Reading Time: 2 minutes MarketsFarm — The Prairie provinces have been under the influence of a large ridge of high pressure for a number of weeks, which has produced prolonged dryness with little precipitation. That high pressure system has pushed low-pressure, precipitation-carrying systems to the south, where the U.S. Midwest has already received significant rain. Environment Canada estimated the […] Read more
Prairie drought reaches tipping point
Feed weekly outlook: Grain prices strong as dry weather persists
Reading Time: < 1 minute MarketsFarm — Producers are anxious to stock up on feed grains as weather across the Prairies has remained dry. “We’ve been seeing buyers being quite aggressive [when] bidding on all feed grains,” explained Nelson Neumann of Agfinity in Lethbridge. “Nobody wants to be caught without anything over the summer.” With little precipitation in the forecast, […] Read more
ICE weekly outlook: Canola markets remain sensitive to weather
Reading Time: < 1 minute MarketsFarm — Canola markets were following trends set by soybean prices, as worries of late planting weighed on the minds of traders and farmers alike. As corn planting comes to an end, prolonged wet weather has continued to delay soybean planting to the point where the growing season may be shortened. “I think the market […] Read more
Sunflowers doing well despite drought
Reading Time: < 1 minute MarketsFarm — Though many producers bemoan current drier-than-normal springtime conditions across the Prairies, sunflower crops are primed for a good year. “As long as there’s enough moisture to germinate, they immediately grow a really deep root system,” said Ben Friesen of Scoular Canada. While Statistics Canada estimated the 2019 sunflower acreage to remain pretty much […] Read more
CBOT weekly outlook: Weather, trade wars keep futures volatile
Reading Time: < 1 minute MarketsFarm — Extended durations of wet spring weather continue to buoy prices on the Chicago Board of Trade — and price volatility will remain high based on long-term weather forecasts. “Whenever you’re in a weather problem phase, volatility tends to increase,” explained Terry Reilly, a grains analyst with Futures International. Currently, soybeans are trading around […] Read more
Pulse weekly outlook: Opportunities ahead for dry beans
Reading Time: 2 minutes MarketsFarm — Ongoing trade wars between the United States, Europe, and China may open the door to new markets for Canadian edible beans. According to reports, the European Union is bracing for tariffs from the U.S. on billions of euros worth of European goods, adding to the litany of other global trade wars. If trade […] Read more
Feed weekly outlook: Weather buoys grain prices
Reading Time: < 1 minute MarketsFarm –– A dry spring on the Prairies, coupled with intensely wet weather south of the border, has frustrated producers and supported higher feed grain prices. Barley prices have rallied “quite strongly” due to dry weather observed across most of the Prairies, combined with tight supplies from previous years, said Nelson Neumann of Agfinity in […] Read more
Timing not yet set on expanded advance payments for canola
Reading Time: 2 minutes MarketsFarm — With no clear end in sight to the dispute between China and Canada over Canadian canola, producers are anxious to know how and when they might access support programs to maintain cash flow. Since plans to help canola growers through expansions to the federal Advance Payments Program (APP) were announced May 1, there […] Read more
CBOT weekly outlook: Trade volatile ahead of USDA announcement
Reading Time: 2 minutes MarketsFarm — The Chicago Board of Trade saw “a wild ride of volatility” on Wednesday, following rumours of a U.S. Department of Agriculture farm aid package that could top US$15 billion. The package would include payments of about $2 per bushel for soybeans and four cents per bushel for corn, according to Bloomberg. An official […] Read more
Pulse weekly outlook: Chickpea prices remain low, future bright
Reading Time: 1 minute MarketsFarm — Lower prices are expected to lead to a drop in Canadian chickpea acres in 2019, but the future is bright for the crop as new consumer markets gain popularity. Seeded acres for chickpeas almost quadrupled between 2017 and 2018, rising from 160,000 to 442,900, respectively. Since inventory from the 2018 growing season is […] Read more
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