bring up
ICE weekly outlook: StatCan’s canola area estimate questioned
Traders predict significant increase ahead
MarketsFarm — Statistics Canada on Wednesday released its first survey-based seeding intentions report for the 2023-24 marketing year, reporting an anticipated 0.9 per cent rise in canola acres, to 21.6 million. The figure occupied the lower end of trade expectations, but StatCan recently adopted a new methodology of conducting the survey last December and January,
Feed weekly outlook: Grain area to increase this year
Oats area expected to be reduced
MarketsFarm — Early signs point to increased Canadian feed grain production in 2023-24, with record corn acreage intentions and increases in both barley and wheat area on the year, according to the latest estimates from Statistics Canada. Planted corn area in the country is forecast at 3.725 million acres in 2023, which would be up
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