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BHP delaying decision on Saskatchewan potash project

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Melbourne | Reuters -- BHP Group expects to present its board with a decision on whether to proceed with its Jansen potash project in Saskatchewan in a few months' time -- rather than mid-year -- after choosing between two port options, an executive said on Thursday. The world's biggest miner has estimated the project at Jansen, about 45 km southeast of Humboldt, would cost up to $5.7 billion in its first phase (all figures US$). The project offers diversification into agriculture…
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ICE weekly outlook: Weather, soy complex weaken canola

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tagged Canola drought futures ICE ICE canola ICE Futures North Dakota Oilseeds prairies prices soybean soymeal soyoil USDA
MarketsFarm -- Wet weather on the Prairies and U.S. northern Plains has brought downward pressure on ICE Futures canola prices, taking the market off the contract highs hit in early June. Losses in palm oil and soyoil were also bearish. While precipitation, or the potential of it falling over canola-growing areas in Western Canada and the U.S., has caused canola prices to fall, the sentiment among market participants hasn't exactly tracked with current crop conditions. "The rain…
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CBOT weekly outlook: Weather market expected for rest of month

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tagged acres Biden cbot Corn drought futures Renewable Fuel soybean stocks USDA Wheat
MarketsFarm -- The weather is just one of the factors guiding futures values at the Chicago Board of Trade (CBOT), according to Terry Reilly, grains analyst for Futures International in Chicago. As prices have fluctuated with hot and dry weather interrupted by rain, Reilly noted there’s more to the ebbs and flows than the latest forecast. To the analyst, the primary reason for CBOT soyoil tumbling is that it’s oversold. “The beanoil has been very overpriced. It was due…
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U.S. livestock: Hogs limit down on new China stats

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tagged beef bellies cash cattle Cattle China closing markets CME cutout feeder cattle futures hog herd hogs lean hog live cattle Pork Swine
Chicago | Reuters -- Chicago Mercantile Exchange (CME) lean hog futures fell their daily three-U.S.-cent limit on Wednesday, pressured by falling U.S. wholesale prices for pork products and news of increasing hog numbers in China, traders said. China's pig herd rose 23.5 per cent in May from a year earlier, state media said on Wednesday, citing the ministry of agriculture and rural affairs. CME hog futures tumbled as the figures raised questions about export demand from China,…
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U.S. grains: Soybeans down with vegetable oil prices

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tagged biofuel cbot closing markets Corn futures MGEX Oilseeds prices soybean soymeal soyoil vegetable oil Wheat
Chicago | Reuters -- U.S. soybean futures fell on Wednesday to their lowest level in nearly two months, pressured by a retreat in global vegetable oil prices from multi-year highs, analysts said. Corn and wheat futures ended mixed, with the nearby July corn and wheat contracts closing higher, while back months declined. Chicago Board of Trade July soybeans settled down 17-1/4 cents at $14.48-1/2 per bushel, after dipping to $14.42-1/2, the contract's lowest since April 20 (all…
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U.S. livestock: Live cattle hit two-month high

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tagged beef Cattle closing markets CME feed feeder cattle futures hogs lean hog live cattle Pork Swine
Chicago | Reuters -- Chicago Mercantile Exchange (CME) live cattle futures rose more than two per cent on Tuesday, setting a two-month high as deferred prices for corn, the main feed grain for cattle, continued to fall, traders said. CME benchmark August live cattle futures settled up 2.625 cents at 123.9 cents/lb. after reaching 124.125 cents, the contract's highest since notching a life-of-contract top on April 8 (all figures US$). Feeder cattle futures hit a three-week high.…
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U.S. ag secretary backs proposed meatpacking investigator

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tagged antitrust beef competition investigator JBS meat meat industry meatpacking Poultry USDA Vilsack
Reuters -- U.S. Agriculture Secretary Tom Vilsack on Tuesday threw his support behind a proposal to establish a special investigator to address concerns about anti-competitive practices in the meat and poultry industries. Republican U.S. Senators Mike Rounds of South Dakota and Charles Grassley of Iowa and Democratic Senator Jon Tester of Montana have proposed legislation to create an office for a special investigator within the U.S. Department of Agriculture. U.S. lawmakers and…
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U.S. grains: Soy eases on improved weather view

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tagged cbot closing markets Corn crop ratings futures harvest planting seeding soybean USDA Wheat winter wheat
Chicago | Reuters -- U.S. soybean futures fell on Tuesday on an improved weather outlook for the Midwest crop belt, analysts said. The forecasts for cooler and wetter conditions later this month also pressured new-crop corn futures on the Chicago Board of Trade (CBOT), although front-month July gained against back months on spreads, reflecting tight supplies of old-crop U.S. corn. CBOT July soybeans settled down 6-1/2 cents at $14.65-3/4 per bushel, with new-crop November…
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Pulse weekly outlook: Timely rains benefitting Saskatchewan crops

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tagged acres chickpea drought dry beans faba beans Lentils Peas Pulses rain saskatchewan stress
MarketsFarm -- As with crops across the Prairies, pulses in Saskatchewan got a much timely shot in the arm with recent rainfall, according to Carl Potts, executive director of Saskatchewan Pulse Growers. "I think pulse crops have benefitted from the rains we've had over the last two or three weeks here in the province," he said. Potts noted Saskatchewan, as with the rest of the Prairies, went through a dry fall and winter that continued through most of the spring seeding season.…
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Klassen: Feeder market heating up

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tagged alberta calves fed cattle feeder cattle futures heifers Jerry Klassen manitoba prices sales saskatchewan steers yearlings
Compared to last week, western Canadian yearling steers traded $3-$4 higher while yearling heifers were steady to $2 higher. Mid-weight calves or young yearlings from 600 to 800 lbs. were $3-$5 higher on average. Calves under 600 lbs. were relatively unchanged. Favourable rains across the Prairies have enhanced crop prospects for barley and wheat. April live cattle futures reached over $136 last week, which also reinforced buying interest. Competition was extremely fierce for yearlings.…
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