Excessive heat has taken its toll on pastures, hay supplies, and water consumption for cattle, and while this may not be a big market issue today, Anne Wasko, of Gateway Livestock, says that these factors will mean an earlier, stronger fall run. That's just one of the topics discussed in this week's Beef Market Update.... Read More
Category: Markets
Soybean futures took a 42-cent tumble on Friday after the USDA surprised the market with a 51.6 bushel/acre yield estimate for the U.S. crop — approximately two bushels higher than the average trade guess. The projected yield increase translated into a record 785 million bushel carryout projection (up from the department's 580 million bushel estimate... Read More
This week, winter wheat prices touched a three-year high, but it didn’t last. Chicago SRW wheat prices for September 2018 gained 5 per cent or about 26 cents US/bushel to close at $5.56. While the December 2018 contract was up 5.4 percent — or nearly 30 cents — to finish a tad under $5.80. In... Read More
Thursday was a wild day in the wheat trade based on a confusing report out which seemed to indicate Ukraine was going to restrict exports of milling wheat. Bloomberg ran the story and the market — already in rally mode due to weather concerns in Europe — burst more than 25 cents higher based on... Read More
Crude oil shipments by rail in Canada are at record highs and forecast to continue climbing, as oil production has increased with no major expansion in export pipeline capacity. At the same time, executives for Canada's two major railways say they intend to maintain rail capacity for grain. 198,788 barrels of oil per day were... Read More
As our beef market expert Anne Wasko puts it, 'It was the dog days of summer —but for the beef industry' last week. It was a quiet trade week, and the cattle that did trade looked about $2 lower than the average price this year — however, it's not a big surprise due to the... Read More
Grain markets this week finished higher for the second straight week as the complex seemed to wake up from the nightmare it’s been in the last few months. Corn prices had a fairly good week in Chicago. Front-month and next-month contracts added a few percentage gains as markets kept a close eye on European weather... Read More
If you have heard us say it once, you will hear us say it again: the crop conditions in Western Canada are quite variable. Surprisingly, though, at Ag In Motion last week farmers repeatedly told us that crop conditions were better than you might expect. This week, Farmlink Marketing Solutions staff and third-party field scouts... Read More
On Friday, the Canadian dollar rose nearly a cent relative to the U.S. dollar. The sudden ‘strength’ came from a couple of sources. First, more confidence that the Bank of Canada will continue the path gradual rate hikes; second, a weaker U.S. Dollar. Recent Canadian economic data warrants the Bank’s outlook for gradual rate increases.... Read More
The latest USDA Cattle on Feed report shows once again that the "wall" of cattle was not an unreasonable description. Thankfully, sustained consumer demand has helped greatly. The June report met expectations and further confirms what a bulk of analysts have been talking about the entire 2018 marketing year. Anne Wasko, with Gateway Livestock Exchange... Read More