MarketsFarm — Farmers in the U.S. could grow a record-large soybean crop in 2022, according to early predictions from the U.S. Department of Agriculture released at their annual Agricultural Outlook Forum (AOF) on Thursday. The government agency forecast soybean plantings in the country at 88 million acres, which would be up by 800,000 from the […] Read more
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Early USDA forecast points to record-large 2022 soybean crop
Adjustments minor in latest AAFC crop balance sheets
MarketsFarm — Only minor adjustments to the old- and new-crop balance sheets were reported by Agriculture and Agri-Food Canada in their February supply/demand report, released Friday. New-crop production estimates were left unchanged for all of the major grains, oilseeds and pulses, with a return to average yields across the Prairies expected to lead to increased […] Read more
World soybean output, stocks estimates chopped
MarketsFarm — Downward revisions to soybean numbers stand out the most in February’s grain market report from the International Grains Council (IGC). Otherwise, the monthly estimates have minor alterations. The IGC cut its forecast on 2021-22 global soybean production by four per cent from its January report, bringing its projection to 353.1 million tonnes. The […] Read more
CBOT weekly outlook: More adjustments expected after lacklustre USDA report
MarketsFarm — Updated supply/demand estimates from the U.S. Department of Agriculture on Wednesday included only minor revisions, with the lacklustre report doing little to move the market. While South American production numbers were revised lower, further downward revisions are likely in subsequent reports, according to a market analyst. “We were a little surprised the USDA […] Read more
U.S. grains: Corn, soy futures set eight-month highs
USDA lowers South America corn, soy crop estimates
Chicago | Reuters — Chicago Board of Trade (CBOT) soybean and corn futures set eight-month highs on Wednesday on concerns about the risk for more unfavorable crop weather in drought-stressed growing areas of South America, traders said. The U.S. Department of Agriculture, in a monthly crop report, pegged Brazil’s soy crop at 134 million tonnes, […] Read more
StatsCan confirms tight grain and oilseed stocks
Canadian corn stocks up on year
MarketsFarm — Canada’s tight supplies of canola, wheat and other crops following the 2021 Prairie drought received more confirmation from Statistics Canada with the release of updated stocks data on Tuesday. Canola stocks, as of Dec. 31, 2021, of 7.6 million tonnes were down 43 per cent from the previous year and the tightest since […] Read more
Pulse weekly outlook: Pulse stocks drop due to drought
MarketsFarm — Statistics Canada’s latest report on stocks of principal field crops clearly demonstrated how much of an effect last summer’s historic drought in Western Canada had on pulse crops. According to the report released Tuesday, last December’s total domestic stocks for dry peas, chickpeas, lentils and soybeans all declined from the year earlier. Those […] Read more
Pulse weekly outlook: Lentil prices decline, may shift in spring
MarketsFarm — Prices for Canadian lentils, along with other pulses in the country, have slightly declined since the start of 2022. However, one pulse buyer thinks the next few months can recharge the market. Lionel Ector, president of Diefenbaker Spice and Pulse at Elbow, Sask., explained that a good Australian lentil harvest in December has […] Read more
CBOT weekly outlook: ‘No fireworks’ in January USDA reports
MarketsFarm — Updated supply/demand data from the U.S. Department of Agriculture were slightly bearish for grains and relatively neutral for soybeans, although there were no real surprises, according to an analyst. “There were no fireworks out of this report,” said Terry Reilly of Futures International in Chicago. World numbers put some pressure on wheat futures, […] Read more
U.S. grains: Wheat futures fall on bigger-than-expected plantings, stocks
Winter wheat plantings exceed analysts' expectations; USDA also cuts corn, soybean crop estimates in South America
Chicago | Reuters — U.S. wheat futures extended losses on Wednesday after the U.S. Department of Agriculture projected that domestic farmers planted more acres than traders anticipated. Larger-than-expected USDA estimates for wheat inventories added pressure on the market, analysts said, after supply concerns drove Chicago Board of Trade futures prices to nine-year highs in November. […] Read more
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