Hard red spring wheat bids in Western retreated from their recent highs during the week ended Oct. 17 as a downturn in the United States futures weighed on prices.
Russia is proposing BRICS countries set up a grain exchange that would give Moscow greater control over international prices for its agricultural exports, ahead of a group summit that will be attended by leaders of top global grain producers and buyers.
Despite a lack of activity in the feed grain markets, prices for feed barley and feed grain are trending lower, according to a grain broker from Edmonton.
Chicago Mercantile Exchange feeder cattle futures dropped on Wednesday, while live cattle rose in a turnaround from losses during the previous session, according to analysts.
Chicago Board of Trade corn futures rose on Wednesday after the U.S. Department of Agriculture said exporters reported the biggest daily export sale of the grain in more than a year.
The ICE Futures canola market backed away from nearby highs during the week ended Oct. 16, as losses in Chicago soybeans and soyoil weighed on values. With the canola harvest in its final stages across Western Canada, the market will likely settle in a sideways range while looking to outside influences for direction.
Chicago Mercantile Exchange live cattle futures dropped on Tuesday in a technical correction from a five-week rally and on concerns that high prices may cool beef demand, according to analysts.
U.S. corn and soybean futures fell for a fourth straight session on Tuesday and hit multi-week lows, guided by sharp declines in equities and crude oil and forecasts for timely rains in Brazil that have tempered worries about early-season planting delays.
An ongoing dispute between Canada and India involving the assassination of a Sikh man on Canadian soil has Canada's lentil market fearing that one of its largest trading partners may shut its doors to the pulse.