Statistics Canada released its Dec. 31 stocks report on Feb. 8. Ontario on-farm wheat stocks were lower than anticipated. The year-over-year increase in wheat production resulted in larger farmer selling. Ontario on-farm corn stocks as of Dec. 31, 2023 were down nearly 600,000 tonnes from Dec. 31, 2022. This will be supportive for the Ontario […] Read more
Tag Archives grain markets — page 7
Canada, U.S. soybeans face reduced export demand
Prices are at a premium compared to product from South America
World wheat supplies may recover in 2024
Some analysts expect a rebound but others aren’t as confident
Glacier FarmMedia – Gro Intelligence is forecasting a rebound in global wheat supplies in 2024 after multi-year declines. World stocks of the crop, excluding China, have declined for four straight years and inventories are at their lowest level in 15 years. Why it matters: World wheat demand affects pricing for the winter wheat grown by […] Read more
Seasonal high corn demand expected in spring
The market is currently functioning to encourage demand; U.S. market will determine price next winter
Ontario wheat, corn and soybean prices consolidated during the first half of February. Export demand for Ontario corn and soybeans moves through a seasonal low during winter. At the same time, domestic soybean crushers have their nearby requirements covered. Feedlots and ethanol plants also have sufficient corn ownership. This environment causes spreads in the cash […] Read more
The ripple effects from China’s declaration of self-sufficiency
The country’s decision to limit soybeans in feed rations could be challenging
China has long relied on imported food and feed ingredients for its livestock herds and poultry flocks, but there are signs that could change. A Jan. 3 Feed & Grain article detailed a Chinese policy pledge to reduce soybeans in feed rations. According to the report, soybean meal usage for January to November of 2023 […] Read more
Bump in 2023 U.S. corn yields surprises industry
On-farm stocks will be historically tight due to export demand
Ontario wheat, corn and soybean prices dropped 30 to 50 cents a bushel throughout January. Commercial grain companies in Ontario are holding larger stocks of the three main crops and have sufficient supplies to satisfy their nearby demand. At the same time, export demand moves through a seasonal low from January through March. The freeze […] Read more
Geopolitics at play in world wheat markets
A smaller Australian crop and depleting Russian supplies could affect wheat prices in coming months
Ontario wheat, corn and soybean prices came under pressure in early January due to steady farmer selling and a stronger Canadian dollar. The freeze-up of the lake system tends to result in basis deterioration for commodities moving east. Producer selling will ease later in winter and export demand will improve for all grains and oilseeds. […] Read more
Ukraine’s Dec Black Sea food exports top U.N.-brokered deal at its peak
Kyiv believes it has managed to dislodge Russian forces from the western part of the Black Sea
Ukraine exported 4.8 million metric tons of food via its Black Sea corridor in December, surpassing the maximum monthly volume exported under a previous U.N.-brokered grain deal, brokers said on Wednesday.
Global crop ending stocks for soybeans to drop in 2023-24
Crop planting problems in Brazil have generated concerns about total production in the new year
Statistics Canada released its final crop production estimates on Dec. 4. Corn production came in below expectations and below the September model-based survey. The adverse weather during harvest resulted in yield drag. Corn supplies will be tighter than expected in the latter half of the crop year. Quick lookSoybeans: 2023 production was higher than the […] Read more
South American soybean uncertainty inhibits global market forecast
Production estimates are all over the map and initial production forecasts are shrinking
Ontario farmers had completed the soybean harvest and corn progress stood at 90 per cent complete as of Nov. 28. Adverse weather delayed harvest for the final portion of the corn crop. Farmer selling has subsided over the past two weeks. Commercial stocks of corn and soybeans are at seasonal highs; therefore basis levels remain […] Read more
Delayed Ontario corn harvest lowers yield estimates
Condition of Brazilian corn crop watched for its effect on market prices
The Ontario soybean harvest was about 85 per cent complete and corn progress stood at 70 per cent as of Nov. 14. Some areas had a significant amount of corn out in the field, but given weather forecasts, harvest should be wrapped up by Nov. 28. Quick lookSoybeans: Weather problems likely to affect Brazilian soybeans, […] Read more
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