MarketsFarm –– Recession fears and harvest pressures weighed down grain prices on the Chicago Board of Trade (CBOT) for the week ended Tuesday and it’s unknown when the selloffs will end. Wheat contracts took a tumble by about $1.40 per bushel during the week, while the August soybean contract dropped $1.3225/bu. to close at $14.3925
CBOT weekly outlook: Speculation, harvests plunge grain prices
StatCan raises Canada’s canola plantings from earlier estimate
Farmers seen returning to 'steady Eddie' wheat
MarketsFarm –– Canadian canola plantings are projected to come in above earlier expectations but would still be well below what was seeded to the crop in 2021, according to updated acreage estimates from Statistics Canada released Tuesday. Meanwhile, wheat area in the country is forecast at its highest level in nearly a decade. After a
Manitoba Crop Report: Plantings advance, crops threatened by weeds, insects
MarketsFarm – Seeding continues to advance in Manitoba, but recent rains have also hindered progress and emergent crops are being threatened by weeds and insects. Plantings in the province are 91 per cent complete as of June 21, four points higher than the previous week according to Manitoba’s weekly crop report. Typically, the third week
Pulse weekly outlook: Peas, lentils faring well but threats remain
MarketsFarm — Growing conditions for peas and lentils in Saskatchewan during the spring can be described as variable. While western parts of the province continued to endure dry conditions carried over from last year’s drought, regions in the east were drenched with near-continuous rainfall to go along with below-normal temperatures. Lionel Ector, president of Diefenbaker
CBOT weekly outlook: U.S. interest rate decision could shake futures
Heat in forecast keeping U.S. corn supported
MarketsFarm — Commodity prices on the Chicago Board of Trade (CBOT) were certainly affected by the U.S. Department of Agriculture’s (USDA) monthly supply/demand estimates released last Friday — but may be shaken again after the U.S. Federal Reserve decided to raise its key interest rate by 0.75 of a point. Ryan Ettner, a commodity broker
StatCan releases satellite crop vegetation data
MarketsFarm — Statistics Canada’s crop condition assessment program (CCAP) on Thursday released its weekly normalized difference vegetation index (NDVI) values from April 11 to May 29 — telling the tale of weather extremes in the Prairie provinces. As of the fourth week of May, seeding was 95 per cent complete in Alberta, compared to the
CBOT weekly outlook: Soy prices rise, yields may follow suit
MarketsFarm — Soybeans were the high-rising crop on the Chicago Board of Trade (CBOT) for the week ended Wednesday, two days before the U.S. Department of Agriculture’s monthly world agriculture supply/demand estimates (WASDE) are released. Old- and new-crop soybeans all rose in tandem during the week, but while old-crop contracts are rising in price due
Feed weekly outlook: Rains forecast for southern Alberta
MarketsFarm — The prospect of rain over drought-stricken southern Alberta, with Calgary and Lethbridge possibly seeing at least 30 millimetres from June 4 to 7, would seem to be a godsend for growers. However, recent history suggests the moisture may not matter in the long term, according to Mike Fleischhauer of Eagle Commodities Ltd. at
Pulse weekly outlook: More rainfall turns into more seeding delays
MarketsFarm — After southern Manitoba had experienced ideal seeding conditions for most of the previous week, another round of rains created another round of headaches for pulse growers on Monday. “Last week, there were a few dry beans planted here in southern Manitoba. (There was) a lot of prep work being done. Things were really
Prairie cash wheat: Talk of Black Sea corridor weighs on week’s bids
MarketsFarm — The prospect of Russia allowing food shipments to leave Ukraine — albeit with a few concessions — was the key factor in declining bids for western Canadian wheat during the week ended Thursday. Russian Deputy Foreign Minister Andrei Rudenko on Wednesday said his country is ready to provide a humanitarian corridor in the
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