GFM Network News

Drought concerns persist, yield outlook sees downgrade

Manitoba Crop Report and Crop Weather report for July 27

Southwest Region A warmer week again, with daytime temperatures up to 27 to 31 C; daily averages around 20 C. Minimum overnight temperatures ranged from 5 to 11 C. Some good rainfall in most of the region early in the week, rainfall amounts from 3 to 56 mm. Crop growth has improved with rain, though

The Archer Daniels Midland Co. (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018.
 Photo: REUTERS/Brendan McDermid

ADM quarterly profit surges amid strong U.S. corn exports to China

Reuters – U.S. grain merchant Archer-Daniels-Midland Co on Tuesday reported quarterly profit leapt 52 percent due to strong exports and oilseed crushing margins. The bigger-than-expected earnings sent shares to a two-week high and extended a recovery from the COVID-19 pandemic, which last year hurt demand for the company’s ethanol and food products. Shares were up

Photo: File

U.S. livestock: CME live cattle top three-week high; feeder cattle set contract high

Chicago | Reuters – Chicago Mercantile Exchange live cattle futures topped a three-week high on Monday on expectations that supplies will tighten in the coming months, while feeder cattle set a contract high, traders said. The U.S. Department of Agriculture, in a monthly report issued after the markets closed on Friday, said 1.67 million cattle were

Brazil soy farmers get cash for rendering ‘environmental services’

Brazil soy farmers get cash for rendering ‘environmental services’

Reuters – Brazilian soy farmers are being paid for promoting sustainable agriculture, according to the organizers of a new initiative involving 55 growers in Maranhão and Mato Grosso states, in the heart of Brazil’s farm country. The program, which rewards producers for their “environmental services,” highlights mounting pressure on farmers and businesses to produce food

CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)

U.S. grains: Corn, soybeans lower on the week

Traders look at long-term weather; wheat flat

Chicago | Reuters — Chicago corn and soybean futures slipped on Friday, pressured by extended forecasts calling for cooler weather into August, though hot, dry weather in the coming week across the U.S. Midwest underpinned prices. Wheat ended lower as concerns over unfavorable weather in key exporting countries countered pressure from corn and soybeans. The

CBOT September 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and green lines). (Barchart)

U.S. grains: CBOT wheat snaps winning streak

Chicago corn, soybeans also fall

Chicago | Reuters — Chicago Board of Trade soft red winter wheat futures plunged 2.6 per cent on Thursday, snapping a six-session streak of gains as traders locked in profits from the rally. Soybean futures were down two per cent, with the latest weather forecasts showing that some timely rains will arrive in key growing

Andy Keen looks over his canola near Manitou on July 6. Hot, dry weather has caused canola to flower too early, harming its yield potential.

Grain markets remain volatile

Supply concerns have already led to price rationing

If there is one thing canola trading for the week ended July 15 proved, it’s that the drought across the Prairies remains a powerful influence on prices. The charts proved another thing as well: there’s a tremendous amount of volatility in the canola market. Prices rallied for six consecutive sessions from July 7 to 13,