Reading Time: 2 minutes MarketsFarm — The Pro Farmer Midwest Crop Tour earlier this month brought attention to a potential reduction of corn yields in some areas of the U.S., causing a rally in prices. However, after crop conditions did not fall as expected, prices underwent a correction, according to one analyst. The U.S. Department of Agriculture (USDA), in […] Read more
CBOT weekly outlook: Harvest, crop conditions pressuring prices
Produce prices spike in flood-hit Pakistan as food crisis looms
Flooding wrecks crops, hampers logistics
Reading Time: 3 minutes Lahore | Reuters — Vegetable and fruit prices have soared in markets across Pakistan as devastating rains ruin crops and disrupt supplies, an early sign of how the worst floods in decades are creating food shortages at a time of financial crisis. Pakistan’s 220 million people are already facing rampant inflation, with consumer prices up […] Read more
Canadian crop production bounces back, StatCan reports
Wheat at higher end of trade projections
Reading Time: 3 minutes MarketsFarm — After 2021’s historic drought on the Prairies caused crop production to fall to historic lows, the 2022 harvest has mostly bounced back to pre-drought levels, according to Statistics Canada. StatCan on Monday released its July 2022 satellite image-based principal field crop production estimates, which confirmed analysts’ expectations that this year’s crop production would […] Read more
Greater crop production estimated prior to StatCan report
Extended time lag between survey, data's release criticized
Reading Time: 3 minutes MarketsFarm — Analysts are expecting Canadian crop production totals for the 2022-23 marketing year to be substantially higher compared to drought-stricken 2021-22, but still not enough to fully replenish supplies. Statistics Canada (StatCan) will publish its first satellite image model-based yield and production estimates for principal field crops on Monday. Traders and analysts are interested […] Read more
China’s farmers struggle to save crops as heatwave, drought drag on
Reading Time: 2 minutes Chongqing | Reuters — As the tinder-dry countryside along China’s Yangtze river basin withers under a heatwave that has lasted more than two months, veteran farmer Chen Xiaohua recalled the last severe drought to hit his crops more than 60 years ago. “This year is drier than 1960,” said Chen, 68, from his plot of […] Read more
Pulse weekly outlook: Chickpea harvest approaches amid low worldwide supplies
Reading Time: 2 minutes MarketsFarm — The harvest for Western Canada’s chickpea crop is about to begin and it comes at a time when worldwide supplies of the pulse are at a low point. Colin Young, manager of Mid-West Grain Ltd. at Moose Jaw, Sask., said there are varying chickpea yields in the western Prairie region, where most of […] Read more
Iqaluit declares state of emergency over water shortage
Reading Time: < 1 minute Ottawa | Reuters — The northern Canadian city of Iqaluit declared a state of emergency on Friday after scarce rain this year left water levels in the local Apex River at a four-decade low. Iqaluit warned it may not have enough water in its reservoir to sustain its population of about 7,800 when a freeze-up […] Read more
La Nina conditions to continue, but odds lower into winter
Reading Time: < 1 minute Reuters — Chances for La Niña are expected to gradually decrease from 86 per cent in the coming season to 60 per cent during December to February in 2022-23, a U.S. government weather forecaster said on Thursday. The La Niña weather pattern is characterized by unusually cold temperatures in the equatorial Pacific Ocean. According to […] Read more
ICE weekly outlook: Late canola crop hinges on weather
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market held within a narrow range during the week ended Wednesday, with weather conditions heading into harvest likely to dictate the eventual price direction over the next few weeks. “The key right now is the late state of the crop,” said Errol Anderson of ProMarket Communications in Calgary, noting […] Read more
U.S. grains: Corn, wheat futures extend gains on crop risks
Wheat market also weighs prospects for more Ukraine exports
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade corn and wheat futures rose on Wednesday, as hot, dry weather in parts of the U.S. and Europe kept attention on harvest risks, while soybeans settled lower after notching contract highs. Traders also adjusted positions ahead of the U.S. Department of Agriculture’s (USDA) monthly supply and demand […] Read more
A message from April Stewart, Country Guide's Associate Editor
