Reading Time: 2 minutes MarketsFarm — As the 2022-23 crop year in Kazakhstan begins to wind down, the U.S. Department of Agriculture (USDA) attaché in the country’s capital of Astana estimated its wheat production at 16.4 million tonnes. Should that forecast hold, the attaché’s report noted it would be the largest wheat harvest since 2017-18. However, going into the […] Read more
Less wheat expected in Kazakhstan in 2023-24, despite same acres
Soil moisture loss expected in wheat-growing regions
India’s rapeseed output to be steady
El Nino may be a spoiler
Reading Time: 2 minutes MarketsFarm — Rapeseed production in India has been forecast to remain quite consistent, according to the U.S. Department of Agriculture (USDA) attaché in New Delhi. The attaché projected rapeseed production for 2023-24 to hold at 11.5 million tonnes, the same in 2022-23. USDA’s official numbers placed India as the world’s No. 4 producer of rapeseed, […] Read more
Argentina soybeans expected to go from horrible to great
El Nino expected to improve growing conditions
Reading Time: 2 minutes MarketsFarm — While Argentina is headed to one of its worst soybean harvests in decades, the U.S. Department of Agriculture (USDA) attaché in Buenos Aires projects a huge turnaround in 2023-24. Argentina is the world’s third-largest grower of soybeans — a fair amount less than Brazil and the U.S., but a lot more than other […] Read more
U.S. begins testing bird flu vaccines for poultry after record outbreak
Four vaccines to be tested
Reading Time: 2 minutes Chicago | Reuters — The U.S. government is testing four potential bird flu vaccines for poultry, officials said on Friday, after more than 58 million chickens, turkeys and other birds have died in the nation’s worst outbreak ever. The trials, conducted by the U.S. Department of Agriculture’s (USDA) Agricultural Research Service, are the first step […] 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
CBOT weekly outlook: Weather in focus for Chicago grains, oilseeds
Heavy snowpack remains in parts of northern Plains
Reading Time: < 1 minute MarketsFarm — All eyes in the Chicago grain and oilseed markets are focused on weather conditions as the South American harvest progresses and North American farmers begin seeding their next crop. The U.S. Department of Agriculture’s monthly supply/demand report (WASDE), released Tuesday, left ending stocks projections for both soybeans and corn in the country unchanged […] Read more
USDA stands pat on U.S. soybean, corn ending stocks
Soy, corn crop projections cut for Argentina
Reading Time: < 1 minute MarketsFarm — Projected ending stocks for soybeans and corn in the United States for the current marketing year were left unchanged by the U.S. Department of Agriculture in its latest monthly supply/demand report (WASDE) — coming as a surprise to market participants who had generally anticipated downward revisions to the carryout numbers. USDA left 2022-23 […] Read more
U.S. grains: Crop futures slide on disappointing export sales, improved weather
Traders adjust positions before Easter weekend
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade grain and soybean futures crumbled on Thursday on disappointing U.S. export sales and an improved weather outlook for U.S. spring plantings, analysts said. U.S. soybean export sales for 2022-23 were 155,300 tonnes for the week ended March 30, down 42 per cent from the prior four-week average, […] Read more
Saudi Arabia highly dependent on grain imports
Alfalfa more profitable for domestic growers
Reading Time: 2 minutes MarketsFarm — While Saudi Arabia is a giant among the oil-producing countries of the world, the desert kingdom does produce small amounts of grain. With a population that’s about one million less than Canada’s, Saudi Arabia is extremely dependent on importing its grain from overseas. The U.S. Department of Agriculture’s (USDA) attaché in Riyadh explained […] Read more
U.S. grains: Soybeans climb on supportive USDA data
Corn mixed; May wheat unchanged on day
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures rose 2.1 per cent on Friday, climbing back above US$15 a bushel for the first time since mid-March after the U.S. Department of Agriculture’s forecast for 2023 plantings and its March 1 soy stockpiles estimate both came in at the low end of trade expectations. Corn futures ended […] Read more
A message from April Stewart, Country Guide's Associate Editor
