Reading Time: < 1 minute The ICE Futures canola market fell sharply lower during the first few trading days of June, taking out several former support levels on the way down as large old crop supplies, relatively favourable new crop production prospects and speculative fund selling weighed on prices.
ICE canola weekly outlook: Peaks likely in for the season
Saskatchewan seeding progress running behind average
Reading Time: 2 minutes Saskatchewan farmers made good seeding progress during the week ended May 27 although operations continue to run behind average as varied rainfall caused some delays, according to the latest weekly report from the provincial agricultural department.
‘Status quo’ for Prairie feed market
Reading Time: < 1 minute Feed grain bids in Western Canada lack any clear direction for the time being, as farmers finish up spring seeding around consistent rains.
Realized Canadian farm income up, net income down in 2023
Total farm cash receipts rose 4.4 per cent compared with 2022 on higher crop marketings; cattle prices
Reading Time: 2 minutes Realized net income for Canadian farmers rose 18.3 per cent in 2023 to C$14.5 billion, as growth in receipts offset a rise in expenses, according to a report from Statistics Canada released May 29.
Chicago soybeans/corn watching weather, wheat
Reading Time: < 1 minute Soybean and corn futures at the Chicago Board of Trade suffered a profit-taking correction on May 29, as speculative positioning and relatively favourable seeding progress across the United States weighed on values.
St. Lawrence Seaway grain movement up five per cent in 2023
Reading Time: < 1 minute Grain movement through the St. Lawrence Seaway was up by five per cent in 2023 compared to the previous year, with Canadian wheat accounting for well over half of all the grain moved, according to a joint report from the Canadian St. Lawrence Seaway Management Corporation (SLMC) and the United States Great Lakes St. Lawrence Development Corporation (GLS) released May 27.
India expecting above-average rains from upcoming monsoon
Reading Time: < 1 minute Above-average moisture is expected from India’s annual southwest monsoon this year, according to an update from the India Meteorological Department (IMD) released Monday.
Fund short position steady in canola
Reading Time: < 1 minute The managed money net short position in canola futures held steady during the week ended May 21, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
U.S. corn still moving into feed channels, but new business slow
Reading Time: < 1 minute Corn from the United States continued to move into Canadian feed channels at a steady pace, but little fresh business is going on the books as end users turn their attention to new crop production prospects.
Manitoba seeding progress nears halfway mark
Reading Time: < 1 minute Spring seeding in Manitoba neared the halfway mark during the week ended May 21, with 47 per cent of intended acres in the ground, according to the latest provincial crop report. That compares with 30 per cent the previous week and the five-year average of 52 per cent done.
A message from April Stewart, Country Guide's Associate Editor
