MarketsFarm — Feed grain prices in Western Canada have been strong lately, as old-crop supplies reach seasonal lows. “We’re getting to the bottom of old-crop stocks,” said Allen Pirness of Market Place Commodities in Lethbridge. However, he noted, growing conditions on the Prairies have been favourable, with no indication of a “drought-induced early harvest.” Old-crop […] Read more
Feed weekly outlook: Lower stocks support grain prices
Corn still 'competitively' priced
Ocean freight rate index moving higher
MarketsFarm — Ocean freight rates have shown steady gains over the past month, rising to some of their highest levels of 2020 as world economies show signs of recovery amid the COVID-19 pandemic. The Baltic Dry Index (BDI), a major indicator of shipping rates, has moved higher for 12 straight sessions, hitting 973 points on […] Read more
Grain exports continue strong out of Thunder Bay
COVID-19 leads to increased demand, reduced oil traffic by rail
MarketsFarm — The Port of Thunder Bay reported another strong grain handling month in May, as more than 1.1 million tonnes of Canadian grain and oilseeds moved through the harbour on the northern shores of Lake Superior during the month. Increased demand from many countries stockpiling grain amidst the global COVID-19 pandemic was cited as […] Read more
India reduces tariffs on lentils
Reduction set for all lentil imports except from U.S.
MarketsFarm — India is temporarily reducing import tariffs on lentils originating from most countries. The India government’s Central Board of Indirect Taxes and Customs on Tuesday posted “Notice 26/2020-Customs,” which lowers import taxes on most lentils entering the country, from 30 per cent to 10 per cent. The reduction, which takes immediate effect, runs until […] Read more
Canola supplies in commercial pipeline tighten
MarketsFarm — Canola supplies in the commercial pipeline fell below a million tonnes for the first time in more than seven months, according to the latest Canadian Grain Commission data, amid solid exports and a slowdown in farmer deliveries. Total visible canola supplies of 815,200 tonnes, as of May 24, were down 24 per cent […] Read more
Farmer deliveries well above average in April
MarketsFarm — Farmer deliveries of major grains into the Canadian commercial pipeline were up substantially in April, hitting their third-highest monthly total on record, according to updated data Statistics Canada released Monday. Farmers in April delivered 5.868 million tonnes of major grains, about a million tonnes above the monthly average during the 2019-20 crop-year-to-date, and […] Read more
Thunder Bay sees increased port traffic to start season
MarketsFarm — The Port of Thunder Bay reports “a surge in grain throughput” as the global COVID-19 pandemic has led to tight grain supplies in some countries and an increase in demand. Grain moved through Thunder Bay, on the northern shore of Lake Superior, is loaded onto “laker” vessels that transport to North American destinations […] Read more
Prairie cash wheat: Bids mixed
MarketsFarm — Wheat bids in Western Canada were mixed during the week ended Friday, with some gains observed in Canada Western Red Spring (CWRS) wheat, and a mixed tone for Canada Prairie Spring Red (CPSR). Durum (CWAD) saw small losses. Average CWRS (13.5 per cent protein) wheat prices were steady to up by $4 per […] Read more
Demand may encourage more red lentil acres: AGT
MarketsFarm — Improving lentil prices over the past month may encourage more acres of the pulse crop in Western Canada this spring, according to an industry official, as seeding is set to start within the next few weeks. “With the recent March demand surge, mostly due to COVID-19, pulse prices have increased sending a signal […] Read more
Pulse weekly outlook: Turkey may see larger red lentil crop
MarketsFarm — Turkey is expecting to see an increase in lentil production in 2020, according to a processor in the country. White bean production is also expected to rise, although chickpea production could be down slightly on the year. Fethi Sonmez, CEO of Turkey-based Armada Foods, expects to see red lentil production in the country […] Read more
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