MarketsFarm — The International Grain Council (IGC) has revised its latest monthly forecast of global grain production down slightly. The IGC projected global production in 2020-21 to hit 2.218 billion tonnes its April 30 report, for a drop of five million tonnes from its March estimate. The reduction was due to the dry conditions in […] Read more
Tag Archives production — page 16
Global grain production to exceed 2.2 billion tonnes, IGC predicts
Pandemic to delay StatsCan’s agriculture reports
MarketsFarm — Farmers, commodity traders and market analysts will have to wait a while for agriculture-related reports from Statistics Canada in 2020. The main reason for the delay is the COVID-19 pandemic, said John Seay, an analyst with StatsCan’s agriculture, energy, environment and transportation statistics branch in Ottawa. “Given the COVID-19 outbreak, senior management is […] Read more
Global grain production to increase, IGC predicts
MarketsFarm — The International Grains Council (IGC) issued projections Thursday calling for a slight increase in total global grain production for the current marketing year and for 2020-21. The U.K.-based council forecast world production at 2.175 billion tonnes, which would be an increase of three million tonnes from its February report. The IGC said that’s […] Read more
USDA’s supply and demand report largely stands pat
MarketsFarm — Any changes in the latest monthly supply and demand report from the U.S. Department of Agriculture (USDA) on Tuesday were few and far in between when it came to corn, wheat and soybeans; what the markets largely expected. However, there were some small revisions to the department’s global projections. That meant USDA’s March […] Read more
U.S. grains: Soy, wheat, corn close lower after early gains
Traders focus on signs of tepid demand from China
Chicago | Reuters — U.S. soybean, corn and wheat futures fell on Friday, with all three commodities facing pressure after rising early in the session. Soybean futures hit their highest in more than three weeks after the U.S. Agriculture Department at its annual Outlook Forum projected domestic soybean ending stocks for the 2020-21 marketing year […] Read more
IGC calls for more wheat despite lowering global forecast
MarketsFarm — At close to 1.03 billion tonnes, there’s going to be more wheat in the world in 2019-20 than in the previous marketing year, according to the latest outlook from the International Grains Council (IGC). The London-based organization released its report on Jan. 23, in which it revised its previous forecast — but with […] Read more
Flax prices likely to remain flat
MarketsFarm — Although autumn snowfall limited the quality of a lot of Prairie flax, its price has remained flat, according to Brian Johnson of Johnson Seeds at Arborg, Man. While Johnson has seen some instances of No. 1 flax, he said most of what he’s seen has graded Nos. 2 and 3. “The premiums are […] Read more
Vietnam’s pork imports more than double amid swine fever outbreak
Hanoi | Reuters — Vietnam’s pork imports during the first 11 months of this year more than doubled to 110,000 tonnes, the ministry of finance said on Thursday, as the country’s pig herd has been battered by an outbreak of African swine fever. Since the disease was first detected in February, it has spread to […] Read more
Pulse weekly outlook: Balance sheet tightening
MarketsFarm — Canadian pea and lentil production failed to live up to earlier projections, according to the latest survey data from Statistics Canada. While both crops are still forecast to be above their year-ago levels, the tightening supply expectations should underpin prices. Canada’s 2019-20 lentil crop was pegged at 2.17 million tonnes in the government […] Read more
StatsCan report puts canola production at lowest since 2015
MarketsFarm — Data from Statistics Canada’s production of principal field crops report, released Friday morning, will likely be supportive of canola values, put pressure on barley, and keep wheat prices steady. In the report, canola production across Canada decreased by 8.3 per cent nationally to 18.6 million tonnes, compared to 2018 production volumes. The decreased […] Read more
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