Chicago | Reuters — U.S. cattle futures were narrowly mixed on Thursday, consolidating around the near eight-year high hit earlier in the week. Limited supplies in the cash market underpinned futures prices. “The packers will have to bid up to get these animals,” said Dan Smith, senior risk manager at Top Third Ag Marketing. “The
U.S. livestock: Cattle futures mixed, remain near highest since 2015
Chicago lean hogs end lower
Alberta plans new ag processing tax credit
Incentive to be introduced in 2023 budget
Alberta has telegraphed plans for a new provincial tax credit in its upcoming budget to spur development in the ag processing sector. The province on Tuesday announced plans for what it calls the Alberta Agri-Processing Investment Tax Credit — a 12 per cent, “non-refundable” tax credit for corporations making capital investments in “value-added agri-processing” in
Saputo to consolidate U.S. cheesemaking, shut three plants
Plans include one new plant, one repurposed
The Canadian company ranked among the three biggest cheesemakers in the U.S. is preparing to consolidate five of its cheese plants in that country down to two. Montreal-based Saputo announced last Thursday it has construction underway on a new $240 million cut-and-wrap cheese plant in the Milwaukee suburb of Franklin, to be up and running
U.S. livestock: Cattle futures firm, tight supplies underpin
Hogs up off 13-month lows
Chicago | Reuters — Chicago Mercantile Exchange cattle futures firmed on Wednesday, supported by tightening cattle supplies and strong cash trade that continue to push front-month futures to near eight-year highs. “The cash price outlook right now is very firm,” said Doug Houghton, technical analyst at Brock Capital Management. “The overall supply outlook is for
CBOT weekly outlook: Latest USDA adjustments do little to move market
Selling pressure short-lived after report
MarketsFarm — Updated supply/demand estimates (WASDE) from the U.S. Department of Agriculture were neutral to slightly bearish for soybeans, corn and wheat, with latest numbers largely coming in line with expectations. The February report is traditionally not a major market mover, with the Chicago futures markets waiting for confirmation on South American crops and for
ICE weekly outlook: March canola unchanged from last week
Loonie's relative strength seen as drag on values
MarketsFarm — The ICE Futures canola market was once again trading rangebound for the week ended Wednesday, as the March contract was left unchanged from one week earlier at $828.20. The contract oscillated between a range of $819.40 and $837 per tonne during the week, all the while seemingly immune from larger price ranges seen
U.S. grains: Chicago wheat, corn, soy firm on WASDE report
South America's weather drags on competing exports
Chicago | Reuters — Chicago wheat, corn and soybean futures firmed on Wednesday, supported by weather conditions in South America that hamper rival exports, though higher-than-expected U.S. supplies limited gains. The most-active wheat contract on the Chicago Board of Trade (CBOT) added 15 cents to $7.64-3/4 a bushel (all figures US$). CBOT soybeans added 4-1/2
Pulse weekly outlook: Chickpea stocks down; lentils, dry peas up
Chickpea prices unchanged before report
MarketsFarm — Statistics Canada on Tuesday tallied up increases in commercial and on-farm stocks of both lentils and dry peas, in its report on grain stocks as of Dec. 31, 2022. Unlike those two pulses, however, StatCan reported total stocks of chickpeas decreased, at 185,000 tonnes in December 2022 compared to 311,000 in December 2021.
Grain stocks come in as projected
StatCan report deemed neutral for canola and spring wheat, supportive for durum
MarketsFarm — Stocks of Canadian grains at year-end appear to be pretty much in line with market expectations. Statistics Canada on Tuesday issued its report on stocks as of Dec. 31, 2022, which highlighted notable increases in most grains, further signaling a recovery from the 2021 drought. “Stocks reports are important because they confirm the
U.S. grains: Corn, soybeans fall ahead of USDA report
U.S. wheat futures end mixed
Chicago | Reuters — Chicago Board of Trade soybean and corn futures fell on Tuesday as investors squared positions ahead of the U.S. government’s key monthly reports on global supply and demand. Traders were focused on the size of the corn and soybean harvests in Argentina as drought stressed the crops in that key global