Grain prices all headed lower this week as beneficial rains and slower bullish headlines pushed more profit-taking action in the markets. Canola traded sideways for the week but did drop down to $492 CAD / MT before closing at nearly $507 on the November contract. Soybeans acted similarly, only losing 0.1% whereas its acreage competitor,… Read More
Category: Markets
Grain markets sold off this past week as the USDA came out with a surprisingly bearish report of world agricultural supply and demand estimates. Instead of the roughly 166 bushel per acre US corn yield that market was expecting, the USDA came out with 169.5. That’s just a 1.2 bushel drop from the previous estimate… Read More
The condition of the United States corn and soybean crop drives much of the sentiment on agricultural commodities. The weather stress of 2017 has created much discussion among farmers and analysts that the U.S. crop will be lower than trend line yield. Apparently the USDA does not agree with farmers or market analysts. The USDA… Read More
When crops reach record high acreages on both sides of the border the market should respond negatively to higher supply levels. Increased supply has to be supported with increased demand and that has been definitely the story in soybeans. Even though the November soybean futures contract (can be seen below) is off earlier highs farmers… Read More
Grain markets this week saw a significant sell-off as better growing conditions are helping improve crop prospects. Soybeans had a terrible week, down 5.35%. Chicago wheat wasn’t that far behind, down 5.3%. Oats fell 2.5%. Corn and canola were both down 1.9%. This despite the Canadian Dollar also falling 1.8% from its high last week…. Read More
Farmers across Western Canada celebrated on Tuesday as it was the fifth anniversary of farmers gaining marketing freedom for wheat and barley, formerly known as ‘board grains’. On August 1, 2012 farmers were given control of marketing their own farm production. Wheat and barley no longer had to be sold through the Canadian Wheat Board’s… Read More
Starting August 1, 2017, Japan has triggered a safeguard to increase the tariff on its frozen beef imports from countries that it does not have a free trade agreement with. Increasing the tariff on frozen beef imports from 38.5% to 50% will impact Canada and the United States and not Australia, Chile and Mexico who… Read More
Grain prices this week pulled back on some benign weather and profit-taking by funds. ere able to gain a bit on not enough rains falling on key areas in North America. Chicago wheat was the biggest loser, down more than 3.5% for the week. Oats fell 2.3% while corn dropped 1.2% since last Friday. Soybeans… Read More
The markets continued their strong bearish tone as grains and oilseeds pushed lower across the board for the second day in a row on Tuesday. On Monday, one excuse was that Friday’s bearish cattle on feed report sparked a push to sell. Expected rains in the U.S. midwest later this week have certainly driven some… Read More
If you were looking for the the July 1 USDA cattle on feed report to shock the market to the higher side, it did not deliver. Overall, cattle on feed in the United States were up 4 percent compared to a year ago, with heifers and heifer calves on feed up 11 percent compared to… Read More