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Mark Weinraub

REFILE UPDATE 3-Canada optimistic about making progress to end China canola ban -PM

Mar 22 2019

OTTAWA/CHICAGO, March 22 Canada is optimistic it can make progress this year in talks to persuade China to allow imports of Canadian canola seed to resume, Prime Minister Justin Trudeau said on Friday, even as tensions between Ottawa and Beijing reach new highs.

Grain markets walled off from flood impacts by mountains of supplies

Mar 21 2019

CHICAGO A massive supply of grains has shielded the futures markets from the impact of flooding in the U.S. Midwest so far, with traders largely shrugging off this week's reports of destroyed storage bins, swamped elevators and questions about if waters will recede in time for planting.

Why U.S. growers are betting the farm on soybeans amid China trade war

Mar 20 2019

CHICAGO U.S. farmers are gearing up to plant what could be their third-largest soybean crop ever despite failing to sell a mountain of beans from their last harvest due to a U.S.-China trade war that remains unresolved.

Falling exports, ethanol production boosts U.S. corn stocks: USDA

Mar 08 2019

CHICAGO The U.S. Department of Agriculture (USDA) issued a surprise boost to its outlook for domestic corn supplies on Friday by trimming its estimate of how much will be used by exporters and ethanol producers.

UPDATE 1-U.S. soy supplies surge, winter wheat acreage falls to 110-year low

Feb 08 2019

CHICAGO, Feb 8 U.S. soybean supplies as of Dec. 1 were the biggest on record as demand for the oilseed fizzled amid a trade war between the United States and China, the U.S. Agriculture Department said on Friday.

LIVESTOCK-CME hog futures slip on weaker cash; live cattle mostly firm

Jan 11 2019

By Mark Weinraub CHICAGO, Jan 11 Chicago Mercantile Exchange (CME) lean hog futures closed lower on Friday, following softening cash hog prices, traders said. CME February hog futures settled down 1.425 cents at 62.650 cents per pound, halting a three-session advance. Traders noted that hogs in the top cash market of Iowa and southern Minnesota traded at an average price of $50.73 per cwt, down from $51.10 a day earlier, according to the U.S. Department of Agriculture. "The (futures) market is still carrying a premium to cash. Today and yesterday, we (had) a little bit of a lower cash market. So some of that bullish enthusiasm got sucked out," said Top Third Ag Marketing analyst Craig VanDyke. CME live cattle futures traded mostly higher on technical buying and anticipation of higher cash cattle trade compared to a week ago, brokers said. After the close, cash cattle traded in Kansas and Nebraska at $124 per cwt, up $1 from last week. Packers and cattle feeders were still in a stand-off at the closing bell, a factor that seemed to favor the feedyards, VanDyke said. "To me, that says maybe the yards have a little bit of leverage. So they could, at a minimum, be looking at steady cash trade," he said. CME February live cattle settled 0.100 cent higher at 124.975 cents per pound, after notching a contract high at 125.650 cents. However, CME March feeder cattle fell 0.175 cent at 144.900 cents per pound. The thinly traded January contract also declined, closing down 0.625 cent at 146.125 cents per pound. Trading volume in cattle futures was heavy this week due in part to commodity index funds rebalancing their portfolios, an annual five-session process that began Jan. 8. Traders had expected that the funds would sell roughly 7,000 live cattle futures and 6,000 lean hog futures over the course of the rebalance, and buy about 1,000 feeder cattle futures. (Reporting by Julie Ingwersen Editing by James Dalgleish)

LIVESTOCK-Hog, cattle futures rise as export hopes remain

Jan 10 2019

By Mark Weinraub CHICAGO, Jan 10 Chicago Mercantile Exchange (CME) hog and cattle futures closed mostly higher, supported by hopes for improved exports in the coming weeks, traders said. Technical buying also helped cattle futures,, which were still trading close to contract highs hit earlier in the week. Traders also noted strength in the cash markets as factor for gains in cattle futures. CME February hog futures settled up 0.300 cent at 64.075 cents per pound. Prices peaked at 64.225 cents, their highest since Dec. 17. "There is still optimism that we could see some meat buying by China," said Don Roose, president of U.S. Commodities in West Des Moines, Iowa. "That's still underneath the market." U.S. President Donald Trump said on Thursday the United States was having "tremendous success" in its trade negotiations with China, a day after U.S. and Chinese officials concluded three days of talks in Beijing. CME February live cattle were 0.075 cent higher at 124.875 cents per pound. CME March feeder cattle were 0.275 cent higher at 145.175 cents per pound. The thinly traded January contract dipped slightly, closing down 0.025 cent at 146.800 cents per pound. (Reporting by Mark Weinraub; editing by Jonathan Oatis)

LIVESTOCK-Cattle futures ease after rally; hog futures firm

Jan 09 2019

By Mark Weinraub CHICAGO, Jan 9 Chicago Mercantile Exchange (CME) hog futures rose 2.1 percent to their highest in more than three weeks on Wednesday. Cattle futures were weaker, pressured by profit-taking after the front-month February live-cattle contract hit an all-time high on Tuesday. "There was no fundamental line item to go with it yesterday so today was a pause or a back and fill session," said Dennis Smith, a broker with Archer Financial Services. "People squared things up a bit, maybe took some profits." Hog contracts received support from optimism about U.S.-China trade talks. CME February hog futures settled up 1.175 cent at 63.775 cents per pound. Prices peaked at 64.100 cents, their highest since Dec. 17. U.S.-China trade talks ended on Wednesday with negotiators focused on Beijing's pledge to buy "a substantial amount" of agricultural, energy and manufactured goods and services from the United States, the U.S. Trade Representative's office said. CME February live cattle dropped 0.50 cent to 124.800 cents per pound. CME March feeder cattle was 0.550 cent lower at 144.900 cents per pound. (Reporting by Mark Weinraub; Editing by Richard Chang)

LIVESTOCK-Hog futures rise on China hopes; cattle hits contract highs

Jan 08 2019

By Mark Weinraub CHICAGO, Jan 8 Chicago Mercantile Exchange hog futures were mostly higher on Tuesday, supported by prospects for improving export demand, traders said. The market was waiting for a pickup in deals from China due to the spread of African swine fever there. "That hope is still out there, but it's elusive, and it's up to China," said Don Roose, president of U.S. Commodities in West Des Moines, Iowa. Record U.S. supplies kept futures market gains in check. CME February hog futures settled up 0.700 cent at 62.600 cents per pound. Cattle futures were strong, with the front-month February live cattle contract hitting an all-time high on support from steady cash trade. CME February live cattle settled up 2.10 cents at 125.300 cents per pound, just off its session high. CME March feeder cattle was up 1.500 cents at 145.400 cents per pound. (Reporting by Mark Weinraub Editing by Leslie Adler)

LIVESTOCK-Cattle futures break losing streak on bargain buying

Jan 07 2019

By Mark Weinraub CHICAGO, Jan 7 Chicago Mercantile Exchange live cattle futures rose 1.2 percent on Monday, rebounding from five straight sessions of declines on a round of bargain buying. Feeder cattle futures also closed higher after sinking to a one-month low during the session while lean hog futures eased. Cattle also received support from news that the number of cattle offered for sale was down 6,200 from a week earlier, which may lend support to cash prices, said Rich Nelson, analyst at Allendale. CME February live cattle settled up 1.275 cents at 123.200 cents per pound. CME March feeder cattle were up 1.050 cents to 143.875 cents per pound. CME February hog futures settled down 0.050 cent at 61.900 cents per pound. (Reporting by Mark Weinraub Editing by Tom Brown)

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