Reading Time: 2 minutes Chicago | Reuters — Chicago corn futures hit their lowest price since August on Thursday on expectations that the El Nino climate phenomenon could boost U.S. crops and concerns about rising interest rates. La Nina has ended, the National Weather Service’s Climate Prediction Center said on Thursday, and El Niño could possibly form during summer […] Read more
U.S. grains: Chicago corn dampened by prediction of El Nino rain
Black Sea export deal hopes drag wheat to 18-month low
‘Normal’ spring ahead for most of the Prairies
Below-normal rains expected for southern Alberta, western Saskatchewan
Reading Time: < 1 minute MarketsFarm — Canada’s Prairies are looking at normal temperatures over the next month to three months, according to Environment and Climate Change Canada (ECCC). The federal department on Tuesday issued its temperature and precipitation probabilistic forecasts, which also called for normal precipitation for most of the region. “The forecast is really neutral for the Prairies, […] Read more
Nova Scotia to bridge Fiona funding gap for farmers
Provincial program offering up to $400K per farm
Reading Time: 2 minutes Nova Scotia farmers who didn’t qualify for federal disaster financial assistance (DFA) in the wake of Hurricane Fiona last September may be able to get in on a new provincial program instead. The province on Thursday announced $3 million for what it calls the Fiona Agriculture Response Gap Funding program, offering up to $400,000 for […] Read more
Absence of issues leads to January record for grain movement
CN, CP so far see 'calamity-free' 2022-23
Reading Time: 2 minutes MarketsFarm — So far this winter grain movement in Canada has yet to incur few — if any — major problems that have stymied rail shipments, according to Mark Hemmes, president of Quorum Corp., which tracks rail movement in Canada. Canadian Pacific Railway and Canadian National Railway (CP, CN) have been doing good jobs during […] Read more
Argentina soybean crop smaller than expected, USDA attaché says
Reading Time: < 1 minute MarketsFarm — Argentina’s 2022-23 soybean crop is likely much smaller than official projections as high temperatures and a lack of moisture cut into yields, according to an update from the U.S. Department of Agriculture’s Buenos Aires attaché. The USDA post from the South American country pegged the soybean crop at only 36 million tonnes, which […] Read more
CBOT weekly outlook: Weather outweighs U.S. Fed rate hike announcement
'People are returning to the Argentine situation'
Reading Time: 2 minutes MarketsFarm — Week-long rallies for grain futures on the Chicago Board of Trade (CBOT) were disrupted by the U.S. Federal Reserve’s latest key interest rate announcement on Wednesday. The Fed revealed it is raising its key interest rate by 25 basis points in its ongoing fight against inflation. While the central bank acknowledged inflation is […] Read more
U.S. grains: Chicago wheat, corn climb after weather pressure
Investor optimism on economy helps underpin grains
Reading Time: 2 minutes Chicago | Reuters — Chicago wheat and corn futures firmed on Tuesday, supported by investor optimism after easing a day earlier on precipitation in both Argentina and the U.S. Plains. Soybean futures began the day firmer but failed to maintain support as forecasts in South America call for more rain. The most-active wheat contract on […] Read more
Prairies’ warmer spell to be usurped by arctic front
Reading Time: < 1 minute MarketsFarm — While the Prairies have so far this month experienced rather non-January-like temperatures, a cold front coming south from the Arctic will soon descend on the region, according to Scott Kehler, president and chief scientist of Weatherlogics in Winnipeg. “What we are seeing is a big change in the weather pattern. For most of […] Read more
U.S. grains: Soybeans fall as rain expected to aid Argentine crop
Snow in U.S. Plains pressures wheat
Reading Time: 2 minutes Chicago | Reuters — Chicago soybean futures dropped on Monday for a fourth consecutive session as rainfall in Argentina’s parched growing areas diminished concerns over crop damage. Wheat fell to nearly 16-month lows as snow and rain across parts of the U.S. Great Plains brought needed moisture to winter wheat crops, while corn followed wheat […] Read more
Storms to bring rain to parched Argentine fields next week, grains exchange says
Drought has limited soy, corn planting
Reading Time: < 1 minute Reuters — A storm front should bring moderate to abundant rainfall across most of Argentina’s key agricultural area over the next week, the Buenos Aires grains exchange said on Thursday, which could help farmers plant their fields after a historic drought. Lack of rainfall in Argentina, the world’s largest exporter of soybean oil and meal […] Read more
A message from April Stewart, Country Guide's Associate Editor
