It wasn't that many years ago that corn and soybean growers were riding the wave of $7 corn, high land rent, and applying all the groceries to every acre. In 2016, that wave of optimism has disappeared as suggested in the DTN / Progressive Farmer Ag Producer Confidence Index (ACI) results. The recent survey produced... Read More
Category: Markets
There's a big durum crop coming off in Western Canada, but wet conditions have resulted in high disease levels in much of it. The Statistics Canada report released Tuesday pegged total Canadian durum production at 7.3 million tonnes, up from 5.4 million in 2015 and 5.2 million in 2014. Meanwhile, last week the Ministry of... Read More
Statistics Canada published its second annual set of crop production estimates based on a model that uses satellite imagery on Tuesday. The model-based report, which incorporates satellite info, weather conditions and data from previous farm surveys, replaced the September Farm Survey starting last year. The algorithm says the canola crop will be almost 8 percent... Read More
Soggy conditions have slowed harvest progress in much of Western Canada, as untimely showers have hampered crop quality and left combines standing still (or stuck). And the days when harvest equipment has been rolling have not been easy in many areas. It's a similar story in the futures markets, as bearish supplies are making it... Read More
We’re halfway through the month of September and almost at the end of 3rd quarter of the calendar year, a point when we start to usually see lows priced into the market and the end of harvest in sight. A mostly bearish September W.A.S.D.E. report at the beginning of the week on Monday, the 12th,... Read More
With every bounce off of a new low in the cattle market, there's hope prices have finally bottomed out. October live cattle futures in the U.S. have recovered by $7-8 in the last week, after dropping to around the $100 mark in the first week of September. "Hopefully we can look back, and I know... Read More
Tight profit margins are leading many farms to hang on to equipment longer before trading it in. The major manufacturers have also slowed down production significantly, coinciding with the drop in demand for new iron. And all of this means there's less late model machinery hitting the market. "It's getting really hard to find a... Read More
Grains pushed through the first full week of September with a mix of bearish and bullish headlines, but mostly of the latter as a weaker U.S. Dollar, wet weather, and decent export numbers being supportive. Corn was the shining star for the week, up 3.5% in Chicago, mainly supported by ethanol being up more than... Read More
Grains continued to be pressured by the Harvest 2016 season and continuous benign weather in the U.S. that are keeping crop conditions and yield projections at elevated levels. Estimates on the U.S. corn crop ranges between 170 and 175 bu/ac, suggesting around a 15-billion-bushel crop, while soybean yield estimates are sitting between 48.5 and 50.5... Read More
A frustrating summer has come to a head over the last few weeks, as already-weak cattle prices are on a streak lower. Cash prices in the U.S. have fallen to $110 per hundred weight, notes Anne Wasko of Gateway Livestock. "That's the lowest they've been in five years, and that's five bucks off of last... Read More