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MarketsFarm -- As the International Grains Council (IGC) raised its estimate for total world grain production in 2023-24, its forecast on corn and soybeans were increased as well. Meanwhile, production estimates for wheat were held steady. The London-based IGC issued its latest supply and demand report on Thursday. World grain production was bumped up by[...]

MarketsFarm -- As the 2022-23 crop year in Kazakhstan begins to wind down, the U.S. Department of Agriculture (USDA) attaché in the country's capital of Astana estimated its wheat production at 16.4 million tonnes. Should that forecast hold, the attaché's report noted it would be the largest wheat harvest since 2017-18. However, going into the[...]

MarketsFarm -- After growing record-large wheat and canola crops in 2022-23, Australia is expected to see a significant drop in production in 2023-24 as developing El Nino weather patterns will likely cut rainfall through the growing season, according to the latest crop report from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES).[...]

MarketsFarm -- Grain shipments through the Port of Thunder Bay are running well behind normal through the first two months of the 2022 shipping season, according to a release from the port. However, potash movement through the port is up considerably, with inbound shipments of general cargo also strong. Grain shipments through the end of[...]

MarketsFarm -- With the rapeseed crop in the United Kingdom estimated at 66 per cent good to excellent, the U.S. Department of Agriculture attaché in London, forecast production for 2023-24 to be 1.38 million tonnes. That would make for a 1.4 per cent increase over the 2022-23 crop. While the attaché pegged planted and harvest[...]

MarketsFarm -- There’s to be a small increase in palm oil production in Indonesia in 2022-23, according the U.S. Department of Agriculture’s attaché in Jakarta. The attaché pegged palm oil output to rise by 1.1 per cent at 46 million tonnes due to favourable weather and higher prices for producers. Also, the attaché revised 2021-22[...]

MarketsFarm -- Statistics Canada (StatCan) reported that 2022 had the smallest domestic canola crush for a calendar year since 2017. As well, 2022 marked the smallest canola oil production in five years and the least amount of canola meal produced in four years. The sharp reduction of canola being crushed was due to the 2021[...]

MarketsFarm -- Wheat futures on the Chicago Board of Trade (CBOT) hit multi-month lows, which put pressure on Western Canadian wheat bids, during the week ended Thursday. Despite tighter wheat supplies in the U.S. and worldwide compared to last year, as well as the ongoing Russian invasion of Ukraine, wheat futures reached depths which weren’t[...]

MarketsFarm -- There was very little in the way of changes in the November supply and demand report from the International Grain Council (IGC). The most notable alteration made by the London-based global organization was its four million-tonne reduction to 2022-23 wheat ending stocks, now at 282 million tonnes. The IGC lowered exports from 70[...]

MarketsFarm -- Canada is expected to see a 30 per cent increase in grain production in 2022-23, according to estimates from the U.S. Department of Agriculture's Foreign Agricultural Service post in Ottawa. Expectations for improved yields for Prairie grain crops after the 2021-22 drought accounted for much of the projected increase, although USDA also cautioned[...]