Reading Time: 2 minutes MarketsFarm — Canadian farmers intend to plant more wheat and canola in 2023, with soybeans, corn and barley area also forecast to expand, according to Statistics Canada’s projections for field crop area. The increases in those crops will come at the expense of oats, lentils and peas, with intended summerfallow area down to its smallest […] Read more
StatCan expects more wheat, canola acres in 2023
Corn, soy, barley acres also expected up
Merit Foods co-owner Burcon partnering on bid for assets
Unnamed 'plant protein company' now in on Burcon's bid
Reading Time: 2 minutes A major shareholder in beleaguered pea and canola protein processor Merit Functional Foods has brought on an unnamed partner in its bid to buy the business out of receivership. After announcing last month it would submit a bid for the next-to-new Merit assets, Vancouver-based plant protein firm Burcon NutraScience said Monday it’s now “participating in […] Read more
Analysts expect additional acres for canola, wheat
StatCan estimates due out Wednesday
Reading Time: 3 minutes MarketsFarm — If traders and analysts are correct with their estimates, there will be slightly more wheat and canola acres seeded in Canada this year compared to 2022. Statistics Canada (StatCan) will release its first survey-based acreage estimates for the 2023-24 marketing year on April 26. Other than drier and cooler conditions in southern Manitoba, […] Read more
AAFC raises canola stocks projections
StatCan's early acreage estimates due out this week
Reading Time: < 1 minute MarketsFarm — Canola ending stocks for both the current marketing year and 2023-24 were raised slightly by Agriculture and Agri-Food Canada (AAFC) in its latest supply/demand projections, released Friday. The government agency lowered its canola export forecast for 2022-23 by 200,000 tonnes from March, now pegging movement at 8.4 million tonnes. With domestic usage left […] Read more
ICE weekly outlook: Weather to influence canola price movement
Short-covering seen supporting front months for now
Reading Time: < 1 minute MarketsFarm — Canola contracts on the ICE Futures platform held relatively rangebound during the week ended Wednesday, trading within a $20 per tonne range in most months as market participants wait to get a better handle on new-crop prospects. “There’s some concern developing on seeding delays,” said Jamie Wilton of RJ O’Brien in Winnipeg, adding […] Read more
Are the reservoir dog days ending?
If the new canola processors announced for Regina become fully functioning facilities, they could process an additional 4.5 million tonnes of canola per year. Could Lake Diefenbaker water help?
Reading Time: 9 minutes The quickest path from Regina, Sask., to Steve Nelson’s farm at Birsay is to cross Lake Diefenbaker on the Riverhurst Ferry. The flat-deck ferry travels on the hour, carrying vehicles across the two-kilometre expanse of water, cutting highway travel time by at least an hour, maybe two. As a bonus, the experience gets travellers up […] Read more
ICE weekly outlook: New-crop November canola set to step back
StatCan not expected to sway futures much
Reading Time: < 1 minute MarketsFarm — There is presently little upside to new-crop November canola on ICE Futures, according to analyst Errol Anderson of ProMarket Communications in Calgary. Anderson pointed to losses in Malaysian palm oil and weakness in China’s soymeal market as weighing on ICE canola values, with more pressure coming out of South America. “The [soybean] production […] Read more
Louis Dreyfus expanding Yorkton canola crush plant
New expansion would more than double plant's capacity
Reading Time: 2 minutes Louis Dreyfus’ Yorkton, Sask. canola crushing plant is about to undergo another major expansion. The project, announced Tuesday, is expected to add an additional canola crushing line and more than double the plant’s annual capacity to over two million tonnes upon completion. Construction is due to begin later this year. The crush plant, built in […] Read more
Canola fund short position shrinking
Managed money is net long on corn, soy
Reading Time: < 1 minute MarketsFarm — Managed money fund traders continued to cover their large short positions in canola in early April, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of April 4, the net managed money short position in canola futures came in at 49,470 contracts (70,671 short; 21,201 […] Read more
Bidding open for Merit Foods for two more weeks
Stakeholder Burcon plans to put up 'compelling bid'
Reading Time: 3 minutes The fate of Winnipeg pea- and canola-based protein processor Merit Functional Foods won’t be confirmed until the end of April at the earliest. Merit, whose major shareholders include Vancouver plant-based protein firm Burcon NutraScience, U.S. agrifood firm Bunge and former executives of Hemp Oil Canada, was placed into receivership March 1. According to the first […] Read more
A message from April Stewart, Country Guide's Associate Editor
