Cattle prices remain strong despite the heavy influx of cattle heading to Manitoba’s auction marts during the fall run, according to Allan Munroe of the Killarney Auction Mart. “I think there’s a shortage of market-ready fat cattle. There’s strong demand and dwindling supply,” he said, noting a large number of light cattle are coming in
‘Strong demand and dwindling supply’ seen on cattle
More variation is seen in cattle coming to Manitoba markets
ICE weekly outlook: Funds in control of market – for now
Spec funds were keeping a close eye on the weather in Brazil says analyst
With a record short position in canola, managed money is largely in control of the market according to analyst Wayne Palmer of Exceed Grain in Winnipeg.
USDA’s WASDE report throws a few curveballs
Corn carryover up significantly
MarketsFarm — There were some surprises in the November world agricultural supply and demand estimates (WASDE) from the U.S. Department of Agriculture, released Thursday. USDA defied trade expectations when it came to 2023-24 ending stocks of U.S. corn, soybeans, and all wheat, with those being higher. As well, the department came in above what the
CBOT weekly outlook: Small changes expected in November WASDE
'Corn is going to be an issue in Brazil'
MarketsFarm — There will likely be some minor tweaks to the November supply and demand report from the U.S. Department of Agriculture on Thursday. USDA is set to publish its world agriculture supply and demand estimates (WASDE) at 11 a.m. CT. “I would say the [U.S.] corn production estimates are very likely to hold steady,
Brazil’s second corn crop facing delays
Acres either too dry or too wet for planting
MarketsFarm — There remained little doubt that Brazil’s corn safrinha (second) crop will be smaller than initially anticipated, according to Dr. Michael Cordonnier of Soybean and Corn Advisor Inc. He chalked up most of that due to conditions being too dry and too wet for the planting of Brazil’s soybean crop, depending on the region.
Prairie cash wheat: Weaker U.S. values pull down Canadian prices
Lower export sales drag on U.S. wheat
MarketsFarm — Wheat prices across the Canadian Prairies fell back during the week ended Nov. 2, with losses in Canada Western Red Spring and Canada Prairie Spring Red wheats, while those for Canada Western Amber Durum were mostly lower. The U.S. wheat complex lost ground during the week, due in part to lacklustre export sales.
Feed weekly outlook: Prices to continue slipping back
Feedlots covered for now
MarketsFarm — Feed prices are set continue grinding lower for the balance of 2023, “as domestic end users are covered,” according to Jim Beusekom, president of Market Place Commodities in Lethbridge. Beusekom pointed to the amount of contracted corn being imported from the United States as well as better-than-expected yields across the Prairies this harvest.
It wasn’t a good week for canola prices
The soy complex drags on canola values
Canola prices for the week ended Oct. 26 took a hard hit, with the front contracts falling well below the psychological support level of $700 per tonne. A big reason for those declines was canola’s faithfulness to the soy complex on the Chicago Board of Trade, and in particular soyoil. The path taken by the latter
Oat cash prices don’t immediately follow CBOT movement
One trader can push market around, trader says
MarketsFarm — While oats on the Chicago Board of Trade rallied recently, upward movement in cash prices was varied. Even as that rally came to its eventual end, cash prices on the Canadian Prairies did not budge a great deal. Over nine consecutive sessions, the December oat contract at Chicago pushed higher by 29.5 U.S.
Pulse weekly outlook: Lentils shift in narrow range
Farmers seen sitting on product for now
MarketsFarm — Price movement for most western Canadian lentils held narrowly rangebound for the week ended Monday. Prairie Ag Hotwire reported most prices remained one cent per pound of unchanged. To Marcos Mosnaim of Export Packers, there were two central reasons for such sparse movement in lentils. “On one side… I will say the lack