USDA favours corn with 2012 crop insurance price guarantees

Chicago / Reuters / Crop insurance price guarantees for 2012 should encourage U.S. farmers to plant corn over soybeans, according to analysts. The U.S. Department of Agriculture set the guarantees, which act as the floor price for crop insurance policies, at $5.68 per bushel for corn and $12.55 a bushel for soybeans across most of

Which wheat market best?

The end of the Canadian Wheat Board’s single desk Aug. 1, 2012, will create an increased need for a viable futures market to manage risk and aid in price discovery, said representatives of the Chicago Board of Trade, Minneapolis Grain Exchange, and ICE Futures Canada as they highlighted the benefits of using their respective contracts


Cattle tumble after setting record high

U.S. live cattle futures fell sharply March 2 in a profit-taking setback ahead of the weekend, after posting an all-time high late this week, amid worries that demand for high-priced beef may soon begin to wane, traders said. The plunge came as cash cattle in the southern U.S. Plains traded at a record-high $130 per hundredweight, up

Open interest tiny amid CWB doubts, timing

After nearly four weeks of trading, open interest is tiny in the new milling wheat, barley and durum futures and options contracts offered by ICE Futures Canada. “I don’t think it’s fair to say we were looking for a lot of liquidity at this point in time with the contracts,” said Brad Vannan, president and


Expect canola industry to seek even more acres

ICE Futures Canada canola contracts remained pointed decidedly higher during the week ended Feb. 17, showing no real signs of slowing down. Similar gains in the Chicago soy complex did provide some underlying support to the Canadian futures, but canola was also benefiting from its own bullish fundamental and technical factors. Depending on the chart

Analyst says another price surge unlikely

An economic storm overseas has resulted in a few waves hitting Canadian shores, leaving canola markets slightly dampened by volatility and uncertainty. The European debt crisis, along with a weak American economy, has affected canola markets, ProFarmer Canada’s Mike Jubinville told farmers attending Ag Days. “Certainly this has always been and will continue to be


It’s today’s price, not the future price

Stirling Moss, a famous racing driver of the 1950s, once said that the male of the human species will admit to not being good at just about anything except being a good driver or a good lover. If we are talking about some of the grain farmer subspecies, we might add a third skill, that

Checks and balances needed, post-CWB

With the end of single-desk grain marketing in sight, producers and farm organizations are focusing on filling in the gaps and supporting a stable transition to an open market. “There are more questions than answers,” said Don Dewar, chairman of an ad hoc Keystone Agricultural Producers committee looking at issues grain producers will face in


Cattle prices start 2012 at a new historical high

Live cattle and feeder cattle rallied to a new historical high last week. In reaching $150, feeder cattle prices achieved a technical measurement derived from a rectangle pattern. Rectangles, or box formations as they are sometimes called, are found frequently on futures price charts. Most of the time, they are continuation, or sideways consolidation patterns,