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U.S. grains: Soybeans, wheat, corn bounce after steep losses

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tagged cbot closing markets corn futures soybean futures U.S. dollar wheat futures

Winnipeg/Reuters – Chicago soybean, wheat and corn futures bounced on Tuesday, rising on bargain-buying and short-covering after setting recent lows.

Nearby soybeans fell for three straight sessions through Monday, shedding nearly 6 percent as weather improved for crop development across the U.S. Midwest. "We've just plain hit (soybeans) hard for the last week or so and we're just seeing a little buying coming back in," said Karl Setzer, market analyst at…
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Above-average wheat yields in southern North Dakota

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tagged North Dakota wheat yields
Hebron, ND (Reuters) — Spring wheat prospects are above average in southern North Dakota, scouts on an annual crop tour said on Tuesday. Crop scouts on the Wheat Quality Council's tour travelling one route in south-central and southwestern North Dakota made four stops and projected an average yield of 45.6 bushels per acre (bpa), above the tour's year-ago average for the same route near 39 bpa. "It's a good, solid crop, probably with a bit more lodging than normal," said Jim Peterson,…
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U.S. livestock: Beef price turnaround rallies CME live cattle futures

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tagged cash cattle cattle futures closing markets CME hog futures
Chicago/Reuters – Chicago Mercantile Exchange live cattle contracts finished in positive territory on Tuesday for the first time in five sessions, fuelled by active short-covering following the recent wholesale beef price rise, traders and analysts said. August closed 2.025 cents per lb higher at 145.050 cents, and October 2.825 cents at 146.800 cents. The morning's wholesale choice beef price, or cutout, was at $233.20 per cwt, 93 cents higher than on Monday. Select cuts were…
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Three-hour tornado & Regina’s wettest day ever

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tagged rain tornado weather
Reuters — A tornado spun for several hours through southwestern Manitoba late Monday in a fierce Canadian Prairie storm that caused flash flooding and shredded part of a highway. No injuries or major damage was reported, according to a statement by Environment Canada, federal weather forecaster. "What was just shocking was the duration on the ground, for 2-1/2 to three hours," said David Phillips, senior climatologist at Environment Canada. Photos on social media showed torn-up…
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U.S. livestock: CME live cattle finish flat-lower after choppy session

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tagged cash cattle cattle futures closing markets CME hog futures
Chicago/Reuters – Chicago Mercantile Exchange live cattle contracts settled flat to moderately lower following an up-and-down day on Monday, after traders sold deferred contracts and bought August because of its discount to last week's cash prices, traders and analysts said. Short-covering and the morning's wholesale beef price uptick at times helped underpin the nearby trading months, they said. Uneasiness about this week's cash prices and last Friday's slightly bearish…
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Syngenta says Monsanto’s $2 bln break-up fee comes with caveat

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tagged merger monsanto syngenta
Frankfurt/Reuters – Syngenta has said a $2 billion break-up fee that unwanted U.S. suitor Monsanto has pledged to pay if its proposed $45 billion merger failed would only apply in limited cases, leaving its shareholders exposed to the bulk of regulatory risks. Swiss Syngenta, the world's largest maker of farming pesticides, told Reuters that based on its legal interpretation of Monsanto's proposal, the payment would only be triggered if so-called horizontal antitrust concerns were…
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Brazil looking to open Canadian, Saudi Arabian fresh beef markets

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tagged beef Brazil mad cow Saudi Arabia
Brasilia/Reuters – Brazil is working on a deal to open the Canadian market for fresh beef in the second half of 2015 and is in the final phase of opening the Saudi Arabian market, the agriculture ministry's secretary of international relations said on Monday. Brazil also expects a final deal to export beef to Japan by December, secretary Tatiana Palermo said. Brazil has recently clinched agreements to export fresh beef to China and the United States, overcoming mad cow concerns in…
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U.S. grains: Improving weather sparks sell-off in corn, soybeans, wheat

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tagged cbot closing markets corn futures soybean futures U.S. dollar wheat futures

Chicago/Reuters – Chicago Board of Trade corn and soybean futures plunged to their lowest in more than a month on Monday as improving weather for crop development across the U.S. Midwest sparked a round of long liquidation by speculators, traders said.

Wheat futures also fell, weighed down by the declines in corn and pressure from the ongoing harvest.

The grains and…
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Klassen: Various views on the feeder cattle market

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tagged Canadian dollar cattle prices economy feeder cattle
If you talked to three Western Canadian cattle buyers this week, you probably would receive four different views on the market. Certain auction barns were reflecting an average week-over-week decline of $3 to $5 but feature strings of cattle were back up to historical high prices. Early sales in the season are like tryouts at a hockey camp, every player has a feature shift during the scrimmage but coaches evaluate on the average overall game. Feather-light fancier calves averaging 400 pounds…
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Southern Saskatchewan gets drenched

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tagged Canada temperature weather
Areas in the Regina region were deluged with upwards of 50 mm of rain during the July 27 weather period. Regions near North Battleford and Saskatoon received a more moderate 10-15 mm of precipitation, while areas near Swift Current and Moose Jaw saw between 30 and 35 mm of rain. One area west of Brandon, Man. reported over 70 mm of rain. Areas south of Medicine Hat, Alta. received a more moderate 10-15 mm of precipitation. A [Read more]
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