Reading Time: < 1 minute MarketsFarm – Canadian wheat ending stocks for both the current marketing year and 2023/24 (Aug/Jul) were revised lower by Agriculture and Agri-Food Canada’s market analysis division in its updated supply/demand estimates, released July 21, with tighter oats and pulse stocks also expected. Wheat ending stocks for 2022/23 were lowered to 3.540 million tonnes by AAFC, […] Read more
AAFC lowers Canadian wheat ending stocks estimates
Drop in estimated oats carryout another notable adjustment
Feed weekly outlook: Dry weather cuts into barley prospects
Canadian buyers already booking new-crop U.S. corn
Reading Time: 2 minutes MarketsFarm — Dry weather across the Canadian Prairies may be cutting into barley production prospects, keeping domestic feed prices underpinned for the time being despite the likelihood of large corn imports from the United States. Alberta’s barley crop was only rated 43 per cent good to excellent in the latest weekly report, well off the […] Read more
Pulse weekly outlook: Exports solid through 10 months
West Coast ports move to clear strike backlog
Reading Time: 2 minutes MarketsFarm — Canadian pulse exports continued at a solid pace through most of the 2022-23 marketing year, although recent disruptions on the West Coast may cut into the final total. Roughly a quarter of all Canadian pea exports, a third of the lentils, and all the chickpeas typically move by container, with a strike by […] Read more
Net short position nearly gone in canola
Traders still net short in CBOT wheat, corn
Reading Time: < 1 minute MarketsFarm — Speculative traders continue to exit their bearish bets in canola, with the net short position dipping below 4,000 in the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of July 11, the net managed money short position in canola futures came in at 3,899 contracts (34,124 short, […] Read more
ICE weekly outlook: Canola climbs on weather worries
Demand rationing also seen as supportive
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market moved steadily higher during the week ended Wednesday, hitting its strongest levels in more than four months as bullish chart signals and production uncertainty across the Prairies provided support. A bearish reaction in the Chicago soy complex to the latest supply/demand estimates (WASDE) from the U.S. Department of […] Read more
Fund short position hits six-month low in canola
CBOT soybeans show reduced net long
Reading Time: < 1 minute MarketsFarm — The speculative short position in ICE Futures canola fell to its smallest level in six months at the beginning of July, as fund traders covered short positions and put on some new longs. That’s according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of July […] Read more
CBOT weekly outlook: Acreage at forefront in soy, corn markets
USDA estimates were bullish for soy, bearish for corn
Reading Time: 2 minutes MarketsFarm — Surprising acreage estimates released by the U.S. Department of Agriculture last Friday could remain a major feature in soybean and corn markets for the foreseeable future, as traders contemplate a much smaller-than-expected soybean acreage base and larger-than-expected corn area. “You can’t close your eyes on these acreage numbers,” said Scott Capinegro of Barrington […] Read more
Prairie cash wheat: Canadian bids drop with U.S. futures
Canadian dollar also down on week
Reading Time: 2 minutes MarketsFarm — Spring wheat bids in Western Canada dropped sharply during the week ended Thursday, as a selloff in U.S. futures weighed on values. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down by $23.50-$25.40 per tonne across the Prairies, according to price quotes from a cross-section of delivery points […] Read more
U.S. farmers plant more corn, less soybeans in 2023
Total U.S. wheat acres estimated up about 8.5 per cent
Reading Time: < 1 minute MarketsFarm — Farmers in the United States seeded more corn and less soybeans than earlier intentions in 2023, according to updated acreage data Friday from the U.S. Department of Agriculture. Total corn plantings in the country were estimated by USDA at 94.1 million acres, which was a million acres above the top end of trade […] Read more
Feed weekly outlook: U.S. corn keeps making way into Canadian rations
Ease of sourcing corn by rail an attractive feature
Reading Time: < 1 minute MarketsFarm — The size and quality of the 2023 Canadian grain crop is still very much in the air, but domestic feeders intend to keep at least some corn from the U.S. in their rations going forward no matter what is grown on the Prairies. Canadian buyers have already booked 78,500 tonnes of U.S. corn […] Read more
A message from April Stewart, Country Guide's Associate Editor
