Chicago | Reuters — Live cattle futures on the Chicago Mercantile Exchange slid on Tuesday, pressured by falling wholesale beef prices. “We had a really disappointing box beef value fall off to start the week yesterday, and a little follow through today,” said Matthew Wiegand, risk management consultant at FuturesOne. Most retailers have completed purchases […] Read more
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U.S. livestock: CME live cattle fall on wholesale beef weakness
Feeder cattle, February hogs also lower
Speculative short position grows in canola
Managed money still net long in soybeans
MarketsFarm — Speculators in the ICE Futures canola were busy liquidating long positions and adding to the short side of the market during the last week of November. That’s caused the net short position to grow to its largest level in two months, according to the latest Commitments of Traders (CoT) report compiled by the […] Read more
U.S. grains: Wheat slides to 13-month low
Soybeans slip despite demand hopes
Chicago | Reuters — Chicago wheat dropped on Monday, pressured by higher global supplies despite stronger-than-expected weekly U.S. exports, analysts said. Corn eased, pressured by lower wheat, though dry conditions in South America added support. Soybeans ended lower, underpinned by export demand and strong meal trade, though wheat weighed on the oilseed as well, traders […] Read more
U.S. livestock: CME feeder cattle firm as corn inputs slide
Live cattle climb higher in deferred months; February hogs also up
Chicago | Reuters — Feeder cattle futures on the Chicago Mercantile Exchange firmed for the fifth consecutive session, as corn, a significant input for producers, continues to fall, traders said. “The feeders have sort of been hobbled for a long time because of the elevated feed price,” said Dennis Smith, livestock analyst and broker at […] Read more
Prairie cash wheat: Bids drop with U.S. futures
Canadian dollar also down on week
MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Thursday, as U.S. wheat futures posted losses — although softness in the Canadian dollar did provide some underlying support. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $3.50-$6.40 per tonne across the Prairies, according […] Read more
U.S. grains: Wheat plunges to three-month low on export competition
Corn also down on weak demand, soybeans rise after selloff
Winnipeg | Reuters — Chicago wheat extended losses on Friday to a fresh three-month low as modest weekly U.S. exports kept traders’ focus on competition from cheaper Black Sea supplies. Corn also fell, while soybeans rebounded, consolidating after a selloff in the previous session over disappointing U.S. biofuels levels. The most-active wheat contract on the […] Read more
U.S. livestock: CME feeder, live cattle firm as trade eyes supplies
February lean hogs close higher
Chicago | Reuters — Feeder cattle futures on the Chicago Mercantile Exchange firmed on Friday, supported by lower feed grain costs and resilient live cattle futures, traders said. “The market has held together well, so there’s optimism there. Then you’ve got the grain market down double digits today, and down the day before,” said Altin […] Read more
U.S. grains: Soy snaps win streak on disappointing biofuel mandates
Wheat falls on export sale data; soy weakness weighs on corn
Winnipeg | Reuters — Chicago soybeans fell on Thursday, snapping five days of gains as soybean oil sold off sharply after the U.S. government proposed smaller-than-expected biofuels blending requirements. Wheat slid on disappointing export sales, while soybean weakness dragged corn lower. The most-active soybean contract on the Chicago Board of Trade (CBOT) settled down 39-3/4 […] Read more
U.S. livestock: CME lean hogs firm with supplies in focus
Feeder cattle up on supply expectations
Chicago | Reuters — Lean hog futures on the Chicago Mercantile Exchange firmed on Thursday, erasing the week’s earlier losses as smaller supplies of market-ready hogs offset seasonal pressure. “Fundamentally, we know we’re fairly tight on supplies. We’re not getting expansion,” said Alan Brugler, president of Brugler Marketing. The CME February lean hogs contract added […] Read more
ICE weekly outlook: Canola still rangebound but upside possible
Crush margins expected to stay high for now
MarketsFarm — The ICE Futures canola market traded within a certain range for the week ended Wednesday, but one trader believes that wide crush margins will take prices over the psychological resistance level. Since nearly hitting the $900 per tonne mark on Nov. 15, the January canola contract declined for eight straight sessions before going […] Read more
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