MarketsFarm — The International Grains Council (IGC) released its monthly supply and demand report Thursday, projecting a six million-tonne increase in total global grain production at 2.289 billion tonnes in 2021-22. That change consisted of a seven million-tonne increase in global corn production, offset by a one million-tonne decrease in world wheat output. Soybean production […] Read more
Tag Archives statistics canada — page 12
Grains council tweaks numbers in latest supply and demand data
Statistics Canada yield estimates useful for market predictions
Hurricane Ida, good Canada and U.S. soybean crops factor into projections
Statistics Canada released its first yield and production estimate on Aug. 30. Satellite technology was used to model crop yields as of July 30 and the actual harvested area was based on historical averages. Winter wheat production came in at 2.6 million tonnes, which is the largest crop since 2016. Corn output could reach a […] Read more
Interview: Counting crops in advance
Reviewing the latest from StatsCan and USDA
Statistics Canada on Tuesday released new model-based estimates for the country’s principal field crops, projecting “substantial” yield declines for most of the major crops grown in Canada, due mainly to drought conditions across much of Western Canada during much of the growing season. The previous Friday, the U.S. Department of Agriculture released its latest world […] Read more
ICE weekly outlook: Canola remains rangebound
Trade predicts even smaller production
MarketsFarm — At least for the foreseeable future, ICE Futures canola is likely to remain rangebound, according to analyst David Derwin of PI Financial in Winnipeg. The November canola contract has support at $850 per tonne and when it bumps up to around $900 it’s quickly pulled back, he said. “Sideways is not very exciting, […] Read more
U.S. grains: Wheat firms on global supply cuts
Corn inches higher as U.S. crop ratings decline
Chicago | Reuters — Chicago wheat futures firmed two per cent on Tuesday, strengthened by global supply concerns amid strong demand, while a weaker U.S. dollar supported U.S. trade. Corn inched higher after a weekly decline in U.S crop conditions reported by the U.S. Agriculture Department (USDA). Soybeans traded both sides of even before easing […] Read more
Pulse weekly outlook: Small Canadian crops lead to marketing shift
MarketsFarm — Canadian pulse markets could see a ‘radical shift’ in the current crop year as drought conditions led to sharp reductions in pea and lentil production. Statistics Canada’s September principal field crop estimates, released Tuesday, and the previous report on Aug. 30 were determined by yield models using satellite imagery. MarketsFarm Pro analyst Mike […] Read more
Prairie crops downgraded in latest StatsCan estimates
Corn, soybean crops upsized from previous report
MarketsFarm — Drought conditions across Canada’s Prairies cut into yields throughout the region in 2021, with production of most of the major crops downgraded by Statistics Canada in updated crop estimates released Tuesday. Using satellite imagery, the government agency now sees total canola production for the 2021-22 crop year at 12.78 million tonnes, which compares […] Read more
Canada’s canola production likely to be cut further
MarketsFarm — Barely two weeks after Statistics Canada projected 2021-22 canola production to come in around 14.7 million tonnes, the U.S. Department of Agriculture forecast the Canadian oilseed crop to be about 14 million tonnes. Now, a few days after USDA’s supply and demand estimates, Statistics Canada is already set to update its Aug. 30 […] Read more
Canola ending stocks down on year, but beat expectations
StatsCan pegs barley ending stocks at record low
MarketsFarm — Canadian canola ending stocks were down sharply at the end of 2020-21 compared to the previous marketing year, but still came out well ahead of trade expectations. Many other crops also saw larger-than-expected carryout numbers in Statistics Canada’s principal field crop stocks report as of July 31, 2021, released Wednesday. According to MarketsFarm […] Read more
ICE weekly outlook: Canola market awaits harvests, USDA
MarketsFarm — Canola contracts on the ICE Futures platform drifted lower during the week ended Wednesday, although the market remains stuck in a sideways trading pattern overall as participants try to get a better handle on the size of this year’s crop. An upcoming supply/demand report from the U.S. Department of Agriculture also has the […] Read more
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