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Consumers stock up at a Singapore supermarket on Feb. 7, 2020 after the state raised its coronavirus outbreak alert to orange.
Grain Markets, Markets

Risk-off trade sentiment outweighing market fundamentals

Crops still out on the fields cast clouds over StatsCan’s latest data

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The novel coronavirus epidemic accounted for many of the headlines moving the grain and oilseed markets during the first week of February, with traders uncertain over what the outbreak will do to the global economy and demand for food. China is a major driver of international markets, and an economic slowdown there will cause ripple effects elsewhere. Equity,
(Dave Bedard photo)
Crops, Markets

Bunge profit tops estimates on South American results

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Chicago | Reuters — Agricultural commodities trader Bunge reported a stronger-than-expected quarterly profit on Wednesday as rising crop prices boosted farmer sales in South America and swelled margins in its large agribusiness segment, sending shares up more than three per cent in pre-market trading. But uncertainty about global trade and demand for Bunge’s food and
(iStock/Getty Images)
Hogs, Livestock, Markets

North American hog markets wracked by coronavirus

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MarketsFarm — Besides shutting down entire cities and killing more than 1,000 people, China’s novel coronavirus outbreak has wreaked havoc on North America’s hog futures. “It’s a dubious relationship, but it is impacting markets,” said Tyler Fulton, risk management director for Hams Marketing Services in Winnipeg. Lean hog futures moved “in concert with drops in
A worker checks the temperature of a passenger arriving into Hong Kong International Airport with an infrared thermometer on Feb. 7, 2020. (Photo: Reuters/Hannah McKay)
Livestock, Markets

Coronavirus disrupts China meat imports, food supplies

Swine fever has created pork shortage

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Chicago | Reuters — Coronavirus is disrupting meat shipments to China as the country faces a shortage due to an outbreak of a fatal pig disease, Tyson Foods Inc and U.S. agricultural groups said on Thursday. An outbreak of African swine fever, which infects only pigs, has decimated China’s herd, pushing Chinese pork prices to
Tourists take a selfie in front of Rome’s Trevi Fountain on Jan. 31 after two cases of novel coronavirus 2019-nCoV were confirmed in Italy.
Grain Markets, Markets

Canola drops as coronavirus outbreak rattles commodities

A lower loonie makes Canadian crops relatively attractive overseas

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Canola values incurred sharp losses during the week ended Jan. 31, steadying only slightly at mid-week thanks to support from the Canadian dollar. Headlines have been dominated by the rapidly spreading coronavirus outbreak, which originated in the Chinese city of Wuhan. As of Jan. 31, nearly 10,000 cases have been reported, and over 150 lives lost. Financial and
China’s recently signed trade deal with the U.S. promised to buy at least an additional US$12.5 billion worth of U.S. farm products in 2020 and at least US$19.5 billion in 2021.
Markets, News

U.S. Agriculture Secretary Perdue uncertain on coronavirus effects

U.S. ag secretary unsure if coronavirus will slow China’s farm imports

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U.S. Agriculture Secretary Sonny Perdue said January 29 he does not know whether China’s coronavirus outbreak will upset Beijing’s pledge to radically increase purchases of American farm goods as part of the countries’ recent trade deal. The virus has cast further doubt on China’s ability to buy US$36.5 billion of U.S. agricultural goods in 2020.
ICE Futures March 2020 canola with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

ICE weekly outlook: Canola correcting off lows

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MarketsFarm — The ICE Futures canola market fell sharply over the last half of January but have turned the corner during the first few trading days of February. “I think we have room for some corrective gains,” MarketsFarm Pro analyst Mike Jubinville said of the recovery in canola. The March contract hit a session low
CBOT March 2020 wheat with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Soybeans rise for third session

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Chicago | Reuters — U.S. soybean futures rose modestly on Wednesday as strength from global equity markets and soyoil futures offset worries about export demand for U.S. oilseeds, traders said. Wheat futures firmed on technical buying. But corn drifted lower in rangebound trade as uncertainty about demand hung over the market. Chicago Board of Trade

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