Reading Time: < 1 minute CNS Canada — Ocean freight rates are trending down, but are still well off the record lows seen exactly a year ago. The Baltic Dry Index (BDI), compiled daily by the London-based Baltic Exchange, provides an assessment of the price of moving major raw materials by sea, including grain. The BDI was quoted at 702 […] Read more
Ocean freight rates pointed down, but well off year-ago lows
Russia takes on the world
Millions of acres in Russia had been waiting for someone to farm them. Now they’re bursting with grain
Reading Time: 6 minutes For many Canadian grain growers, this year’s weather concerns, disease pressure, high input costs, and low crop prices made it seem like we’ve already been facing the perfect storm. However, there is an even bigger threat on the horizon — Russia. In the first week of October, while most Canadian growers were still busy with […] Read more
U.S. grain exports slide after Trump win batters peso
Reading Time: 2 minutes Chicago | Reuters — Mexican demand for U.S. grain imports has slumped along with the country’s sinking peso as buyers withdrew from the market amid soaring costs in the week since Donald Trump won the U.S. presidential election, traders and industry analysts said. Corn prices in pesos jumped more than 10 per cent overnight for […] Read more
Cigi course highlights customer relations
Reliability of Canadian wheat is the theme of Cigi’s annual international program
Reading Time: 4 minutes They come from 16 different countries, but have one thing in common — Canadian wheat. Participants in the 49th annual International Grain Industry Program at the Canadian International Grains Institute, better known as Cigi, came to Canada to learn more about where the grain they buy comes from, how it is grown and how it […] Read more
Out-competed by Ukraine
Massive Ukrainian farms are producing grain and getting it into export position for $100/t less than in Canada
Reading Time: 6 minutes In the last issue of Country Guide, I wrote of my travels in China, and of how that trip made me question the true competitiveness of Canadian agriculture. Unfortunately, a new Australian study validates many of my concerns. “Ukraine: An emerging challenge for Australian wheat exports” is the third study from the Australian Export Grains […] Read more
U.S. grains: Strong exports support corn, soybeans
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures rose to their highest in nearly three weeks on Monday, supported by technical buying and signs of stronger-than-expected export demand, traders said. Overseas interest for U.S. supplies also supported corn futures, which rose to their highest since Feb. 5, while wheat weakened due to a firm dollar and […] Read more
Ocean freight index bobs up from recent floor
Reading Time: < 1 minute CNS Canada –– The Baltic Dry Index is finally starting to show some stability after setting fresh record lows on a near-daily basis for the past few months. The BDI set a record of 290 points on Feb. 10, but has since posted gains for the past four sessions, settling at 301 on Tuesday. It […] Read more
StatsCan stocks numbers confirm rapid export pace
Reading Time: 2 minutes CNS Canada — Canada’s grain and oilseed exports appear to be in fine form, based on the latest stocks figures on Thursday morning from Statistics Canada. Stocks of wheat, canola and oats are all down compared to last year’s. In wheat’s case, there were roughly five million fewer tonnes in farmers’ bins at the end […] Read more
Lower loonie helps farmers, but only so much
Reading Time: < 1 minute CNS Canada — The slumping price of oil continues to weigh on the Canadian dollar, while at the same time providing a boost to Canadian grain prices. Out-of-country buyers tend to more attracted to Canadian grain and wheat when the loonie is low, as they can get more product for their money. However, one market […] Read more
Devalued Argentine peso seen spurring grain exports
Reading Time: 2 minutes Buenos Aires | Reuters — The currency devaluation set to kick off in Argentina on Thursday is expected to pump millions of tonnes of pent-up grains supply into the international market at a time when the world is already seeing record stockpiles. For the first time since 2011, Argentines have full access to U.S. dollars […] Read more
A message from April Stewart, Country Guide's Associate Editor
