Western Canadian feeder cattle markets were quoted $5 lower to $5 higher on average in the week ending June 15. However, quality packages of yearlings traded $5 to as much as $10 above week-ago levels
Chicago Board of Trade wheat and soybean futures fell sharply on Monday, with wheat at a near two-month low as fund selling pressure rolled into a short holiday trading week, traders said.
Chicago wheat futures Wv1 fell for an eighth day on Friday for their lowest close in a month after Turkey said it would halt wheat imports in a blow to the global demand outlook.
Chicago Board of Trade corn Cv1 and soybean Sv1 futures rose on Thursday as news of tighter rules on industry tax credits in Brazil made traders and producers hopeful that it could boost U.S. export business, traders said.
Wheat prices led the way as the July Chicago contract fell 46 cents per bushel at US$4.46. The July Kansas City hard red wheat contract dropped 43.5 cents at US$6.7625/bu., while the July Minneapolis spring wheat contract lost 39.5 cents at US$7.1250/bu.
Chicago benchmark wheat Wv1 futures fell on Wednesday for the sixth day in a row, as progress in the U.S. winter harvest weighed on prices and concerns eased over the Russian crop, traders said.
Chicago Board of Trade corn and soy dipped in choppy trade on Tuesday as traders weighed U.S. planting progress and strong corn ratings with adverse weather in importer Mexico and downgrades to soybean harvest forecasts in major exporter Brazil.
For the week ending June 1, Western Canadian feeder cattle markets were relatively unchanged compared to the previous week. It’s that time of year when volumes are limited and the market can be quite variable from region to region.
Chicago Board of Trade corn and soybean futures fell on Monday on shaky demand, technical trading and expectations of strong seeding progress and crop condition for corn later in the day, traders said.
Forecasts for a smaller Russian wheat harvest due to persistent drought and frost pushed prices to a 10-month high of $7.20 a bushel this week. But by Friday, traders were less concerned about how much relief the well-timed rains might give the country's crop, analysts said.