Reading Time: 2 minutes MarketsFarm — Australia will see its highest-ever winter crop production thanks to record wheat and canola harvests, according to the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) released Monday. Winter crop production in Australia is estimated at 67.6 million tonnes, up 8.4 per cent from ABARES’ crop […] Read more
Record winter crop production expected for Australia
Summer crop production seen down on year
Merit Foods stakeholder looking to buy company
Burcon 'actively engaged' with company's receiver
Reading Time: 2 minutes One of the joint-venture owners of Winnipeg pea and canola protein processor Merit Functional Foods says it’s in talks to buy full control of the cash-strapped company. Two days after Merit entered a court-ordered receivership, Vancouver-based Burcon NutraScience announced Friday it “intends to submit a formal proposal to acquire the business.” Burcon said Merit’s receivership […] Read more
Plant protein processor Merit Foods in receivership
Company owes $95 million to EDC, FCC
Reading Time: 3 minutes The company behind a new Prairie processing plant extracting plant-based proteins from peas and canola has landed in receivership, in the high eight figures’ debt to its secured lenders. PricewaterhouseCoopers (PwC) on Wednesday announced it’s the receiver for both Merit Functional Foods Corp. and the numbered company that owns Merit’s processing plant and property in […] Read more
ICE weekly outlook: Canola drifts downward with soybeans
Wheat's recent decline may spur canola acres
Reading Time: 2 minutes MarketsFarm — The ICE Futures canola market drifted downward during the week ended Wednesday largely due to macroeconomic activity in the markets, according to one analyst. Jerry Klassen from Resilient Commodity Analysis in Winnipeg said canola prices have mostly followed the lead of the Chicago soy complex, while rains fell on Brazil as its soybean […] Read more
Crop, livestock prices offset reduced marketings in 2022
StatCan data on farm cash receipts tracks recovery off 2021 drought
Reading Time: 2 minutes New full-year data on Canada’s farm cash receipts in calendar 2022 show how increased commodity prices last year more than offset the drop in quantities sold. Statistics Canada on Tuesday released figures showing Canadian farm cash receipts in 2022 at $94.9 billion, up 14.1 per cent from 2021, including crop receipts of $53.9 billion (also […] Read more
New seed treatments broaden protection against crop diseases, pests
Corteva launch in Canada adds to the suite of products for corn and canola
Reading Time: 3 minutes Protecting a crop against weeds, diseases and pests is a challenge any year, but in a year of higher-than-average prices, the value of robust protection takes more importance. As growers continue to look for every competitive advantage to maximize profits, two new seed treatments have entered the market, one for corn and the other for […] Read more
ICE weekly outlook: Rising canola market runs into resistance
Resistance seen around $835, support around $820
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts moved higher during the week ended Wednesday, but ran into some resistance to the upside as values held rangebound overall. “Technicals, short-covering, fund buying and a lack of selling,” were all providing support during the week along with spillover from advances in Chicago soyoil, according to Jamie Wilton of […] Read more
AAFC revises crop estimates
Export, new-crop production outlooks revised lower for flax
Reading Time: < 1 minute MarketsFarm — Agriculture and Agri-Food Canada (AAFC) on Friday released its February supply and demand estimates with numerous small changes. AAFC held its projections for 2022-23 grains and oilseeds production at 89.489 million tonnes. As for exports, the department reduced them from 45.715 million tonnes last month to now 45.49 million. Furthermore, domestic usage was […] Read more
ICE weekly outlook: Canola drifting lower
Near-record soy still expected from South America
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts drifted lower during the week ended Wednesday, although values remained rangebound overall. “The market is maybe coming to the realization that we still have near-record South American (soybean) supplies on hand,” Ken Ball of PI Financial in Winnipeg said of the downtrend. While Argentina has suffered crop losses from […] Read more
ICE weekly outlook: March canola unchanged from last week
Loonie's relative strength seen as drag on values
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market was once again trading rangebound for the week ended Wednesday, as the March contract was left unchanged from one week earlier at $828.20. The contract oscillated between a range of $819.40 and $837 per tonne during the week, all the while seemingly immune from larger price ranges seen […] Read more
A message from April Stewart, Country Guide's Associate Editor
