CBOT July 2021 soybeans (candlesticks) with 20-day moving average (dark green line) and CBOT July 2021 corn (orange line, left column). (Barchart)

U.S. grains: Corn, soy drop; soyoil limit-down

Spring wheat futures guide wheat markets lower

Chicago | Reuters — U.S. corn and soybean futures eased and soyoil futures plunged by their daily trading limit on Friday on concerns about demand for renewable fuel feedstocks after news the White House was considering offering fuel refiners relief from biofuel blending mandates. The Reuters report that the U.S. Environmental Protection Agency was pondering


CME August 2021 live cattle (candlesticks) with 20- and 100-day moving averages (dark red and black lines) and CME July 2021 lean hogs (pink line). (Barchart)

U.S. livestock: Cattle gain on strong packer margins

Profit-taking sinks hogs

Chicago | Reuters — Chicago Mercantile Exchange (CME) cattle futures firmed on Friday on strong beef plant margins and good demand from packers for fed cattle, traders said. Cash beef prices have flattened after a prolonged run higher, but packers continue to make a large profit on each animal slaughtered. “We’re probably seeing that our

Canadian Financial Close: C$ weakens

By MarketsFarm WINNIPEG, June 11 (MarketsFarm) – The Canadian dollar fell to its weakest level in nearly a month relative to its United States counterpart on Friday as the U.S. dollar strengthened ahead of next week’s Federal Reserve interest rate announcement. The Canadian dollar closed at US$0.8232 or US$1=C$1.2148 on Friday, which compares with Thursday’s


Rising beef prices squeeze carnivores from Buenos Aires to California

China’s appetite and higher feed prices see beef prices rise around the globe for consumers

Reuters – Beef prices are surging worldwide, taking meat off the menu in steak-loving Buenos Aires and spoiling summer barbecues in the United States as Chinese imports rise and the cost of feeding cattle soars. Globally, the surge is contributing to the highest food prices since 2014, according to the United Nations food agency, hitting

Cattle numbers likely to drop as prices hold steady

Cattle numbers likely to drop as prices hold steady

Lack of regrowth on pastures may send more cattle to market

Prices at six of Manitoba’s eight cattle auctions didn’t see much movement overall for the week ended June 3. Now on a biweekly schedule, the auction marts at Ashern and Ste. Rose skipped this week, with their next sales on June 9 and 10 respectively. At Winnipeg Livestock Sales, field representative Scott Anderson said slaughter


ICE Canola Midday: Rain washing away new crop prices

Liquidation of old crop July continues

By Glen Hallick, MarketsFarm WINNIPEG, June 11 (MarketsFarm) – New crop canola futures on the Intercontinental Exchange (ICE) were taking a hit at midday Friday, after rain fell on parts of the Prairies, but that wasn’t the only factor. Meanwhile, the liquidation of the July contract contributed to its losses. A Winnipeg-based trader said sharp

Global Markets: One billion vaccine doses far from being enough says Oxfam

Calls for breaking of pharmaceutical monopolies on vaccines

Compiled by Glen Hallick, MarketsFarm WINNIPEG, June 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – At the G7 summit in in the United Kingdom the member countries committed on Friday to providing one billion doses of COVID-19 vaccines to the world’s poorest countries. However, Oxfam


ICE canola down sharply Friday morning

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 11 (MarketsFarm) – The ICE Futures canola market was weaker Friday morning, falling in sympathy with the Chicago Board of Trade soy complex. Improving moisture conditions in the dry eastern Canadian Prairies contributed to the decline in canola, as traders took some of the weather premium out of the

Canadian Dollar and Business Outlook: Loonie, gold down

WINNIPEG – The Canadian dollar declined on Friday despite rising oil prices. As of 8:42 a.m. CDT, the loonie was at US$0.8252 or US$1=C$1.2118 on Friday, compared to US$0.8269 or US$1=C$1.2094 when markets closed on Thursday. Crude oil prices continued their rise on Friday. Brent crude gained four cents per barrel to US$72.56. West Texas