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Prairie hail claims pass 10,000 for year

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tagged alberta claims crop insurance damage hail harvest manitoba saskatchewan
MarketsFarm -- More than 10,000 claims for hail damage have been filed by Prairie farmers so far in 2019 with insurance companies belonging to the Canadian Crop Hail Association. Between July 27 and Aug. 6, hail on the Prairies saw farmers add 900 claims alone, according to a CCHA press release Friday. To date overall, Saskatchewan farmers submitted about 6,900 claims, with 2,000 from Alberta and 1,300 from Manitoba. Rick Omelchenko, CCHA president, said nearly half of the…
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USDA attache to Canada predicts larger wheat crop

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tagged acres durum FAS Foreign Agricultural Service Phil Hayes stocks tonnes USDA Wheat
MarketsFarm -- A new report from the Ottawa-based attache to the U.S. Department of Agriculture's Foreign Agricultural Service (FAS) has raised its estimate of total wheat production in Canada for 2019. The report Thursday from attache Phil Hayes increases FAS's estimate of wheat production in Canada for 2019 to 32.65 million tonnes, compared to last year's 31.77 million. Although the attache's estimate was lower than USDA's official estimate of 33.3 million tonnes, Hayes placed…
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Funds cover canola short positions

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tagged canola futures cbot CFTC commitment of traders Corn ICE Futures long positions short position Soybeans
MarketsFarm -- Fund traders covered some of their large net short position in canola during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in canola came in Tuesday at 66,293, a decrease of roughly 3,000 contracts from the previous week. Open interest in the canola market rose by 4,977 contracts, to 159,488 during the week. At the Chicago Board of…
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Cash wheat: Bids mixed, watching futures and currency

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tagged cash wheat cbot CPSR CWRS durum K.C. wheat MGEX USDA wheat bids wheat futures wheat prices
MarketsFarm -- Wheat bids in Western Canada were narrowly mixed during the week ended Thursday, with losses in U.S. futures countered by support from a softer Canadian dollar. The Canadian dollar was down by roughly a third of a cent relative to its U.S. counterpart, while the futures were all lower following bearish U.S. Department of Agriculture production estimates. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $1 to down by $1 per…
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U.S. grains: Corn, soy, wheat rise but post big weekly losses

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tagged cbot China closing markets Corn corn futures soybean futures Soybeans tariffs Trump USDA Wheat wheat futures
Chicago | Reuters -- U.S. corn, soybean and wheat futures rose on Friday on a technical rebound as traders evened up positions after the grains market posted sharp declines during the week. The heavy weekly losses -- corn posted its biggest weekly drop in percentage terms since June 2016 -- stemmed from a surprise boost to the corn harvest outlook from the U.S. Agriculture Department on Monday. "We took it pretty hard from this crop report on Monday and we had a rough week and I…
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U.S. livestock: CME hogs limit down on demand concerns

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tagged Beef Cattle Cattle cattle futures China closing markets CME feeder cattle hog futures hogs lean hogs live cattle Pork Swine swine fever Tyson
Chicago | Reuters -- CME lean hog futures fell sharply on Friday, with the most-active October contract notching a limit-down move as traders worried that seasonal growth in supplies will outstrip demand. Weakness in the cash market also spilled over into the futures, traders said. The demand concerns stemmed from uncertainty about potential purchases from China due to the ongoing trade fight with the United States. The world's top buyer of pork may look outside of the U.S. to…
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Ag-state senator says Trump EPA ‘screwed us’ with biofuel waivers

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tagged biofuel Corn EPA ethanol Grassley Iowa Renewable Fuel Standard RFS Trump waivers Wheeler
Washington | Reuters -- Iowa's Republican Senator Chuck Grassley said the Trump administration's Environmental Protection Agency has "screwed" the U.S. ethanol industry and farmers by granting waivers to 31 small petroleum refineries, effectively exempting them from an obligation to use more ethanol in their products. The powerful senator, who represents the largest ethanol-producing state in the country, told Iowa Public Television that low biofuel credit prices negated refiners'…
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Dairy farmers to get direct cash payment as trade compensation

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tagged Bubeau CETA compensation CPTPP dairy farmers direct payments market access quota Trudeau
Canadian dairy farmers will be getting direct cash compensation after the government gave up dairy market access to other countries in recent trade deals. The compensation follows promises by the Trudeau government -- and the Harper government before it -- that dairy farmers would be compensated in some form for the loss of market.

Why it matters: The program will put $1.75 billion into the hands of dairy farmers over the next eight…
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Winter wheat harvest varies by province

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tagged Ducks Unlimited GFO harvest manitoba ontario saskatchewan Saskatchewan Winter Cereals Development Commission statistics canada winter wheat yields
MarketsFarm -- Depending where a farmer is located, Canada's winter wheat crop has varied this year. Ontario has long been the country’s powerhouse for winter wheat. Statistics Canada projected the province’s farmers to seed just over one million acres this year, nearly 75 per cent of Canada’s total winter wheat acres. However, Marty Vermey, senior agronomist with Grain Farmers of Ontario, said the province’s farmers lost up to a third of their crop because of weather…
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U.S. CFTC says Kraft, Mondelez to pay $16M in wheat price manipulation case

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tagged CFTC Kraft manipulation Mondelez options wheat futures wheat prices
Reuters -- The U.S. Commodity Futures Trading Commission (CFTC) said on Thursday Kraft Heinz and Mondelez International will have to pay US$16 million in penalty regarding a wheat manipulation case that dates back to 2015. Kraft Heinz, which was Kraft Foods until 2015, and snack food firm Mondelez bought $90 million of December 2011 wheat futures, which gave the companies a dominant position in the market, even though they never intended to take possession of the grain, the CFTC…
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