Chicago | Reuters -- U.S. grain futures rose on Thursday on strong demand for corn and worries that harvests may be smaller than expected due to unfavourable global weather.
Soybean futures shook off early losses to end higher despite concerns about the ongoing trade battle with China, the world's top buyer of the oilseed. Last year, soybeans were the biggest U.S. agricultural export to China, worth more than $12 billion (all figures US$). However, Chinese buyers have been loading…
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U.S. livestock: CME cattle futures mixed in pre-report positioning
tagged cattle futures cattle on feed closing markets CME feeder cattle hog futures hogs lean hog live cattle USDA
Chicago | Reuters -- U.S. live cattle futures were mixed on Thursday, with the nearby contract easing while deferred months firmed slightly on positioning ahead of two big U.S. Department of Agriculture reports due Friday, traders said.
Some investors were unwinding bull spreads placed during the cattle market's rally to its highest in more than two weeks on Wednesday.
Firmer wholesale beef prices underpinned the cattle futures market.
Cash cattle sold for $112/cwt at…
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France to the rescue as drought hits EU barley crop
tagged barley Britain EU feed barley france germany malting Poland
Hamburg | Reuters -- Drought has seriously damaged barley harvests in northern Europe, potentially tightening supplies of animal feed and malt for beer brewing, but a decent crop in France could save the day, experts said on Thursday.
"There are painful crop losses in Germany, Poland, Britain and Scandinavia," one German trader said. "The volume of animal feed barley will be cut and I think there could be an-EU shortage of about 500,000 tonnes of malting barley."
"But it looks…
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Michelin to buy ag track maker Camso
tagged Agco Camoplast Camso CNH Magog Michelin off-the-road OTR quebec Solideal tires tracks Versatile
The Michelin Man is set to take on much more field work with a US$1.45 billion deal for Quebec off-the-road track and tire manufacturer Camso.
The deal, pending regulatory approval, calls for France's Michelin to combine its off-the-road (OTR) business with Camso in a new division.
"By joining forces with Camso, Michelin will create the world’s No. 1 OTR market player, headquartered in Quebec," Michelin said July 12.
"As world leader, the new entity will represent more than double…
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Chinese demand boosting Canadian wheat, barley exports
tagged Bangladesh barley Canada canadian grain commission China Colombia import Japan tariffs wheat wheat exports
CNS Canada -- China is making major moves to import more Canadian wheat and barley this year.
Data released by the Canadian Grain Commission show China more than tripled its wheat imports, taking in 979,100 tonnes as of May, up from 295,300 tonnes in the same period of 2016-17 and an increase of 231.6 per cent.
Cam Dahl, president of Cereals Canada, said it’s probably not a coincidence that the information from the U.S. is that China has not been buying wheat from there since…
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ICE weekly outlook: Dry weather keeping canola from more downside
tagged Canadian dollar canola futures canola yields ICE Futures Canada November canola
CNS Canada -- A lack of rain in Western Canada may be the only thing keeping canola futures prices from dropping much further than they have already.
The dominant November contract was above $525 a tonne in late June, but has since fallen to the $490 mark as of Wednesday.
Global trade disruptions and a massive North American oilseed crop are weighing on futures prices but the need to keep a weather premium in the market has kept canola in the game, at least for now.
"There are…
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CBOT weekly outlook: Soy and corn recover, but too early to call a bottom
tagged cbot China corn futures customers Midwest soybean futures tariffs
CNS Canada -- Soybean and corn futures at the Chicago Board of Trade recovered off of contract lows over the past week, but it's still too early to say either commodity has found a bottom.
"I'm looking for baby steps to confirm the bottom, and I haven't seen anything of substance yet," said Preston Zacharias, of CHS Hedging's Russel Consulting Group.
For corn, he said the December contract had a key reversal day on July 12, setting new lows and then ending higher.
The session…
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U.S. grains: Markets set one-week highs on export hopes, weather woes
tagged Brazil cbot China closing markets corn futures soybean futures soybeans tariffs wheat futures
Chicago | Reuters -- U.S. grain and soybean futures touched their highest prices in about a week on Wednesday, as agricultural markets stabilized following recent drops to contract lows.
Hopes for increased U.S. commodity export demand helped support soy prices after the market fell to a 10-year low on Monday amid widespread concerns about the U.S.-China trade dispute, traders said.
China's buyers have loaded up on soybeans from Brazil, instead of the U.S., because of a 25 per…
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U.S. livestock: CME cattle rise but hog futures weaken
tagged cattle futures cattle inventory cattle on feed closing markets CME feeder cattle hog futures lean hog live cattle
Chicago | Reuters -- U.S. lean hog futures fell on Wednesday for the third day in a row, hitting new contract lows on worries that mounting trade tensions with key overseas buyers will cause supplies to rise, traders said.
"Tariff concerns remain and there are fears that we are going to back pork up into the domestic market," said Don Roose, president of Iowa-based brokerage U.S. Commodities.
Live cattle futures closed firmed on a round of short-covering. The front-month contract…
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ProFarmer Canada joins Glacier FarmMedia
tagged CNS Canada Commodity News Service GFM Glacier FarmMedia MarketsFarm Mike Jubinville ProFarmer Canada
Glacier FarmMedia, Canada's largest farm publisher and the operator of this website, has just boosted its long position in grain and oilseed market analysis.
The Winnipeg company announced Tuesday it has acquired ProFarmer Canada, the marketing information service owned and operated by Mike Jubinville, whose analyses of Prairie crop commodity markets are well known to readers of this site.
Jubinville, Glacier said, "will continue to serve the farmers who currently rely on him for market…
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