The Ontario corn and soybean harvests are well underway and yield reports confirm earlier crop estimates from the trade. We’re not hearing of any major fusarium or disease issues. Quick look Soybeans: Soybeans appear competitive in European markets for the rest of the year. Corn: Ontario yield coming in better than expected. Wheat: Increased wheat […] Read more
Corn basis under pressure with strong harvest yields
Soy prices continue to be buoyed by global factors
Klassen: Feeder market digests rising COVID-19 cases
Compared to last week, western Canadian yearling prices were relatively unchanged while calves traded steady to $2 lower on average. The grain harvest is in its final stages and buying interest was noted from the farmer/backgrounding operator. The buying frenzy over yearlings has eased and finishing feedlots were active on all weight categories. Feather-light calves […] Read more
Klassen: Rising feed grains pressure feeder market
Compared to last week, western Canadian yearling markets traded $3-$6 lower with some reports showing prices as much as $10 lower. Calves traded $2-$4 below week-ago levels; however, the market will be more defined next week, with many auction barns scheduling feature calf sales in the major feeding areas of Alberta. Feeding margins in the […] Read more
Recent rallies create opportunities for pricing corn and soy
There will be more pressure on corn price heading into harvest
Statistics Canada released its second yield estimates for the 2020 crop using a model-based procedure. Winter wheat yields were lower than the previous estimate but higher than last year. Corn and soybean yields were both up from the previous estimates and above last year. Private trade and industry trade estimates are above those of Statistics […] Read more
Klassen: Stronger barley prices weigh on feeder market
Compared to last week, western Canadian yearling prices were steady to $2 lower; calves weighing 500 to 650 lbs. traded $2-$4 lower while lighter weights under 500 lbs. were steady to $5 higher. There is a distinct price structure for each weight category, depending on the time frame for the finished animal. The overall feeder […] Read more
Klassen: Quality features influence feeder cattle prices
Western Canadian yearling markets have traded in a sideways range over the past couple of weeks; major feedlot operators have been aggressive for 800-pound-plus feeders just off grass because these cattle are most efficient and therefore, most profitable. Grass yearlings were quoted steady to as much as $5 higher this past week. Backgrounded yearlings were […] Read more
Crop prices see risk premium boost due to lack of U.S. rainfall
Ontario corn and soybean average production expected to be above 2019
Statistics Canada released its first yield estimates for the 2020 crop using satellite technology on Aug. 31. Soybean yields were lower than expected while corn yields were in line with our projections. Winter wheat production came in at 2.4 million tonnes, the highest output since 2016. Statistics Canada also fine tuned the seeded area while […] Read more
Klassen: Yearling market holding value
Compared to last week, western Canadian yearling prices were relatively unchanged while calves traded $3 higher to $3 lower on average. The yearling run is well underway and there was no shortage of buying interest. Finishing feedlots were very aggressive on quality packages coming fresh off grass. Once again, buyers focused on local cattle, causing […] Read more
Soy price rises with Chinese demand and deteriorating U.S. crop
Ethanol, feed demand help raise corn prices in North America
Over the past 30 days, Ontario temperatures have been one to two degrees above normal while precipitation has been quite variable. A large portion of the Ontario growing region, mainly north of Toronto, received 100 to 150 mm of precipitation. Isolated pockets south of Toronto down to Windsor have received 40 to 90 mm of […] Read more
Klassen: Yearling markets mixed
Compared to last week, yearling prices for western Canadian were down $2-$5 on average with the exception of southern Alberta where prices were relatively unchanged. Major feedlots in the Lethbridge area focused on local cattle which contributed to the firmer tone. Outside of Feedlot Alley, weakness in the deferred live cattle futures had buyers on […] Read more
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