Reading Time: 2 minutes Reuters — A United Nations source on Wednesday said they have reasons to be “cautiously optimistic” on the renewal of a Black Sea grains export agreement, which is set to roll over on Saturday unless there are objections. The U.N.-backed agreement on July 22 allowed grain shipments to resume from certain Ukrainian ports on the […] Read more
Reasons for optimism seen on renewal for Ukraine grain deal
Deal set to roll over on Saturday
ICE weekly outlook: Trader sees canola topping $900 mark soon
Crush margins at 'very, very extreme levels'
Reading Time: 2 minutes MarketsFarm — Despite surpassing the $900 per tonne mark at times during the week ended Wednesday, ICE Futures’ January canola contract never settled above that psychological level. Rising prices prior to the weekend later gave away to selling pressure after the weekend due to a correction in vegetable oil prices, according to broker Ken Ball […] Read more
Alberta issues final crop report for year
Harvest over 98 per cent done by region and crop type
Reading Time: 2 minutes MarketsFarm –– For the second year in a row the Alberta harvest wrapped up well ahead of the five-year average. With a gain of three points for the week ended Tuesday, Alberta Agriculture, Forestry and Rural Economic Development (AFRED) pegged the combining of major crops at 99.2 per cent complete. That’s 22 and a half […] Read more
Saskatchewan’s harvest 90 per cent complete
Reading Time: 2 minutes MarketsFarm — Excellent weather over the week ended Monday saw Saskatchewan farmers make good harvest progress, with 90 per cent of the province’s crops off the field, according to the latest provincial report. Harvest progress was up from 81 per cent the previous week — and from the five-year average of 82 per cent. While […] Read more
ICE weekly outlook: Weather at forefront for canola futures
Reading Time: < 1 minute MarketsFarm – Canola contracts on the ICE Futures platform saw some large moves over the past week, initially moving higher in sympathy with the United States soy complex before taking back most of those gains as both markets reacted to shifting weather forecasts. Showers continue to pop up across the U.S. Midwest, despite the longer-range […] Read more
Ukraine, Russia sign deal to reopen grain export ports
Russia says it 'won't take advantage' of de-mining of ports
Reading Time: 4 minutes Istanbul/Kyiv | Reuters — Russia and Ukraine signed a landmark deal on Friday to reopen Ukrainian Black Sea ports for grain exports, raising hopes that an international food crisis aggravated by the Russian invasion can be eased. The accord crowned two months of talks brokered by the United Nations and Turkey, a NATO member that […] Read more
Saskatchewan crops advancing quickly
Reading Time: 2 minutes MarketsFarm — Hot and humid conditions saw crops in Saskatchewan advance quickly during the week ended Monday, according to the latest provincial crop report — although the humidity has slowed haying. When humidity is high, cutting hay becomes more challenging and hay that is cut does not dry down as quickly, which can result in […] Read more
ICE weekly outlook: Don’t bank on canola prices jumping higher
Reading Time: < 1 minute MarketsFarm — As canola remained steadfast in its following of Chicago soyoil, analyst Wayne Palmer of Exceed Grain stressed that the days of higher prices have very likely passed. “Farmers are tremendously undersold. This latest sell off took them totally by surprise,” he said. After August soyoil made some gains over the last week, it […] Read more
Ukraine grain exports deal to be signed next week, Turkey says
Reading Time: 2 minutes Istanbul/United Nations | Reuters –– Russia, Ukraine, Turkey and the United Nations are due to sign a deal next week aimed at resuming Ukraine’s Black Sea grain exports, but U.N. chief Antonio Guterres warned there was still “a long way to go” before there would be peace talks to end the war. Turkish defence minister […] Read more
USDA attaché alters call on China’s ending stocks
Reading Time: 2 minutes MarketsFarm — Ahead of the July world supply and demand estimates from the U.S. Department of Agriculture (USDA), due out Tuesday, the department’s attaché in Beijing put forth its forecast changes. The attaché lowered ending stocks for China’s new-crop soybeans and rapeseed, while it increased the carryover for new-crop corn and wheat, in reports released […] Read more
A message from April Stewart, Country Guide's Associate Editor
