The planted area for U.S. corn in 2024 was determined to be 91.5 million acres, greater than the March USDA estimate of 90.04 million as well as the trade’s average guess of 90.35 million. However, the figure was nowhere close to last year’s acreage total of 94.64 million. After the release of the report, corn prices at the Chicago Board of Trade (CBOT) reacted bearishly with contracts losing more than 20 U.S. cents per bushel.
U.S. corn acres, grain stocks higher than expected
CBOT Weekly: Futures predicted to decline after USDA reports
Grain futures at the Chicago Board of Trade (CBOT) are expected to decline after the United States Department of Agriculture (USDA) releases its prospective plantings and quarterly grain stocks reports on June 28.
Oilseed crush, grain deliveries see mixed yearly changes
Changes varied in the amount of oilseeds crushed and grains delivered in Canada during the month of May compared to one year ago, according to Statistics Canada (StatCan).
Few changes expected ahead of StatCan report
It will be the second survey-based acreage report for 2024-25 from StatCan after the first was released in March. Since then, much of the Prairies received normal to above-normal amounts of precipitation while cooler temperatures have delayed development in most crops.
Durum wheat prices expected to decline: analyst
Klassen estimated that six million acres of durum wheat were seeded this year across Canada with expected production at approximately 7.5 million tonnes. In Agriculture and Agri-Food Canada’s (AAFC) monthly principal field crops outlook released on June 20, the agency estimated 6.343 million acres with production at 5.655 million tonnes. Statistics Canada (StatCan) will release their latest acreage estimates on June 27.
Saskatchewan Crop Report: Excess moisture causing problems
Only one per cent of acres were left unseeded in Saskatchewan during the week ended June 17 due to cooler temperatures and excess moisture, according to the province’s weekly crop report.
Feed Grain Weekly: Wild weather in Alberta gives growers pause
Susanne Leclerc, owner of Market Master Ltd. in Edmonton, said moisture levels in Alberta are not distributed evenly with the north seeing plenty of rain and the south becoming drier. A recent cold snap between Calgary and Edmonton plunged lows to around the freezing mark earlier this week, while snow fell over parts of the Foothills.
Pulse Weekly: Crops growing well in Saskatchewan despite rains
As of June 10, seeding was 98 per cent complete in Saskatchewan according to the province’s weekly crop report. Also, 79 per cent of pulse crops were in normal development, while 19 per cent were behind and two per cent were ahead. Lentils were rated 90 per cent good to excellent, while chickpeas were rated at 95 per cent. Field peas were rated at 91 per cent good to excellent, while soybeans were at 83 per cent.
ICE weekly: Canola futures volatile amidst selling, rainy weather
Intercontinental Exchange (ICE) canola futures went on a rollercoaster ride during the week ended June 12. The July contract failed to record consecutive gains or losses during the week, with prices ranging from C$615.40 to C$641.80 per tonne. The November contract, which traded as high as C$662.90 earlier in the week, fell to its lowest
Slaughter cattle market still strong
Markets are on lighter schedule but producers keep cleaning up
Most cattle auction sites across Manitoba have slowed their operations as summer approaches. The cattle going through the rings during the week ended May 30 were left behind after the first cut was sold off months ago. However, there are still some good finds on the slaughter market, according to Ashern Auction Mart general manager
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