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Crops, Markets

USDA’s June WASDE report brings few notable changes

Canadian wheat harvest expectation unchanged

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MarketsFarm — Very few major changes were made in the latest edition of the world agriculture supply and demand estimates (WASDE) published Friday by the U.S. Department of Agriculture. For the 2023-24 crop year, USDA pegged total domestic wheat production at 1.665 billion bushels, slightly higher than the 1.659 billion in the department’s May estimates.
File photo of grilled pork intestine on skewers at a street food stall in the Philippines. (Junpinzon/iStock/Getty Images)

Philippines to host Canada’s Indo-Pacific ag office

AAFC/CFIA base to be set up in Manila, Bibeau says

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Canada’s agriculture department and food safety agency will carry out their part of the federal government’s Indo-Pacific strategy from a new office in Manila, Philippines. Federal Agriculture Minister Marie-Claude Bibeau announced the office’s location Wednesday in Ottawa during a meeting with the Canadian Agri-Food Trade Alliance (CAFTA), which represents Canada’s export-dependent ag commodity groups on
“The overall economy to me is going to be slowing down. It’s just a matter of when and the extent of it.” – J.P. Gervais.
News

With crop in the ground, keep an eagle eye on cost of production: management specialist

With crop in the ground, keep an eagle eye on cost of production: management specialist

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Canadian farmers may have received more for what they sold last year, but they paid a pretty penny to get it to market. It showed in their profit margins. Overall farm income fell by nearly 10 per cent in 2022, according to a recent report from Statistics Canada. Canadian farmers’ realized net income — the difference between cash
Figure 1: Seeding Progression in 2023 Compared to Previous Years.
Crop Report, Crops, Weather

Seeding in Manitoba nearly complete, hot weather sees heat stress in livestock

Manitoba Crop Report: Issue 4 (week 23)

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Weekly provincial summary  Precipitation was variable across agro–Manitoba from May 29 to June 4 with values ranging from 0 to 57.1 mm. Isolated storms brought significant rainfall to areas in the Eastern region, parts of the Interlake, and parts of the Northwest. Teulon (57.1 mm) received the most precipitation in the past seven days. Climate
(Dave Bedard photo)
Crops, Markets

Fund traders add to bearish bets in canola

Funds also net short in MGEX and CBOT wheat, corn

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MarketsFarm — Speculative fund traders added to their net short position in canola during the week ended May 30, putting on more bearish bets while also liquidating some previous longs, according to the latest Commitments of Traders report from the U.S. Commodity Futures Trading Commission (CFTC). As of May 30, the net managed money short
Grain Markets, Markets

Wheat crops look greener beyond North America’s fence

Expert's Radar: Longer-range Prairie weather outlooks suggest more hot and dry

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In the microclimate of my Winnipeg yard, there are some sunny spots that are better for growing tomatoes and shadier areas where lettuce thrives. There’s one section around the compost bin overrun with raspberries that could use some trimming, but the fruit pairs well with the rhubarb along the fence. The garden is mostly in,
Photo: File
Crops, Markets, Weather

Repeat of record Australian wheat, canola crops unlikely

ABARES expects 2023-24 crop down on year

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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).
If sufficient rain doesn’t reach newly seeded Prairie crops in a timely fashion, canola futures may finally break higher.
Grain Markets, Markets

A short but tough week for canola

Another year of tight canola stocks predicted

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There wasn’t much to prop up canola values on ICE futures over the shortened week of May 23. As of May 25, the two most actively traded contracts, old-crop July and new-crop November, fell back by $11.20 and $14.40 per tonne respectively. That’s despite the former poking its head above the psychological level of $700/tonne

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