Reading Time: 2 minutes With Brazil having faced opposing weather extremes, there’s little surprise the United States Department of Agriculture attaché cut their soybean production estimate for 2023/24. The Brasilia desk reduced its call from a record 162 million tonnes to 158.5 million in its latest report.
USDA Brazil attaché cuts soybean projections for 2023/24
Several firms have dropped Brazil soybean projections on seeding delays, weather
Feed weekly outlook: Several factors weighing on prices
Warm weather means less feed needed, easier movement says analyst
Reading Time: < 1 minute Feed grain prices across the Canadian Prairies are expected to continue falling back for the next few months due to a number of reasons, according to Evan Peterson of JGL Commodities in Saskatoon, Sask.
Most lentil prices at year highs as 2023 closes
Little movement among Western lentils as New Year dawns
Reading Time: < 1 minute With the New Year, there was scarce price movement among the lentils in Western Canada, according to Prairie Ag Hotwire. A number of lentil varieties saw the upper end of their price range hit highs as 2023 drew to a close.
ICE weekly outlook: No reason for strong rally in canola
Canola likely to pull back once trading gets back into full swing in New Year
Reading Time: 2 minutes There were strong gains for canola on the Intercontinental Exchange on Dec. 27, as trading resumed after being closed for Christmas and Boxing Day. However, the gain will likely not be the prelude to a major upswing in the oilseed’s prices. Rather, canola is likely to pull back once trading gets back into full swing after the New Year, according to analyst Bruce Burnett of MarketsFarm.
CBOT weekly outlook: U.S. wheat remains rangebound
U.S. wheat prices essentially bottomed out during late November; recovered somewhat in December
Reading Time: 2 minutes United States wheat prices have been in something of a quandary lately, with any hope of higher prices curtailed by the need to remain competitive with cheaper Russian wheat, according to Tom Lilja of Progressive Ag in Fargo, North Dakota.
Prairie cash wheat: Most Western Canadian cash prices drop
Surge in Canadian dollar weighed on Prairie cash prices
Reading Time: 2 minutes Wheat prices across the Canadian Prairies fell back for Canadian Western Red Spring Wheat and Canada Prairie Red Spring Wheat, while those for Canadian Western Amber Durum were mixed.
Feed weekly outlook: U.S. corn imports keep lid on Prairie feed grains
Mild Prairie weather contributing to lower feed demand
Reading Time: < 1 minute Glacier FarmMedia – Feed prices for barley and wheat across much of Western Canada are very likely to remain low until the end of winter/the beginning of spring, according to Erin Harakal of Agfinity in Stony Plain, Alta.
Pulse weekly outlook: Good prices for green, yellow peas
Reduced production, increased demand from India and China bolster market
Reading Time: 2 minutes Glacier Farm Media – Prices for green and yellow peas across Western Canada have likely hit their peak, according to Darwin Hamilton of Kalshea Commodities Inc.
ICE weekly outlook: Canola likely to keep sliding back
With larger crop, trade likely to be overwhelmed by deliveries, analyst says
Reading Time: 2 minutes There is a rather significant bearish outlook for canola for the rest of December, according to Jerry Klassen of Resilient Commodity Analysis. He said a large part of this was generated by the Statistics Canada production report released on Dec. 4.
Higher canola, wheat production expected in StatCan report
Traders raise concerns about report accuracy
Reading Time: 3 minutes MarketsFarm — There was a consensus among several traders and analysts that Statistics Canada will very likely raise its estimates on canola and wheat production for 2023-24. Yields on the Prairies were better than expected following a difficult first half of the growing period, as the weather improved during the second half. StatCan is set […] Read more
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