Chicago | Reuters — Weather concerns sparked a rally in U.S. wheat and soybean futures on Monday, with forecasts for dry conditions threatening to reduce harvests in key growing areas, traders said. Chicago Board of Trade soft red winter wheat futures jumped 3.4 per cent to their highest since Aug. 8 on concerns about dryness […] Read more
U.S. grains: Wheat, soy futures jump on weather woes
Market shifts, weather push back Food Freedom Day
Food Freedom Day, the Canadian Federation of Agriculture’s bellwether of affordability for food in Canada, is a day later in 2018. The CFA on Wednesday announced that by its calculations, a Canadian household of average income has earned enough to pay an entire year’s grocery bill on Friday, Feb. 9. Canadians spent 11 per cent […] Read more
Dairy sector wary of proposed food label policy
Canadian consumers are being asked to weigh in on proposed new front-of-pack warnings for foods high in saturated fats, sugars and sodium, starting this weekend. And while whole milk would get a pass from such a plan, Canada’s dairy farmer organization fears many other dairy products would wind up wearing such warnings, thus “alarming” consumers. […] Read more
U.S. grains: Wheat, corn lower in pause after multi-month highs
Chicago | Reuters — U.S. wheat and corn futures fell on Friday, retreating from multi-month highs established a day earlier as traders took profits and focused on prospects for better weather in the drought-hit U.S. Plains wheat belt. Soybeans sagged on much-needed rains in Argentina’s crop belt and worries about U.S. soybean export demand. Broad […] Read more
U.S. Congress near deal on tax law’s impact on grain market
Washington | Reuters — U.S. lawmakers are close to resolving a problem with the new federal tax law that gives grain co-operatives an unintended market edge over private companies, but have had a hard time getting agreement among members of the farm sector, a Republican senator said Thursday. A provision in the Republican tax overhaul […] Read more
USDA lowers U.S. corn stocks view as exports rise
Washington | Reuters — Surging export demand for U.S. corn will cut into domestic stockpiles of the grain by more than expected, the U.S. Agriculture Department said on Thursday. But U.S. soybean stocks were forecast to rise as a bumper harvest in Brazil will allow overseas buyers to source their oilseed purchases from the South […] Read more
U.S. grains: Soybeans hit one-week top
Chicago | Reuters — U.S. soybean futures set a one-week high on Thursday as worries about dry weather curtailing Argentina’s harvest overshadowed bearish data in a monthly U.S. Department of Agriculture report (USDA), analysts said. Corn futures firmed on strong export demand while wheat retreated on profit-taking after multimonth highs. Chicago Board of Trade March […] Read more
La Nina seen likely to fade by spring
Reuters — The current La Nina weather cycle is likely to transition into more neutral conditions by spring, a U.S. government weather forecaster said Thursday. La Nina is characterized by unusually cold ocean temperatures in the equatorial Pacific Ocean and is linked with floods and droughts. It is the opposite phase of what is known […] Read more
Feed weekly outlook: Alberta prices see wide range
CNS Canada — A tale of two markets is emerging in Alberta as feed users in the south take advantage of cheap corn trucked in from Manitoba, while users farther north pay higher prices. “As far as Red Deer north goes, it’s quite different than feedlot alley,” said Joseph Billett, general manager of Agfinity in […] Read more
U.S. grains: Wheat surges on worries about Plains dryness
Chicago | Reuters — Nearby Chicago wheat futures jumped three per cent on Wednesday and hit a four-month high on worries about dry conditions threatening yield prospects in the southern U.S. Plains, analysts said. Corn futures rose on robust export demand for U.S. supplies while soybean futures declined after a choppy session. Chicago Board of […] Read more
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