U. S. hogs end at six-week high as supplies abate

U. S. hog futures closed at their highest level in six weeks at the Chicago Mercantile Exchange Nov. 28 as investors believe the flood of hogs that hit the market this fall is abating, which should mean higher cash markets in the weeks ahead. Cattle futures finished lower, largely the victim of selling by investors

Electronic trading the pits, traders say

Electronic trading of grains is now dominating markets that not long ago were the last bastion of arm-waving, shouting pit brokers, but the easy access to prices and speed has come at a price – wild market swings and lack of trust that is driving away users. The focus of the controversy on the Chicago


U. S. House panel to monitor CDS clearinghouse pace

Futures exchanges from Chicago and New York will be asked to report in early December on their progress in forming clearinghouses to stabilize credit default swaps, a U. S. House of Representatives committee chairman said recently. The clearinghouses are regarded by U. S. regulators as a way to restore liquidity to the swaps market and

Volatile farm prices a worry

EU regulators should discuss with United States authorities ways to curb volatility in agricultural commodity markets so as to avoid unwanted buildups in speculative positions, a draft paper showed Nov. 26. The European Commission, the EU’s executive arm and author of the document, said it would examine the possibility of taking regulatory initiatives in this


Crisis remakes the commodity business

Only the brave or the foolish would make predictions about the future amid the biggest market upheaval in three generations. But it is already clear the crisis is profoundly reshaping the commodity trading industry. The mix of intermediaries, customers and financial resources are all being substantially redrawn. So here are some tentative thoughts on how

U. S. grain group asks forced loadout of CBOT wheat

The National Grain and Feed Association (NGFA) has asked the Chicago Board of Trade to consider forcing buyers of CBOT wheat contracts to take physical delivery of grain in some instances in order to bring the contract and cash grain markets back in sync. The NGFA, the largest industry group of grain buyers and handlers,


Fertilizer prices breach line of support

The news is always the most bullish at the top. In the last month or two we have all heard the news about higher fertilizer prices. Let’s take a look at this market from both a technical and fundamental perspective now that world fertilizer prices are easing. You may not be aware, but it is

Province’s hail claims above average

Manitoba farmers filed over 3,500 insurance claims for hail damage during the 2008 growing season, which according to the Canadian Crop Hail Association is above the province’s five-year average. Manitobans can expect about $16 million in paid-out claims for the $46 million they paid in premiums, making their average payout per claim “much lower” than


FarmPure creditors take Pickseed’s offer

Officials from Pickseed were able to provide producers and others “with a greater comfort level” Unsecured creditors of FarmPure Seeds have agreed to take a deal that may see them get back six cents on every dollar they’re owed by the Regina firm. Pickseed, a well-known Ontario forage seed and turf-grass company that plans to

MGE converts to electronic platform

After more than 125 years, open-outcry trade in wheat futures at the Minneapolis Grain Exchange will cease Dec. 19 when the exchange goes fully electronic, the exchange said Oct. 24. The exchange’s board of directors unanimously approved the move, pending approval by ownership in a ballot next month. Hard Red Spring wheat futures, launched in