Statistics Canada’s November 2024 yield and production survey confirmed expectations. The outlook for corn and wheat remains bullish for the spring period due to tighter ending stocks from major exporters. The soybean market is expected to remain under pressure due to burdensome fundamentals.
Soybean crop continues to grow year over year
Product value will continue to be under pressure moving into 2025
Klassen: Feeder market consolidates at higher levels
The market continues to digest the U.S. border closure to Mexican feeder cattle, which is drawing more U.S. demand towards Western Canada. Auction market volumes are declining at this time of year. The quality of cattle was sub-par in some regions which caused prices to be quite variable.
Klassen: Feeder market continues to surge higher
For the week ending December 7, Western Canadian feeder cattle weighing 700 pounds plus traded $10 to $20 higher compared to seven days earlier. Calves under 700 pounds were up $8 to $10 on average. The markets in Manitoba and Eastern Saskatchewan were premium to Alberta in the heavier categories due to stronger U.S. and Ontario buying interest.
Klassen: Canadian feeder market jumps on trade disruptions
For the week ending November 29, feeder cattle market reports from Manitoba had prices up $20-$40/cwt from week-ago levels. Prices in Saskatchewan and Alberta were up $10 to $20 on average. The market was hard to define this past week with a wide range prices across Western Canada for similar quality and weight cattle.
Klassen: Upward momentum continues for feeder cattle prices
For the week ending November 23, Western Canadian feeder cattle markets traded $3 to $6 higher with some quality heifer packages up as much as $10 compared to seven days earlier.
Traders surprised by USDA’s reduction in soy, corn yield estimates
Export demand for crops exceeds year-ago levels
On the November World Agriculture Supply and Demand Estimates (WASDE) report, the USDA trimmed the average U.S. corn and soybean yield, which was a surprise to traders. Export demand for North American corn and soybeans is exceeding year-ago levels.
Klassen: Feeder market climbs another step
For the week ending November 16, Western Canadian calves over 650 pounds were up $3-$6/cwt compared to seven days earlier. Calves under 650 pounds traded $4/cwt to as much as $10/cwt higher.
Klassen: Strong demand continues to sustain feeder market
The weaker Canadian dollar has enhanced the feeding margin structure on incoming replacement calves and this translated into stronger values on premium genetic packages. Finishing feedlot operators in Alberta and Ontario were fairly aggressive in Manitoba and Saskatchewan markets.
Klassen: Feeder market holds at higher levels
For the week ending November 2, Western Canadian yearling and calf markets were relatively unchanged from seven days earlier. Strong demand continues to support the feeder complex at historical high prices.
U.S. soybean crush sees record high for September
Healthy crush margins are enhancing domestic demand in Ontario and U.S
Corn and soybean prices are hovering near seasonal lows and are expected to percolate higher throughout November and December. Wheat prices have come off their highs in the short term but we’re expecting them to trend higher after the Southern Hemisphere harvest.
Cyber-Savvy Farmer
