Chicago | Reuters – Chicago Mercantile Exchange lean hog futures ended higher on Friday as the market recovered after sliding to life-of-contract lows this week. The market was due for a bounce as losses were overdone, brokers said. “We’ve been on just about a complete downhill slide,” said Karl Setzer, brokerage research lead at Mid-Co
U.S. livestock: CME hog futures recover after ‘complete downhill slide’
U.S. grains: Chicago grains higher after week of Black Sea doubts, China demand
Reuters – Chicago wheat rallied on Friday amid market talk of Russia possibly halting wheat exports, while corn futures continued to climb and closed higher for the second week in a row on hearty Chinese demand. Russian business newspaper Vedomosti reported that Moscow could recommend a temporary halt in wheat and sunflower exports. Later, though, sources told Reuters that
Soy complex crushed by selloffs
While canola had undergone another week of sharp losses before bouncing back with a double-digit gain on March 23, the Chicago soy complex also had a week to forget. The May soybean contract fell to US$14.1950 per bushel at the end of March 23 after a one-day, 29-cent drop. It was the ninth negative session
Tyson Foods plant closure raises antitrust concerns among US farmers, experts
Reuters – Tyson Foods Inc TSN.N gave its chicken suppliers two months’ notice of its plan to shut a Virginia processing plant in May, raising concerns among farmers and legal experts about the company’s compliance with antitrust regulations requiring it to give 90 days’ notice before ending a contract. The planned closure of the plant has left
Canola fund short position still rising
Managed money net long in soybeans
MarketsFarm — The size of the fund short position in continued to rise in early March, according to the latest Commitments of Traders data out from the U.S. Commodity Futures Trading Commission (CFTC). As of March 7, the net managed money short position in canola came in at 46,222 contracts (61,998 short/15,776 long), an increase
Insurers covering Ukraine grain corridor shipments for now
More clarity needed soon, Lloyd's exec says
London | Reuters — Insurers continue to cover grain shipments from Ukraine through a United Nations-backed corridor although more clarity will be required soon, a senior Lloyd’s of London official said on Thursday, after the export accord was renewed for at least 60 days. The deal allowing the safe wartime export of Ukrainian grain from
China agrees to resume imports of Brazilian beef
Beijing authorizes four new Brazilian plants
Beijing/Sao Paulo | Reuters –– Efforts by the Brazilian government to lift a month-long ban on beef exports to China paid off on Thursday, as Beijing agreed to resume imports while also approving four new beef packers based in Brazil, according to authorities in both countries. China’s General Administration of Customs approved the resumption of
Feed weekly outlook: Domestic grain prices slipping
Prairie wheat, barley on par with U.S. corn
MarketsFarm – Feed wheat and barley prices in Western Canada have slowly trended lower over the past few months, with prices for both grains now on par with imported corn from the U.S. into Alberta’s key Lethbridge feedlot alley. All three grains are trading at around $410 per tonne into Lethbridge, according to Jim Beusekom,
U.S. grains: Chicago corn, wheat reverse gains to close lower
Export sales of wheat, soybeans fall below forecasts
Mexico City | Reuters — Chicago corn futures reversed session gains to close lower Thursday, with the most-active contract hitting its highest price since February on a boost from Chinese demand. Wheat futures also closed lower in rangebound trade after earlier gains, pressured by disappointing export data and inter-market spreading against K.C. wheat futures, traders
U.S. livestock: CME hogs slide to new contract lows, finish mixed
April live cattle down, feeders up
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures crumbled to new life-of-contract lows on Thursday, before finishing mixed, on concerns about poor demand for U.S. pork, analysts said. The market has tanked since last week, with additional pressure stemming from weak cash prices and larger-than-expected supplies of hogs. The front-month contract is down