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U.S. grains: Wheat, corn firm on short covering

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tagged cbot closing markets condition ratings corn futures soybean futures wheat futures
Chicago | Reuters -- Chicago wheat futures closed higher on Wednesday on light short covering, one day after the spot contract fell about one per cent on better-than-expected U.S. wheat condition ratings. Corn futures firmed while soybeans ended flat after a choppy session. Chicago Board of Trade July wheat settled up three cents at $4.32-1/2 per bushel, halting a two-day slide (all figures US$). CBOT July corn ended up 1-3/4 cents at $3.71-1/4 a bushel and July soybeans closed…
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U.S. livestock: Live cattle retreat following initial cash prices

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tagged cash prices cattle futures closing markets CME Fed Cattle Exchange feeder cattle hog futures lean hogs live cattle Memorial Day
Chicago | Reuters -- Chicago Mercantile Exchange live cattle contracts slumped on Wednesday, pulled down by technical selling and lower preliminary cash prices, said traders. June closed 0.95 cent/lb. lower at 122.125 cents (all figures US$). August closed 1.4 cents lower at 119.925 cents, and below the 10-day moving average of 120.13 cents. Wednesday morning's Fed Cattle Exchange sale yielded an average top price of $132.54/cwt, down for last week's $135.16 average…
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CBOT weekly outlook: Corn, soy rangebound

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tagged Brazil Brazilian real cbot corn futures corn stocks South America soybean futures soybean stocks soybeans Temer
CNS Canada -- Corn and soybean futures at the Chicago Board of Trade are expected to hold near-term ranges, as traders decide where to lay their focus amid a mix of factors. "Weather will dominate; that's no surprise to anybody," said Sean Lusk of Walsh Trading. That influence is likely to have a supportive effect on corn and soybean markets. "There's a lot of noise out there about a cooler, wetter June. Certainly, we're getting rain in parts of the country where it needs to…
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ICE weekly outlook: Weather issues, tight stocks lift canola

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tagged canola futures canola markets canola prices commercial stocks ICE Futures Canada oilseeds
CNS Canada -- The ICE Futures Canada canola market lost ground during the week ended Wednesday, pushed down by losses in the U.S. soy complex. A corruption scandal in Brazil sparked a steep selloff in soybeans during last Thursday's session, which affected oilseeds around the world, including canola. Canola's dominant July contract lost $4 during the holiday-shortened week. Canadian markets were closed Monday for Victoria Day. Since then, however, canola has shown some…
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Lower North American durum acres keep attention on yields

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tagged Algeria durum acres durum quality durum wheat Morocco North Africa North Dakota statistics canada U.S. durum
CNS Canada -- North America's smaller durum acreage base in 2017 could give prices a boost later in the growing season, depending on how yields shape up for the new crop, according to a U.S. analyst. Disease issues in 2016 and better projected returns for other crops in 2017 are expected to lead to a 17 per cent reduction in both U.S. and Canadian durum acres, according to reports from Statistics Canada and the U.S. Department of Agriculture. Canadian farmers intend to plant 5.1…
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Glencore looking to expand agriculture business, CEO says

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tagged acquisitions bcIMC bunge CPPIB Glencore Glencore Agriculture Viterra
Cham, Switzerland | Reuters -- Miner and trader Glencore is looking to expand its agriculture business via its partnership with two Canadian funds, the company's CEO said on Wednesday, but has no plans to move into any commodities it does not already trade. CEO Ivan Glasenberg was speaking a day after U.S. grains trader Bunge said it was not in talks with Glencore, while Glencore said it had…
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Deadline extended for comment on cash ticket deferral

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tagged cash purchase cash ticket consultation deferred cash purchase extended income tax Morneau
Public consultations on the income tax treatment of deferred grain cash tickets, with an eye toward "potential elimination" of farmers' option to defer grain income, have been extended by two months. The federal government on Tuesday said the consultation, first announced in Finance Minister Bill Morneau's March budget and due to end Wednesday, will instead run through to Monday, July 24. When listed grains…
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U.S. livestock: Hogs gain, cattle ease on spread unwinding

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tagged cattle futures cattle on feed closing markets CME feeder cattle hog futures lean hogs live cattle Memorial Day USDA
Chicago | Reuters -- U.S. lean hog futures rose to a three-month high on Tuesday while live cattle declined as some investors unwound hog-cattle spreads, traders and analysts said. Traders locked in profits on long cattle-short hog spreads, with Chicago Mercantile Exchange live cattle declining for the first time in four sessions and easing from a two-week peak. Investors also were evening up positions ahead of the U.S. Department of Agriculture monthly Cattle on Feed report due…
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Ontario’s dairy group names new GM

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tagged dairy Dairy Farmers of Ontario DFO Graham Lloyd milk ingredients ontario Peter Gould supply management
Dairy Farmers of Ontario (DFO) has found its new general manager within the organization. Graham Lloyd, the organization's general counsel, secretary to the board and director of communications, is the new general manager, replacing Peter Gould, the organization's long-time manager. Gould, trained as an economist, has been with DFO since 1981 and has been the general manager since 2005. He is due to retire July 31 at which time Lloyd will take over as general manager. Lloyd has been…
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Soggy forecast worries Prairie farmers in race to seed crops

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tagged alberta canola forecast heavy rain planting prairies saskatchewan seeding
Winnipeg | Reuters -- Heavy rain forecast for the soggiest parts of the Prairies this week is likely to further delay seeding in the world's biggest canola-exporting country, meteorologists say. The rain, forecast to hit Alberta and Saskatchewan on Wednesday and Thursday respectively, would be the latest blow to farmers who could not harvest all of their canola and wheat last autumn due to wet conditions that stretched into spring. "There's a lot of people who have barely started…
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