GFM Network News

Long-range forecast points to cool, wet spring for northern Prairies

Reading Time: < 1 minute MarketsFarm — Central and northern agricultural regions of Saskatchewan and Alberta are forecast to see cooler-than-normal temperatures with above-average precipitation over the next three months, according the latest long-range outlook from Environment Canada. The department’s latest seasonal weather maps, dated Sunday, show a 40-50 per cent chance of above-normal precipitation across most of the northern […] Read more

Global grain production to increase, IGC predicts

Reading Time: 2 minutes MarketsFarm — The International Grains Council (IGC) issued projections Thursday calling for a slight increase in total global grain production for the current marketing year and for 2020-21. The U.K.-based council forecast world production at 2.175 billion tonnes, which would be an increase of three million tonnes from its February report. The IGC said that’s […] Read more

Average Prairie heat, more rain in summer forecast

Reading Time: < 1 minute MarketsFarm — Canada’s Prairies should see higher-than-normal precipitation and generally average temperatures during the 2020 growing season, according to a forecast from Scott Kehler of Weatherlogics. Speaking Thursday at CropConnect in Winnipeg, Kehler said “there’s not really a strong pattern one way or the other” when it comes to the temperature outlook. The Weatherlogics forecast […] Read more

CN strike to weigh on railway’s 2019 profit

Reading Time: < 1 minute Reuters — Canadian National Railway on Tuesday cut its adjusted profit growth target for 2019, citing shipment delays from the country’s largest rail strike in a decade that ended last week. Shares in CN, which counts billionaire Bill Gates’ investment firm as its biggest shareholder, fell almost two per cent in morning trading in both […] Read more

Near-normal monsoon expected in India

Reading Time: < 1 minute MarketsFarm — Monsoon rains in India are expected to be near normal in 2019, according to the first long-range forecast of the year from the India Meteorological Department. The southwest monsoon typically runs from June through September. It provides crucial moisture for the country’s agriculture sector, as it accounts for roughly 70 per cent of […] Read more

Canola prices vulnerable after StatsCan report

Reading Time: 2 minutes CNS Canada — The latest acreage report from Statistics Canada failed to surprise most investors in the market, but still could leave canola futures looking overpriced, according to a trader. “It certainly is a negative number,” said Ken Ball of PI Financial in Winnipeg, referring to the agency’s estimate for canola. StatsCan’s report on Friday […] Read more

U.S. grains: Wheat falls; corn, soy firm

Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures fell on Friday, led lower by a sharp decline in MGEX spring wheat as investors liquidated bullish positions following the U.S. Department of Agriculture’s forecast for a bigger-than-expected crop in the northern Plains, traders said. The selloff pushed the benchmark Chicago Board of Trade soft red winter wheat […] Read more

Soggy forecast worries Prairie farmers in race to seed crops

Reading Time: 2 minutes Winnipeg | Reuters — Heavy rain forecast for the soggiest parts of the Prairies this week is likely to further delay seeding in the world’s biggest canola-exporting country, meteorologists say. The rain, forecast to hit Alberta and Saskatchewan on Wednesday and Thursday respectively, would be the latest blow to farmers who could not harvest all […] Read more