Ontario soybean stocks are expected to drop to historical lows at the end of the 2020-21 crop year due to the year-over-year increase in export and domestic demand. Quick look Soybeans: South American crop will have an impact on prices after March. Corn: Earlier-than-usual export holding Ontario corn prices. Wheat: Russian, Ukraine wheat limits supportive […] Read more
Soybeans, corn, wheat continue strong runs
Soybean demand remains firm in midst of heavy farmer selling
Klassen: Feeder cattle market in price-discovery phase
Compared to last week, Alberta feeder cattle markets were relatively unchanged while Manitoba and Saskatchewan prices were down $2 to as much as $5 in some cases. Alberta packers were buying fed cattle on a dressed basis in the range of $248-$250, up $4-$5 from last week. Strength in the fed cattle market spilt over […] Read more
Klassen: Higher feed grain prices continue to pressure feeders
Compared to mid-December, western Canadian yearlings traded $3-$5 lower; mid-weight calves are down $4-$6 while calves under 550 lbs. remained firm. Buyers exhibited a defensive tone on heavier yearlings and discounts were more severe on fleshier cattle last week. There is absolutely no risk appetite for 850-plus-lb. cattle at this time of year. Demand for […] Read more
Drier South American conditions supporting soybean prices
Russia planning tariffs on grains as of February
Statistics Canada’s final crop survey confirmed above-average yields for Ontario corn and soybeans; however, winter wheat yields came in similar to the five-year average. Quick look Soybeans: Ontario 2020 production was higher than the five-year average. Corn: Corn production in Ontario is up .3 million tonnes over the five-year average. Wheat: Canadian non-durum wheat stocks […] Read more
Klassen: Feeder cattle prices digesting uncertainty
Defensive tone likely through January
The feeder cattle market was very quiet during the last week of December with auction barns in holiday mode. There were discussions regarding direct sales but no actual business was confirmed. The stakes are too high given the market uncertainty; a defensive tone will likely continue throughout January. Feed grains continue to percolate higher; the […] Read more
Klassen: Lighter calves end year on positive tone
Compared to last week, Western Canadian feeder cattle prices were $2 lower to $3 higher depending on the region. Many auction markets were in holiday mode last week and thinner volumes made the market harder to define. Generally speaking, the market was supported by stronger deferred live cattle futures and a slightly weaker Canadian dollar; […] Read more
Klassen: Fed cattle prices supporting calf market
Alberta packers were buying fed cattle in the range of $139 to $140 last week, up $1 to $2 from seven days earlier. Strength in the nearby fed cattle market along with the recent rally in the live cattle futures has been supportive for calves under 600 pounds. Compared to last week, Western Canadian yearling […] Read more
Klassen: Feeder cattle market volatility continues
Compared to last week, western Canadian feeder cattle markets traded $3 lower to $3 higher. Prices were generally steady to $3 higher on Friday after the U.S. Department of Agriculture lowered its estimate for second-quarter beef production by 125 million lbs. in Thursday’s world agricultural supply and demand estimates (WASDE). Fed and feeder cattle futures […] Read more
The top is likely in for soybean markets
Analyst predicts there is still more room for growth in corn prices
At the beginning of December, Ontario elevator spot soybean bids were hovering around $15 per bushel, up 40 cents per bushel from mid-November and the highest levels since June 2016. Quick look Soybeans: Exports and domestic usage both up from 2019. Corn: Ontario corn exports are 10 times greater than last year. Wheat: Russian government […] Read more
Klassen: Feeder market takes direction from live cattle futures
Compared to last week, western Canadian yearling markets traded steady to $4 lower; midweight calves traded $3 lower to $3 higher and calves under 550 lbs. were relatively unchanged. Yearling supplies are limited at this time of year but demand is also hard to find. These cattle will come on the fed market during the […] Read more
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