The Trump administration is drawing up plans to use tariff revenue to fund a program to support U.S. farmers, the Financial Times reported on Thursday, citing agriculture secretary Brooke Rollins.
Brazilian meatpacker JBS is prepared for a likely shift in the country’s cattle cycle that could lead to reduced availability of animals for slaughter next year. Brazil’s beef exports to the U.S. are expected to drop further.
Chicago | Reuters – Chicago corn and soybean futures sagged on Wednesday, retreating from multi-week highs on profit-taking and an uptick in the dollar, while a drop in soyoil futures added pressure, analysts said. Wheat futures followed the lower trend, with forecasts for rains in the southern U.S. Plains adding to bearish sentiment. Chicago Board
Expect canola futures to fall back in the coming months, said analyst Jerry Klassen of Resilient Capital in Winnipeg. Klassen pointed to the Statistics Canada production update and China as two reasons for the coming declines.
Chicago cattle and hog futures fell for the second day running ahead of Friday’s cattle on feed report. Most-active December live cattle closed at 232.675 cents a pound, down 2.475 cents. October contracts settled at 231.100 cents a pound, down 2.350 cents. Most-traded October feeder cattle futures closed at 349.125 cents per pound, a loss
Highlights Summary Last week’s forecast did well considering the unusually blocking pattern that developed. An area of low pressure did develop as expected over the west-central U.S. It tried to push northwards and eastwards but was kept mostly in place by a strong ridge of high pressure over the central and eastern Prairies. The models
Harvest progress in Manitoba hit the halfway mark during the week ended Sept. 16, according to the latest crop report from the provincial agriculture department.