Cash Market Moves

U.S. farmers harvested a near-record crop in 2024 even after a wet spring in some areas stalled planting.

The last tow leaving St. Paul, Minnesota, on Dec. 1 put an end to the 2024 shipping season on the far Upper Mississippi River. In the meantime, levels on the Lower Mississippi River are falling again.

Just as renewed contract talks began between International Longshoremen's Association and United States Maritime Alliance, they quickly ended as automation once again became a sticking point with the union.

The Longshore Workers Union (ILWU 514) issued a 72-hour strike notice to the British Columbia Maritime Employers Association (BCMEA) on Nov. 4; the BCMEA then issued a lock out of workers that same day.

According to the North Dakota Wheat Commission 2024 crop quality reports for durum and spring wheat, both crops overall graded number one, with proteins lower than average for spring wheat and higher for durum.

CME announced the resetting of price limits for grain and oilseed futures as of Nov. 1, 2024; its variable price-limit mechanism enacted in March 2014, resets price limits every six months in each of the CBOT grain and oilseed contracts.

The Mississippi River at Memphis and other spots in the Lower Mississippi River continue to fall without much long-term relief in sight.

U.S. Wheat Associates recently published a first look at results of the U.S. 2024 soft red and hard red winter wheat crops, noting that both crops overall were good quality for bakers and exporters.

Hurricane Helene provided some relief to the Lower Mississippi River, but with the return of dry conditions, water levels are expected to drop.

Dockworkers on strike at 36 U.S. ports have a tentative agreement, temporarily suspending the port strike.

At 12:01 a.m. EDT on Oct. 1, members of the International Longshoremen's Association (ILA) walked off the job at 36 ports East Coast and Gulf ports.

Many mayors from towns along the Mississippi River gathered in Baton Rouge, Louisiana, on Sept. 18 as part of the Mississippi River Cities and Towns Initiative's 13th annual meeting.

Fears are increasing that the ILA and USLX will likely not reach an agreement on their current contract that expires Sept. 30, 2024, opening the door for a strike on Oct. 1, 2024.

As the Southern harvest progresses, it won't be long before harvest picks up farther north, and low river water levels are not a welcome sight currently.

Federal Labour Minister Steven MacKinnon tasked the Canadian Industrial Relations Board to decide whether the railway labour dispute would be ended by forcing parties into binding arbitration.

As the clock struck 12:01 ET on Aug. 22 with no resolution to last minute contract talks, CPKC and CN locked out union workers.

Summary: After Canada's Federal Labour Minister MacKinnon formally rejected calls from CN for binding arbitration, both the CN and CPKC railways are preparing to lock out union workers in four days.

A decision handed down by the Canada Industrial Relations Board opened the door for a lockout or strike if the Canadian National and Canadian Pacific Kansas City railways could not come to a contract agreement with the Teamsters Canada Rail Conference.

The watch is on for the possibility of Fusarium head blight (FHB), also known as scab, to infect wheat crops in eastern North Dakota and western Minnesota where rain and humidity have been prevalent during key stages of the wheat growth.

The annual Wheat Quality Council hard red spring wheat and durum tour kicks off this week with scouts representing much of the wheat industry and more.