Reading Time: 2 minutes Fading El Niño weather patterns will be replaced by La Niña conditions heading into the summer, according to the latest seasonal forecast from The Weather Network.
Fading El Niño to be replaced by La Niña: The Weather Network
Warmer than normal temperatures expected to continue on the Prairies
Spring road restrictions coming soon to Prairies
Grain, equipment movement can be affected by road bans
Reading Time: < 1 minute The spring melt across Western Canada will cause disruptions to grain and livestock movement, as seasonal spring road restrictions come into effect across the Prairies.
Managed money still adding to record large canola short position
Net short position in soybeans increased by about 2,300 contracts
Reading Time: < 1 minute Speculators continued to add to their record large net short position in canola in mid-February, showing little sign of moving to the other side of the market any time soon, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Prairie wheat bids mixed as choppy futures trend lower
Wheat futures tested fresh contract lows
Reading Time: 2 minutes Spring wheat bids in Western Canada were mixed during the week ended Feb. 23 as choppy activity in the United States futures spilled into the cash market.
Feed barley under pressure, but opportunities available
Corn downturn likely to keep feedlots looking to extend coverage
Reading Time: < 1 minute Feed barley bids in Western Canada remained under pressure in mid-February amid continued imports of corn from the United States and the relatively mild Prairie winter. However, localized spot opportunities do pop up occasionally.
Green lentils finding support, while reds under pressure
AAFC projects seeded lentil area in the country to be up by 8.0 per cent
Reading Time: 2 minutes Green lentils continue to show solid premiums over their red counterparts, with prices for both old and new crop green lentils well above where they were at this time a year ago.
Record large fund short position grows in canola
Net short in soybeans, corn also grew
Reading Time: < 1 minute Speculators added to their already record large net short position in early February, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
ICE canola weekly outlook: Market in search of demand
Farmers holding large amounts of unpriced canola waiting for future to move upward, analyst says
Reading Time: < 1 minute A modest attempt at correcting higher was met by stiff resistance in the ICE Futures canola market, with a general downtrend still intact as the futures work to uncover some demand.
USDA raises U.S. carryout, tightens Brazilian production
World wheat carryout estimate downgraded, but well above previous year
Reading Time: 2 minutes Projected ending stocks of soybeans, corn and wheat in the United States were raised slightly higher in the latest supply/demand estimates from the United States Department of Agriculture, while production estimates for Brazil were revised lower.
Less Canadian wheat, more canola on hand to end 2023: StatCan
Some had anticipated even larger on-farm canola stocks, given slower export pace
Reading Time: 2 minutes Canadian wheat stocks at the end of 2023 were considerably tighter compared to the previous year, with oats, corn and pulse crops also seeing supply reductions, according to the latest stocks report from Statistics Canada, released Feb. 8, 2024. However, canola, barley and soybean stocks as of Dec. 31, 2023, were higher compared to the previous year.
A message from April Stewart, Country Guide's Associate Editor
