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Markets

CN, CP railways break grain shipping records 

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MarketsFarm – It was a record-breaking year for both of Canada’s two major freight railways. In separate news releases to the public on August 3, both Canadian National Railway (CN Rail) and Canadian Pacific Railway (CP Rail) reported a record amount of grain moved during the 2020-21 crop year. For the first time ever, both
Currency markets

Canadian Financial Close: C$ holds steady

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By MarketsFarm WINNIPEG, Aug. 4 (MarketsFarm) – The Canadian dollar held within a narrow range on Wednesday, largely ignoring the sharp losses in crude oil. The Canadian dollar was trading at US$0.7971 or US$1=C$1.2545 late Wednesday, which was unchanged from Tuesday’s North American close. The value of Canadian building permits was up by 6.9 per
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Crops, Markets

U.S. grains: Soybeans gain on weather concern; global demand pressures corn, wheat

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Chicago | Reuters – Corn and wheat futures slipped on Wednesday, tracking falls in outside energy markets as rising Delta-variant coronavirus cases raised worries that renewed restrictions could limit demand and overwhelmed recent weather concerns for U.S. crops. Chicago soybeans ended higher, supported by a private assessment of the U.S. crop, released Tuesday after the
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Beef cattle, Hogs, Livestock, Markets

U.S. livestock: CME live cattle firm on scarce supply and firmer cash markets

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Chicago | Reuters – Chicago Mercantile Exchange live cattle futures firmed on Wednesday as cash trade firmed and wholesale beef prices march higher, traders said. “We have some tighter market-ready cattle supplies right now. The outlook is for supplies to tighten further later in the year and into next year,” said Doug Houghton, technical analyst
Latin American nations say their beef sector shouldn’t bear the responsibility for cleaning up the messes of others.
Markets, News

Latin America to defend beef production at UN food summit

Region fears their agricultural products will be scapegoated by more powerful blocs

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Reuters – Latin American and Caribbean countries, especially big food producers in South America, will join forces to defend the region’s livestock production at a United Nations’ food summit this month amid concerns over the sector’s environmental impact. Paraguay’s farming and livestock minister, Santiago Bertoni, said in a video conference that the main focus was
Russian bread makers plan to raise prices due to higher costs
Markets, News

Russian bread makers plan to raise prices due to higher costs

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Several Russian bread producers have told retail chains they plan to raise prices by seven to 12 per cent from August due to higher production costs and the limited effect of state support, the Kommersant daily reported July 19. Russia, one of the world’s largest wheat exporters, has introduced a series of grain export curbs
Futures markets

ICE canola firm at midday, but off earlier highs

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 4 (MarketsFarm) – The ICE Futures canola market was holding onto small gains at midday Wednesday, retreating from earlier highs as a downturn in the Chicago soy complex weighed on values. The most-active November contract had rallied by nearly C$30 per tonne in early activity, but ran into resistance

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