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U.S. grains: Corn, wheat retreat on profit-taking

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tagged cbot closing markets corn futures soybean futures USDA wheat futures
Chicago | Reuters -- U.S. wheat and corn futures declined on Thursday, retreating from early strength on profit-taking after each market set multi-month highs, analysts said. Soybeans also closed lower, reversing from early advances, after the spot March contract fell short of last week's high. CBOT March corn settled down 5-1/4 cents at $3.73-1/2 per bushel after reaching $3.80, the contract's highest since mid-July (all figures US$). Funds have been pouring into the corn…
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U.S. livestock: Cash price unease pressures CME live cattle

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tagged cash cattle cattle futures closing markets CME Fed Cattle Exchange feeder cattle hog futures lean hogs live cattle
Chicago | Reuters -- Chicago Mercantile Exchange live cattle futures on Thursday slipped for a second straight day, amid investor caution while waiting for remaining cash cattle to change hands by Friday, said traders. Short-covering and futures' discounts to early-week cash returns provided downside market support, they said. February live cattle closed down 0.25 cent/lb. to 116.525 cents, and April 0.1 cent lower at 113.25 cents (all figures US$). The bulk of animals sold on…
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Canary seed market watches peso ahead of planting

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tagged canaryseed canaryseed prices durum Mexico peso
CNS Canada -- It's not a stellar time for canary seed prices but the situation could improve, depending on acreage this spring and what the Mexico peso does in 2017. "Prices are not showing a whole lot of strength," said Kevin Hursh, executive director of the Canaryseed Development Commission of Saskatchewan. "We're probably in that 20- to 22-cent a pound range depending on whose market you look at in any given day." Back in the fall, prices temporarily flirted with the 25-cent…
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Large number of vessels waiting to load at West Coast

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tagged grain monitoring program Prince Rupert Quorum Corp. Vancouver vessels West Coast
CNS Canada -- A large backlog of ships is waiting to load grain at Canada's West Coast due to a combination of poor weather, early arrivals and railroad logistical issues. The Port of Vancouver lineup included 26 vessels as of Tuesday, according to the latest weekly report from the federal Grain Monitoring Program administered by the Quorum Corporation. That compares with the current one-year average of 18 vessels. "Even 18 is still high," said Mark Hemmes, president of Quorum…
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Japan feedmakers to tap corn stocks after U.S. supply disruption

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tagged corn feed grains Japan northwestern U.S. Pacific Northwest stockpiles storms
Tokyo | Reuters -- Japan's feedmakers are expected to tap the country's emergency stockpiles of corn as inventories decline to critically low levels due to a delay in shipments from the U.S. Japan's Ministry of Agriculture, Forestry and Fisheries plans to approve the measure after heavy storms in the northwestern U.S. caused lengthy delays to grain loadings in Japan's main corn supplier. Japan, the world's top corn importer, is projected by the U.S. Department of Agriculture to…
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ICE weekly outlook: Canola runs into headwind

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tagged canola acres canola contracts canola futures crush margins ICE Futures Canada
CNS Canada -- ICE Futures Canada canola contracts are running into major upside resistance from a chart standpoint, with a turn lower more likely than additional gains in the near term. "The demand component for canola remains quite strong, although domestic crush margins have diminished," said Mike Jubinville of ProFarmer Canada. Soyoil futures at the Chicago Board of Trade have already "broken (their) uptrend," he said. Large South American crops, together with expectations…
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CBOT weekly outlook: Argentine flood fears underpin corn, soy

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tagged argentina Brazil cbot corn futures South America soybean futures USDA
CNS Canada -- Weather concerns in South America continue to dominate the attention of many traders, despite the fact growing conditions for corn and soybeans have generally been favourable in Brazil over the past week. "It's been good in Brazil but Argentina has had issues with flooding," said Ted Seifried of Zaner Group in Chicago. "There are concerns that heavier rains might bring that back for Argentina." He explains investors are concerned there could be a repeat of last year…
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U.S. livestock: CME live cattle, hogs slump on profit-taking

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tagged cattle futures closing markets CME Fed Cattle Exchange feeder cattle hog futures lean hogs live cattle
Chicago | Reuters -- Chicago Mercantile Exchange live cattle futures on Wednesday bowed to profit-taking, prompted by softer wholesale beef values and uncertainty about cash prices this week, traders said. Technical selling contributed to market losses, they noted. February live cattle closed 0.6 cent/lb. lower at 116.775 cents, and below the 10-day moving average of 116.86 cents (all figures US$). April ended 0.65 cent lower at 113.35 cents. The choice wholesale beef price,…
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U.S. grains: Soy futures rally, corn hits 7-1/2 month peak

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tagged cbot closing markets corn futures South America soy futures soybean futures wheat futures
Chicago | Reuters -- Chicago Board of Trade soybean, corn and wheat futures firmed on Wednesday, recovering from weakness in the overnight trading session on a round of technical buying, traders said. Corn futures staked out a fresh top, peaking at its highest since June 30 while wheat was trending near the 7-1/2 month high it hit earlier this week. Soybeans were bouncing back from two days of declines that wiped out 1.3 per cent of the most-active contract's value, attracting…
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Italy’s pasta labeling plan raises Canadian concerns

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tagged CETA country-of-origin durum European Union Italy labeling pasta
Winnipeg/Rome | Reuters -- Canada has raised concerns with Rome about Italy's plan to require country-of-origin labels on pasta sold there, Canada's agriculture minister said on Wednesday about a move that is alarming Canadian wheat exporters just as a free trade deal gained European approval. Rome sent a draft decree to the European Commission in December, seeking approval for labels on pasta sold in Italy that would identify where the durum wheat was grown and milled into semolina…
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