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Tag Archives Drought

CME June 2024 live cattle with 20-day moving average and October 2023 live cattle (black line). (Barchart)
Livestock, Markets

U.S. livestock: CME feeder cattle, deferred live cattle set highs on tight supply

Hog futures down on lower export sales

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Chicago | Reuters — U.S. feeder cattle futures and deferred live cattle futures climbed to new peaks on Friday, as limited U.S. supplies continued to propel prices. Inventories of U.S. cattle dwindled to their lowest levels in decades after producers reduced their herds over the last year because drought reduced the availability of pastures for
File photo of idled equipment in drought conditions on a farm in New South Wales, Australia. (f.ield_of_vision/iStock/Getty Images)
Crops, Markets, Weather

Australian crop estimates adjusted slightly lower

Crop seen down 34 per cent from last year

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MarketsFarm — Total 2023-24 winter crop production in Australia, at an estimated 45.2 million tonnes, is expected to be 34 per cent off the record highs hit last year but slightly above the June forecast as upward revisions to canola and barley counter a downward revision to the wheat number, according to the latest crop
CBOT December 2023 soft red winter wheat with 20-day moving average, MGEX December 2023 hard red spring wheat (yellow line) and K.C. December 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Weather

U.S. grains: Wheat up off three-month low as Australian crop declines

U.S. corn, soy crop ratings fall more than expected

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Chicago | Reuters — Chicago Board of Trade wheat futures edged higher on Tuesday, after hitting a three-month low, amid short covering and concerns about dry weather threatening production in export hubs including Australia. Corn futures also rose, while the soybean market eased as traders awaited the start of U.S. harvesting. After the markets closed,
“…we will continue to work closely with provinces to get producers the additional support they need as quickly as possible.” – Lawrence MacAulay, Agriculture and Agri-Food Minister.
Livestock, News

Nineteen municipalities named for livestock tax deferral

Agriculture and Agri-Food Canada announced the initial list of areas eligible for the 2023 tax break Aug. 21

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Western Canada’s continued drought issues this year led the federal government to jumpstart identification of areas where producers can get in on the livestock tax deferral provision — including a chunk of south-central Manitoba. Why it matters: Much of central Manitoba had less than 60 per cent of normal rainfall for the growing season as
CBOT November 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Soybeans dip, despite exports

Damage to Canada's durum could impact pasta prices

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Chicago | Reuters — Chicago soybean prices fell for a second session on Wednesday, despite recent export activity, with analysts pointing to traders squaring positions heading into the end of the month. Wheat traded higher, supported by global demand and concerns about Canada’s crop. Corn was near even as traders wait for the harvest to
(Iggi_Boo/iStock/Getty Images)
Crops, Markets, Pulses, Weather

Pulse weekly outlook: Lentils, peas show large declines in StatCan report

Chickpea, soy production expected up on the year

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MarketsFarm — Statistics Canada (StatCan) showed a mostly tightened outlook for Canadian pulses in its first model-based supply/demand estimates for the 2023-24 marketing year. StatCan on Tuesday released those projections, which largely presented a reduction in yields due to ongoing dry conditions on the Prairies. As of July 31, Canadian dry field pea output was
(File photo by Dave Bedard)
Crops, Markets

Canada to harvest less wheat than expected due to drought

Canola, barley, oats output also projected lower

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Winnipeg | Reuters — Canadian farmers will harvest less wheat than expected after dry conditions in parts of the Prairie provinces shrunk yields, a government report showed on Tuesday. Drought is expected to send global wheat stockpiles for major exporters to the lowest levels in more than a decade, a Reuters analysis has shown. Canada
Container ships pass through locks on the Panama Canal in this file photo. (CIA.gov)
Crops, Weather

Panama Canal’s drought-induced bottleneck eases

Some vessels detour; transits per day still reduced

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Panama City | Reuters — A backlog of vessels waiting to pass the Panama Canal due to drought-related restrictions has eased in recent days after the waterway’s authority authorized more non-booked ships to pass and as others are choosing alternate routes to avoid the delays. The Panama Canal Authority last week opened two additional slots
File photo of farmland around an abandoned farmstead near Swift Current, Sask. (ImagineGolf/iStock/Getty Images)
Livestock, Weather

Saskatchewan front-loads AgriRecovery funding

Joint federal-provincial program development still underway

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The Saskatchewan government says it will put up to $70 million toward “immediate measures” to support livestock producers, ahead of an expected federal-provincial AgriRecovery program for that purpose. Application forms are expected to be available via Saskatchewan Crop Insurance Corp. (SCIC) “in the coming days” for funding “to help offset extraordinary costs of feeding livestock

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