Category: Markets

Grain backlog growing as railways fall behind

Canada’s two major railways supplied less than half of the hopper cars ordered by grain shippers last week, according to data from the Ag Transport Coalition. The farm group and grain shipper coalition’s weekly report says Canadian National Railway (CN) only supplied 34 percent of cars that were ordered in week 28 of the crop… Read more »

What’s real, what’s rumoured — This week in the grain markets

Grain markets were mostly higher this week as weather premiums continues to whip up some bullish activity. Wheat prices led the grain complex lower Friday as traders prepared for the upcoming holiday weekend. The day had started with small gains due to news of harvest delays down in the Brazilian fields. But profit-taking appeared to… Read more »

Beef Market Update: Tight supply, strong basis inspire northward migration of feeder cattle

Though you may not be able to tell from the last week of quiet trading, it’s been a busy month for the cattle markets. On January 31, the United States Department of Agriculture released its cattle inventory report for January 1, showing a one percent increase in all cattle and calves in the U.S. compared to… Read more »

From Super Bowl to weather forecasts — This week in the grain markets

Grain prices this week were relatively quiet as the complex digested another World Agricultural Supply and Demand Estimates (WASDE) report from the USDA that didn’t give much fodder to go off. According to the report, total South American soybean production is basically staying the same; U.S. corn exports were raised; and American soybean stocks ballooned… Read more »

High supply, mixed export numbers: an analysis of the latest WASDE report

Today’s updated World Agricultural Supply and Demand Estimates (WASDE) report was by no means a market mover. But, it does pose some questions for the market to digest. Starting with the U.S. Supply and Demand, it was, for the most part, fully influenced by adjustments in export demand. 2017/18 U.S. corn ending stocks estimates were… Read more »

India adds new import surcharge and higher chickpea duty

India’s government has made it even more expensive to export products — including pulse crops — into the country. On Tuesday, India announced a 10 percent increase to its duty on chickpeas, raising the import tariff from 30 to 40 percent. The move comes days after the India’s finance minister introduced a new surcharge to… Read more »

Cattlefax predicts strong supply and demand in 2018 as concern over drought rises

One of the highlights of the National Cattlemen’s Beef Association (NCBA) meeting every year are the Cattlefax market outlook presentations. Cattlefax certainly drove home the facts surrounding trade and how important it is for all U.S. agriculture at the cattle industry convention in Phoenix last week. Several Canadian attendees told us U.S. producers are optimistic… Read more »

Dropping profits — This week in the grain markets

Grain markets this week ended mostly in the red after a stronger performance at the beginning of the week. Traders took profits on the heels of some double-digit moves on the futures boards for most grain and oilseeds on Tuesday. Some geopolitical risk helped fuel the rally, but a “risk on” attitude hit the market… Read more »

Oilseed processors dropping weekly crush report

It’s going to be harder to find current information on Canadian canola and soybean processor demand going forward. In the “COPA weekly report of member crushings” published on Friday, the Canadian Oilseed Processors Association says it is immediately discontinuing the report. The weekly update shared information on the total tonnes of canola and soybeans crushed by COPA… Read more »

Canadian GDP shows better growth; interest rates may edge higher

Wednesday was a big day for economic news in both Canada and also for our friends south of the border, in the United States. Here at home, the market is digesting the most recent GDP data for November, while the U.S. Federal Open Market Committee made the decision to hold interest rates in the country…. Read more »

Market Recap: Record canola acres, pulse crop frustration, and wheat optimism

Are you holding out for $10 yellow peas, when you know you’re profitable at $8 per bushel? That’s just one of the gems we’ve mined from this quick market recap from none other than FarmLead founder, Brennan Turner. Earlier this week, Turner once agains joined Shaun Haney at the RealAgriculture booth at FarmTech to wade… Read more »

Currency Wars — where is the U.S. dollar really headed?

Last week there were reasons for confusion on what direction the American dollar might take based on White House policy. Most of the confusion last week was driven by comments made by different members of the White House team. “It’s interesting, it’s almost like currency wars at the moment,” says Matthew Pot of Grain Perspectives… Read more »

Gains amidst uncertainty — This week in the grain markets

Grain markets this week were mainly trading relative to the headlines, taking cues from the U.S. dollar, free trade agreements, and dryness in both South and North America. The U.S. dollar dropped to its lowest level in three years this week after the U.S. Treasury Secretary said he didn’t care which direction it went. The… Read more »

The dilemma with acreage decisions for 2018

With adequate supplies of most crops, the grain and oilseed market is not giving Western Canadian farmers a strong signal to plant more of any major crop in 2018. At the same time, India’s tariffs on pulse crops have producers looking for alternatives to peas and lentils for some acres. From a strictly marketing standpoint,… Read more »

Will wheat acres be switched to oats?

Oat futures have climbed more than 30 cents a bushel since the start of the new year, raising the question: will more acres switch from wheat to oats? As of Wednesday, nearby and new crop oat futures in Chicago were in the 42 to 45 percent range relative to Minneapolis wheat. The flatter, quieter spot… Read more »