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
ICE weekly outlook: Don’t bank on canola prices jumping higher
Prairie cash wheat: Prices take a hard hit
MarketsFarm — Wheat prices on the Canadian Prairies were down hard for the week ended Thursday. Canada Western Red Spring (CWRS), Canada Prairie Spring Red (CPSR) and Canada Western Amber Durum (CWAD) wheats incurred sharp losses as prices tumbled in U.S. markets. Additional pressure came from Statistics Canada’s report on planting intentions for 2022-23. The […] Read more
Feed weekly outlook: Grain prices coming down
MarketsFarm — As futures prices fall back, those for feed have been following, according to Jenny Redshaw, a trader with Agfinity at Stony Plain, Alta. “There are lots of things going on,” she said, noting demand has been somewhat lacklustre. “The feedlots aren’t breaking down any doors,” she added. With prices down across the board […] Read more
Pulse weekly outlook: Acre intentions down for most pulses
MarketsFarm — Statistics Canada’s principal field crop areas report, released Tuesday, shows declines in most pulse crops compared to last year. Only lentils saw an increase, rising slightly by 0.4 per cent from 2021-22 to now 4.32 million. Meanwhile, dry peas fell 11.8 per cent at 3.37 million aces, with edible beans down 32.1 per […] Read more
Flea beetles an issue in parts of Saskatchewan
MarketsFarm — Delays to spring seeding in some regions of Saskatchewan, such as the northeast, have opened the door for infestations of flea beetles, according to provincial pest management specialist James Tansey. Canola crops that were planted later than normal are suffering from flea beetles, he said. Extremely late-seeded canola has been relatively free from […] Read more
Crop conditions in Alberta see remarkable turnaround
MarketsFarm – As the heydays of summer approach, Alberta reported that its crops were in good shape. The crop report placed all crops in the province at 75 per cent good to excellent, slightly above the five-year average. The rains throughout June were credited with the turnaround, but overall growth and development remained somewhat behind […] Read more
ICE weekly outlook: The larger picture behind drop in canola
MarketsFarm – While the declines in canola prices can be partially attributed to the lack of major weather concerns on the Canadian Prairies and the early development of this year’s crop, an analyst said the main reason is on a grander scale. “The major one is the overall drop in the commodity world. For instance, […] Read more
Alberta crops improve with rain
MarketsFarm – Drought conditions that devastated crops in Alberta last year and were poised to do the same this year are becoming something in the past, according to the province’s latest crop report. Recent rainfall has been wiping out any notion of drought in 2022 as soil moisture conditions continued to improve across the province. […] Read more
Shipping container issues make Canada uncompetitive
MarketsFarm – Even though harvest in Canada is months away, major issues with shipping by container out of the country needs to be resolved, according to Greg Northey, vice-president of corporate affairs for Pulse Canada and the spokesperson for the Coalition to Fix the Container Crunch. “The worry in the fall is if we have […] Read more
CBOT weekly outlook: Fears over soy scarcity now gone
MarketsFarm – Soyoil prices at the Chicago Board of Trade (CBOT) have been tumbling of late largely due to the markets no longer being afraid of already tight global supplies becoming scarcer, according to Sean Lusk of Walsh Commercial Hedging Services in Chicago, Ill. Lush explained that the South American soybean crop wasn’t as bountiful […] Read more
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