May 26 - Closing Markets

BLACKBURN AGRI-MEDIA CLOSING MARKET REPORT:
Date: 05-26-10

On the Chicago Board of Trade:

Corn Futures:
July up 7 and a quarter at 3.71 and a half
September up 7 and a half at 3.81

Soybean Futures:
July up 7 and a half at 9.38
August up 8 and a half at 9.29 and a half

Wheat Futures:
July up 1 and a quarter at 4.61 and a half
September up 1 at 4.79

Oat Futures:
July up 1 at 1.92 and a half
September up 1 at 2.01

-> FROM DAUPHIN FEED AND SUPPLY, THE 48% SOYBEAN MEAL QUOTE, F-O-B HAMILTON = $357/tonne

-> CLOSING LOCAL GRAIN PRICES FROM SNOBELIN FARMS:

09 CROP CORN = up 8 at 3.64/BU
2010 CROP CORN = up 8 at 3.74/BU
2011 CROP CORN = up 7 at 3.98/BU

Note there's a basis change for old and new beans:

09 CROP SOYS = down 3 at 9.53/BU
2010 CROP SOYS = down 3 at 8.75/BU
2011 CROP SOYS = up 2 at 8.82/BU

09 CROP SOFT RED WINTER WHEAT = up 1 at 3.82/BU
2010 CROP SOFT RED WINTER WHEAT = up 1 at 3.92/BU
2011 CROP SOFT RED WINTER WHEAT = up 1 at 4.94/BU

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Ontario Pork Reports:

TOTAL SALES = 17,725
FOR A = 3 DAY TOTAL OF = 43,229
THAT'S = down 12,978 FROM LAST WEEK.
THE AVERAGE PRICE WAS = $1.64/kilogram
THAT'S steady
THE U-S NATIONAL COST PRICE = $83.42 U-S, DRESSED WEIGHT
That's down 90 cents
FORWARD CONTRACT PRICE FOR September-October DELIVERY IS $146.25
WHICH IS down 19 cents
ESTIMATED SALES FOR Thursday = 26,000
AT = $1.63/kilogram

Farm Cash Receipts Down In First Quarter

Canadian farmers took in less money for their crops and livestock sales in the first three months of this year compared to the first three months of last year.
Statistics Canada says farm cash receipts were down just over 12 per cent.
Alberta producers got hit hardest with a 17 point 3 per cent drop.
Crop receipts were down over 17 per cent - livestock receipts down about 4 and a half per cent.
Statscan says those drops were down right across the province for both livestock and crops.
The supply-managed sector saw farm cash receipts go up almost 1 per cent.
Most of that came from higher prices for milk and eggs.
Poultry receipts were actually down 2 and a half per cent.
Statistics Canada points out that farm cash receipts measure gross revenue for farm businesses.
The agency says those numbers do not include expenses and loans and also don't cover depreciation.

Realised Net Farm Income Down In 2009

Statistics Canada is blaming the U-S Country of Origin Labelling rules for at least some of the drop in livestock exports last year.
The agency says COOL - plus the lower demand for livestock products because of the recession - helped cut the exports of cattle and hogs by about a third from 2008 to 2009.
Statscan says those drops helped drive livestock receipts last year down by almost 5 per cent.
Crop receipts last year remained virtually unchanged from the 2008 levels.
Overall Statscan says realised net farm income last year was down 0 point 3 per cent from 2008.
It defines realised net farm income as the difference between a farmer's cash receipts and operating expenses - minus depreciation - plus income in kind.
Realised net farm income fell in four provinces, including Ontario.

USDA: Higher Retail Beef Prices This Summer

The U-S-D-A says American consumers can expect to pay higher beef prices in the coming months.
The latest U-S-D-A cattle on feed numbers suggest tighter supplies leading to favourable prices for feedlots.
U-S-D-A economist Shayle Shagum says that's going to mean higher beef prices at the grocery store.

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Shagam says forage conditions so far would suggest U-S beef producers will have favourable conditions for holding cows over the coming winter.
He says that could lead to more beef available next year to help drive U-S beef prices down in 2011.

'Dating Service' For Those With Local Food Interest

A new website has been launched to help meet consumer demand for local food and help Greenbelt farmers find new market opportunities.
Greenbeltfresh.ca is a project of the Friends of the Greenbelt Foundation.
They're hoping commercial buyers will source their requirements by tapping into the site's listings for over 600 farms in the Greenbelt.
Individual consumers can use the Marketplace section of the site to find fresh food from local farmers' markets, on-farm markets, pick-your-owns and more.
Foundation spokesperson Burkhard Mausberg says it's like a dating service for local food - it helps people with an interest in local food find each other.
The Foundation argues eating food from the Greenbelt is a powerful way to support family farms, improve the regional economy and strengthen the Greenbelt itself.