Feeds:
Posts
Comments

Posts Tagged ‘crops’

MarketView-May 3

Global markets are trading slightly higher this morning. US unemployment for April drops to 7.5% (a 4 year low) and better than expected job growth while the European economy is headed for further slowdown and slower deficit cuts, according to Reuters

Crops:
Crops futures are trading modestly higher in the early session as investors express concerns that continued cold temperatures and snow forecasts across the US Midwest will put a dent into yields, according to Agrimoney.com. A 5% week-over-week gains in US export corn sales may also be a factor in this morning’s positive momentum.

Livestock:
Live cattle futures are showing some pull-back this morning after yesterday’s positive gains.

MarketView is prepared by Jennifer Stevenson, Ontario Ministry of Agriculture and Food and Ministry of Rural Affairs. Disclaimer: This commentary is provided for information only and is not intended as advice

Read Full Post »

Global markets are largely unchanged overnight. Chinese manufacturing data for April came in weaker than expected, putting the commodities sector under pressure

Crops:
Crops are trading lower across the board, despite forecasts of snow over the next 3 days for the main planting region in the US. There was much debate in Twitter in #corn last night over whether current US Midwest weather conditions would affect US crop prices. The Hightower report speculated that yields would suffer, and are looking at December corn prices to show major support at $5.51 then move to $5.80 and $6.01. Kansas, Iowa and Illinois State Extension agree that the precipitation is adding much needed moisture to the subsoil, and are not immediately concerned that yields will be impacted.

Livestock:
According to Agriculture.com, hog prices increased yesterday to the highest level since August 2012 on speculation that demand – which is seeing higher than expected volumes now – will be driven to even higher levels this summer. The demand is reported to be led by China, where consumers have concerns on locally-raised pork.

MarketView is prepared by Jennifer Stevenson, Finance and Business Structures Program Lead, Ontario Ministry of Agriculture and Food

Disclaimer: This commentary is provided for information only and is not intended as advice.

Read Full Post »