Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts were stronger Wednesday, hitting multi-year highs for three consecutive days. The nearby January contract closed at $602.90 per tonne on Wednesday, gaining nearly $10 since Friday’s close of $593.60. Ken Ball of PI Financial in Winnipeg said canola is expected to go higher in order to “kill off some […] Read more
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ICE weekly outlook: Canola holds over $600
CBOT weekly outlook: Some surprises in USDA’s WASDE
Reading Time: 2 minutes MarketsFarm — The U.S. Department of Agriculture has thrown a few curveballs in an otherwise mundane supply-and-demand report issued Thursday, according to broker Ryan Ettner of Allendale Inc. at McHenry, Ill. Although USDA, in its December world agricultural supply and demand estimates (WASDE), lowered soybean ending stocks for the 2020-21 marketing year, the cut wasn’t […] Read more
Grain, oilseed exports well ahead of year-ago
Chinese demand up substantially for Canada's crops
Reading Time: < 1 minute MarketsFarm — Canadian grain exports continue to run at a very solid pace, with canola, wheat and barley movement-to-date all up substantially on the year. Total exports of Canada’s major grains and oilseeds as of Nov. 29 came in at 18.9 million tonnes, according to Canadian Grain Commission (CGC) data. That’s up by nearly five […] Read more
Thunder Bay port on pace for largest season in over 20 years
Reading Time: < 1 minute MarketsFarm — Shipping activity through the Port of Thunder Bay remained strong during November, with just over a million tonnes of grain moving through the facility on the northern shore of Lake Superior. Increased demand for Canadian grain in Europe, the Middle East and Africa has led the port to a 20-year high for cargo […] Read more
Canada’s canola harvest smallest in five years
Wheat crop a bin-buster, StatsCan report finds
Reading Time: < 1 minute Winnipeg | Reuters — Canadian farmers produced the smallest canola crop in five years, but the largest wheat output since 2013, Statistics Canada said in its final harvest estimate of the year. Canola production looked set to reach 18.7 million tonnes, down 4.5 per cent from last year and below trade expectations. It was a […] Read more
Expansion underway on Brandon fertilizer terminal
More storage to be added at three-year-old facility
Reading Time: 2 minutes Federated Co-operatives (FCL) has started expansion work at its next-to-new fertilizer terminal in western Manitoba, to boost its capacity by almost a third. FCL announced Monday it has budgeted $5 million to add 9,000 tonnes of capacity at the Co-op Fertilizer Terminal at Brandon, bringing its maximum storage to 36,500 tonnes. Work began at the […] Read more
Pulse weekly outlook: Canada’s exports solid through first quarter
Reading Time: < 1 minute MarketsFarm — Canadian pulse exports were leaving at the country at a solid pace through the first three months of the 2020-21 marketing year, according to the latest Canadian Grain Commission (CGC) monthly data. Canada exported 343,000 tonnes of peas in October, taking the 2020-21 year-to-date total to 1.136 million tonnes. That’s up by about […] Read more
StatsCan report to provide clarity on 2020 crop production
Reading Time: 2 minutes MarketsFarm — Market participants and producers will be looking to Statistics Canada’s principal field crop report, due out Thursday, for clarity regarding 2020 crop yields. “We’re looking to see how severely the heat damaged the crop, and how yield estimates were tempered later in the growing season,” said Jerry Klassen, an analyst in Winnipeg. Klassen […] Read more
October crush numbers up, canola record set
Reading Time: < 1 minute MarketsFarm — Canadian oilseed processors crushed a record amount of canola during October 2020, according to the latest data from Statistics Canada. Increases were reported throughout the canola and soybean crushes when comparing this October with October 2019. October 2020 saw 931,060 tonnes of canola crushed, which bested the previous record of 899,331 tonnes set […] Read more
Flax facing tightening supplies
Reading Time: 2 minutes MarketsFarm — Solid export demand has pushed Canadian flax prices up sharply over the past month, with the market working to ration demand amid expectations for tightening supplies. The flax market in general is “just gone crazy. We’re up 50 per cent since the start of harvest,” Scott Shiels of Grain Millers Canada at Yorkton, […] Read more
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