Reading Time: < 1 minute MarketsFarm — There’s more to the sharp decline in U.S. wheat and corn futures than the possibility of Ukrainian exports returning to the global market along with the massive liquidation of longs, according to analyst Errol Anderson of ProMarket Communications in Calgary. “My theory with what is going on is that we’re seeing a fairly […] Read more
ICE weekly outlook: ‘Meltdown’ not yet on canola market radar
CBOT weekly outlook: Prices likely to trend downward
Reading Time: 2 minutes MarketsFarm — With weather in the U.S. becoming more favourable for spring planting, combined with other factors, prices on the Chicago Board of Trade CBOT) are expected to push lower, according to Scott Capinegro of Barrington Commodity Brokers at Barrington, Ill. “If you’re getting it planted and it rains, the stuff is off to a […] Read more
Feed weekly outlook: Wheat far more expensive
Reading Time: < 1 minute MarketsFarm — The price for feed wheat is exorbitantly much higher than for barley or corn, according to Jim Beusekom of Market Place Commodities in Lethbridge. While price reports into that area’s feedlot alley put feed barley at $465 per tonne and corn at $480, wheat is about $600, he said. Feed wheat “is trending […] Read more
Pulse weekly outlook: Still early in season to switch crops
Decisions likely in next couple of weeks
Reading Time: < 1 minute MarketsFarm — With dry conditions dominating western and southwestern Saskatchewan and wet conditions prominent in the province’s east and northeast, at mid-May it remained early to consider switching pulse crops to something else, according to Carl Potts, executive director of Saskatchewan Pulse Growers. Overall, he said, spring planting throughout the province as of May 9 […] Read more
Eastern Prairies’ wet conditions may curb insect pest risk
Late-seeded crops may germinate more quickly in warmer soils
Reading Time: 2 minutes MarketsFarm — If there could be one benefit to the excessive moisture across much of southern Manitoba and the Interlake region, that would be a potentially reduced risk for insect pests, according to John Gavloski, entomologist for Manitoba Agriculture, Food and Resource Development. For example, Gavloski cited flea beetles, which could damage canola. “If [canola] […] Read more
ICE weekly outlook: Conditions a challenge for Prairie canola
Reading Time: < 1 minute MarketsFarm — Wet conditions throughout much of the eastern half of the Canadian Prairies continued to delay spring planting this week. Meanwhile, the western half of the region remained mired in drought and in need of rain to help recently-seeded crops get off to a good start. “Get it in the ground and get some […] Read more
CBOT weekly outlook: U.S. spring wheat seeding near standstill
Reading Time: < 1 minute MarketsFarm — A succession of weather events has pretty much brought spring planting in North Dakota and Minnesota to a standstill, according to analyst Tom Lilja of Progressive Ag at Fargo, N.D. The weekly crop progress report from the U.S. Department of Agriculture (USDA) estimated nationwide planting of spring wheat at 19 per cent complete […] Read more
ICE weekly outlook: Canola books steep rise in prices
Reading Time: 2 minutes MarketsFarm — Canola prices, along with other edible oils, received a strong boost on Wednesday due to sharp upticks in Malaysian palm oil values. Canola futures have also received support from a bullish forecast this week from Statistics Canada on planted acres for this spring. Despite the Indonesian government stating Monday its export ban on […] Read more
Prairie cash wheat: Red spring falls back, durum rises
U.S. wheat futures down on week
Reading Time: 2 minutes MarketsFarm — Wheat prices on the Prairies during the week ended Thursday incurred moderate losses in Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) while durum (CWAD) pushed upward. Declines in the U.S. wheat complex led the way, with a higher Canadian dollar this week adding more pressure on Prairie wheat prices. […] Read more
IGC tweaks old-crop numbers, makes bigger changes in new-crop
Reading Time: 2 minutes MarketsFarm — There were a few tweaks to the old-crop data in the April supply/demand report from the International Grains Council (IGC) on Thursday — but somewhat more significant numbers for its new-crop projections. For the 2021-22 crop year, the IGC bumped up total global grain production by three million tonnes at 2.287 billion tonnes, […] Read more
A message from April Stewart, Country Guide's Associate Editor
