MarketsFarm — Lower prices are expected to lead to a drop in Canadian chickpea acres in 2019, but the future is bright for the crop as new consumer markets gain popularity. Seeded acres for chickpeas almost quadrupled between 2017 and 2018, rising from 160,000 to 442,900, respectively. Since inventory from the 2018 growing season is […] Read more
Pulse weekly outlook: Chickpea prices remain low, future bright
Hay prices skyrocket as Prairie drought continues
MarketsFarm — Hay prices have continued to skyrocket across the Prairies as conditions remain dry enough that many hay growers won’t produce a first cut this spring. “We’ve had a tough start here,” said Darren Chapman, chair of the Manitoba Forage and Grassland Association. “We had a cold, dry spring with frost, so first cut […] Read more
Feed weekly outlook: Feed grain prices flagging
MarketsFarm — Feed grain prices have softened across the Prairies, as seeding is well under and many producers have the coverage they need until new crops begin to come off the field in August. Markets are fundamentally bearish right now, as farmers with enough coverage can wait until prices get even lower when new crop […] Read more
Pulse weekly outlook: Planted green, yellow peas lower prices
MarketsFarm — Green and yellow pea seeding is well underway across the Prairies, causing new-crop prices to slide marginally while spot prices hold firm. As Dale McManus, a broker with Johnston Grain at Welwyn, Sask., explained, seeded acres and new crop prices have an inverse relationship: as seeded acres rise, new crop prices fall. Producers […] Read more
B.C. longshoremen vote in favour of strike
MarketsFarm — Longshore workers at the Port of Vancouver have voted overwhelmingly in favour of a strike. Members of the International Longshore and Warehouse Union (ILWU) voted 98.4 per cent in favour of strike action against the member companies of the B.C. Maritime Employers Association (BCMEA), the union said Friday. In a letter to union […] Read more
B.C. longshoremen to take strike vote this week
MarketsFarm — The International Longshore and Warehouse Union (ILWU) is urging members at Canada’s West Coast ports to vote for a strike, as negotiations for a collective agreement have dragged on for over a year. The union members’ vote takes place Wednesday and Thursday (May 8-9). ILWU and the British Columbia Maritime Employers Association (BCMEA) […] Read more
CBOT weekly outlook: U.S./China deal awaited
MarketsFarm — The Chicago Board of Trade is carefully watching the prolonged trade drama between the U.S. and China and waiting to see if the two countries will reach an agreement in days to come. “Headlines are leading trade,” remarked Steve Georgy, president of Allendale Inc. at McHenry, Il. “Markets are revolving around China talk, […] Read more
Hemp acres expected to double due to crop versatility
MarketsFarm — Canada’s hemp acres are set to double in 2019, according to the most recent principal field crop acreage report from Statistics Canada. The hemp industry is experiencing somewhat of a boom as hemp products of all stripes enter mainstream consumer markets. “Health Canada is running at least double the number of hemp license […] Read more
Mustard acres to decrease, but yield outlook strong
MarketsFarm — The most recent principal field crop acreage report from Statistics Canada predicts mustard seed area will drop from approximately 500,000 acres to 400,000 in 2019, concentrated mainly in southwestern, south-central, and west-central Saskatchewan. Although fewer acres are expected to be seeded, prime mustard-growing areas in Saskatchewan and Alberta saw precipitation in recent weeks, […] Read more
Feed weekly outlook: Prices steady ahead of seeding
MarketsFarm — Feed grain prices have firmed up ahead of seeding, and producers are quick to make room in feed bins ahead of seeding. “New-crop price is significantly lower than old-crop, so at some point they’re going to converge,” said Allen Pirness, senior trader with Market Place Commodities in Lethbridge. Statistics Canada’s crop intentions report, […] Read more
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