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West’s soaked, parched tax deferral zones expanded

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tagged breeding stock designated areas drought excess moisture forage shortages rural municipalities tax deferral
More rural municipalities and counties that saw drought or excess moisture last year have been added to the federal list of areas where ranchers may now defer some of their 2014 taxable income. The federal government on Thursday rolled out its final list of designated areas for the 2014 tax year, adding to an already-long initial list released at the end of December. "Extreme" weather conditions…
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U.S. grains: Corn rebounds on short-covering, bullish ethanol data

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tagged cbot corn futures EIA ethanol soybean futures wheat futures
Chicago | Reuters -- U.S. corn futures on Thursday rebounded from a seven-month low after three days of declines in a short-covering bounce and following a government report showing higher ethanol output and lower stocks of the corn-based biofuel. Wheat futures were mixed as a weaker dollar and concerns about the outlook for crops in Russia kept a floor under the market, but sluggish U.S. export demand continued to restrict gains. Soybeans drifted lower on rising global supplies…
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Northern Prairies’ lows push lower

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tagged Canada weather
Lows on Wednesday in northern farming regions of Saskatchewan slipped near or below the freezing mark, hitting -2 C in the Nipawin and Tisdale area of northeastern Saskatchewan and 0 C around Melfort, Big River and Pierceland. Elsewhere, lows dropped to +2 C around Birch River in northwestern Manitoba and +6 C around Valleyview, Cold Lake and Sylvan Lake, Alta. Highs on Wednesday also dropped slightly, still hitting +25 C at WeatherFarm stations around Edmonton and +26 C around Kindersley,…
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Number of hungry people worldwide drops below 800M, U.N. says

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tagged FAO Millennium Development Goals United Nations world hunger
Rome | Thomson Reuters Foundation -- The number of people in the world still going to bed hungry 15 years after the U.N. placed eradicating hunger and extreme poverty at the top of its Millennium Development Goals has dropped to 795 million, according to a report released on Wednesday. The report by three U.N. agencies claims that number is a reduction of 167 million people over the last 10 years. "This is good news," Jose Graziano da Silva, director general of the Food and…
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Light rain on way for Prairie crops, but ‘soaker’ needed

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tagged canola emergence canola futures canola seeding moisture rain rainfall
Winnipeg | Reuters -- Rain looks to splash parched farms on Western Canada's Prairies over the next week as concerns mount that soil is too dry for canola to grow normally. Offsetting the concern somewhat is the region's brisk pace of planting, which may wrap up by the weekend. The southern Prairies will be lucky to receive 1/2 an inch to one inch of rain this week, said Bruce Burnett, weather and crop specialist at grain handler CWB. "We certainly do need it. Dryness is the…
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Dry Prairies await timely rains

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tagged crop development crop emergence crop stress dry conditions rainfall
CNS Canada -- Mounting dryness concerns in parts of Alberta and Saskatchewan are raising some concerns over crop development on the Prairies -- but timely rains are in the forecast for early June. "The entire southern Prairie region hasn't received normal rainfall for the last month to two months," said Trevor Hadwen, an agro-climate specialist with Agriculture and Agri-Food Canada's Drought Watch department in Regina. He described the dry conditions overall as a "one-in-10-year…
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ICE weekly outlook: Weather to make or break canola market

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tagged canola futures canola markets ICE Futures Canada
CNS Canada -- ICE Futures Canada's canola futures moved independently higher during the week ended Wednesday, ignoring weakness in the Chicago soybean market. The generally tight supply situation for canola, a weak Canadian dollar and worries about dry conditions damaging some crops in Western Canada underpinned canola. Dry conditions in parts of the western Prairies are starting to become more severe, and whether it rains or not will make or break the canola market. If rain…
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CBOT weekly outlook: Corn, soy under pressure amid abundant supplies

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tagged cbot corn futures soybean futures
CNS Canada -- Chicago Board of Trade corn and soybean markets drifted lower during the week ended Wednesday and are expected to remain under pressure in coming weeks. The softness in both markets is likely because of large domestic and global supplies for corn and soybeans, said Ken Ball of PI Financial in Winnipeg. "Buyers see unlimited supplies for the foreseeable future, and aren't interested in pushing the market (higher) at all," he added. The U.S. produced very large…
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U.S. grains: Wheat sinks to two-week low on winter crop rating

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tagged cbot corn futures soybean futures wheat futures
Chicago | Reuters -- U.S. wheat futures fell for the third straight session on Wednesday, hitting a two-week low on big global supplies and a government report that pegged U.S. winter wheat crop ratings above market expectations. Corn also slumped to a seven-month low on spillover pressure from sinking wheat and positive U.S. crop ratings, while soybeans firmed in a rebound from contract lows the previous day. "There's still concerns about the wheat quality problems in the…
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U.S. livestock: CME live cattle shrug off early weakness

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tagged cattle futures CME hog futures
Chicago | Reuters -- Chicago Mercantile Exchange live cattle closed higher on Wednesday after initial selling, helped by short-covering and futures' discounts to last week's cash prices, traders said. June closed 0.675 cent per pound higher at 152.475 cents, and August ended up 0.8 cent at 151.425 cents (all figures US$). Last week, most market-ready (cash) cattle in the U.S. Plains sold at $159-$161 per hundredweight (cwt), feedlot sources said. Some packers need cattle for…
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