Feed costs trigger inflation

U. S. food prices will rise by at least seven per cent in 2009 because of higher feed costs for chickens, hogs and cattle, said a group of food industry economists Nov. 6. It would be the third year in a row that food prices rose faster than the overall U. S. inflation rate. Food

USDA data snafu lends support, raises questions

“Having a wet planting season does create some difficulties in forecasting a lot of this information.” – Shawn McCambridge, Prudential Bache Commodities The U. S. government’s unprecedented correction of crop data on Oct. 28 gave some relief to grain markets battered by financial turmoil, but it may also have bruised the credibility of the U.


Australian wheat crop almost out of woods

Australia’s wheat crop, initially forecast to be near its biggest ever, is nearly out of the woods after a series of downgrades due to poor rains and recent hot weather, removing one element of uncertainty for global markets. At an estimated 20 million tonnes, the 2008-09 wheat crop will still rank among the best in

Lower grain prices seen dragging down fertilizers

Prices of fertilizer, which soared to record highs late this summer, are poised to come down to earth in coming months as sharply lower grain prices sour demand from farmers. Meanwhile, tight credit markets and growing fears that a global recession may further dampen demand for commodities could add pressure. “Purchasing and applications will be


IGC crop estimates higher

The Internat ional Grains Council (IGC) has raised its estimate for world wheat production in 2008-09 to 683 million tonnes, up seven million from its forecast issued last month. The IGC put the 2007-08 wheat crop at 610 million tonnes. “Crops in several Northern Hemisphere producers, including the EU, Russia, Ukraine, the U. S. and

Russian farmers face financial crunch

“Farmers are having to unload their production at low prices to repay loans.” Russian agriculture needs more than $34 billion from a government rescue package by the end of 2008 to refinance loans and ride out the global financial crisis, the head of the country’s grain industry lobby says. Russian Grain Union president Arkady Zlochevsky



Corn prices drop 50 per cent, ethanol production still high

For three-times-daily market reports from Don Bousquet and RNI, visit “ICE Futures Canada updates” at www.manitobacooperator.ca Grain and oilseed futures at ICE Futures Canada win Winnipeg closed the week ended October 31 mixed, with canola down. Canola declined despite the firm tone in the U. S. soy complex. The lack of fresh demand and a


“Hand-to-mouth” buying bites into PROs

Offset somewhat by recent declines in both the Canadian dollar and ocean freight rates, uncertainty in markets continues to impact buying behaviour among the Canadian Wheat Board’s customers, the board said. Grain processors have drawn down inventories, delayed capital investments and moved to “hand-to-mouth” purchasing at a time of record world wheat supply, the CWB

Fertilizer prices falling, spring may be even cheaper

DON BOUSQUET It’s Your Business For three-times-daily market reports from Don Bousquet and RNI, visit “ICE Futures Canada updates” at www.manitobacooperator.ca Grain and oilseed futures at ICE Futures Canada in Winnipeg closed the week ended Oct. 24 steady in barley and higher in canola in a volatile week as spreading global economic turmoil weighed on