Canadian wheat stocks at the end of 2023 were considerably tighter compared to the previous year, with oats, corn and pulse crops also seeing supply reductions, according to the latest stocks report from Statistics Canada, released Feb. 8, 2024. However, canola, barley and soybean stocks as of Dec. 31, 2023, were higher compared to the previous year.
Less Canadian wheat, more canola on hand to end 2023: StatCan
Some had anticipated even larger on-farm canola stocks, given slower export pace
Funds still sitting on large net short position in canola
Soybeans' net short position increased by about 5,000 contracts
The large net short position in canola futures held relatively steady during the week ended Jan. 30, with speculative traders making only minor adjustments, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Prairie feed market remains under pressure
U.S. corn imports adding to lack of demand for domestic barley
Feed grain markets in Western Canada remain under pressure, with end users well covered and farmers still sitting on large amounts of unpriced grain.
St. Lawrence Seaway sees increased tonnage in 2023
The seaway saw the longest scheduled shipping season in history
Cargo movement through the St. Lawrence Seaway was up by more than 3.4 per cent in 2023 compared to the previous year, with nearly 38 million tonnes of cargo moved through the binational system, according to a joint report from the Canadian St. Lawrence Seaway Management Corporation (SLMC) and the United States Great Lakes St. Lawrence Development Corporation (GLS).
Warm seasonal outlook across country
Precipitation expected to be normal across most of Canada
Warmer than normal temperatures are expected to continue across all of Canada through the next three months, according to the latest long-range seasonal forecast from Environment and Climate Change Canada, released Jan. 31.
India looking at large lentil crop, but pulses down overall
Delayed onset of northeast monsoon slowed harvests, shortened planting window
India may be looking at a record large red lentil crop in 2023/24, although poor monsoon rains are expected to cut into total pulse area and production, according to reports out of the country.
Large fund short position in canola edges lower
Net short position in soybeans grew to its largest level in nearly four years
Managed money fund traders only made small adjustments to their large net short position in canola futures during the week ended Jan. 23, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
ICE canola weekly outlook: Market stabilizing, but for how long?
Domestic crushers running at full capacity but export demand lacking
ICE Futures canola contracts continued to show some modest strength during the week ended Jan. 24, as the market stabilized above the lows hit earlier in the month. However, whether the uptrend continues or canola retreats to fresh lows remains to be seen.
Only minor acreage shifts expected for most Canadian crops in 2024
Major pulse crop acres expected to rise; canola, wheat expected to dip slightly
Early planting estimates from Agriculture and Agri-Food Canada called for only minor adjustments to most major crops grown in the country in 2024, with reductions in wheat, canola and barley acres, and increases in oats and pulses.
Early signs point to increased crop production in 2024/25: AAFC
Rotation, moisture, expected prices, costs among main factors expected in seeding decisions
A return to trend yields should see an increase in production for most of the major crops grown in Canada in the upcoming 2024/25 (Aug/Jul) marketing year, according to the first outlook for the season from Agriculture and Agri-Food Canada released Jan. 22.
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