Prices for wheat on the Canadian Prairies were either side of steady by the week ended May 9. There were losses for Canadian Western Red Spring Wheat and Canadian Western Amber Durum, but Canada Prairie Red Spring Wheat incurred increases.
Prairie Wheat Weekly: Prices mixed at end of tumultuous week
A wild ride to nowhere for canola prices
In this case it was the journey, not the destination, that was exciting
Canola futures on the Intercontinental Exchange closed out the week ending May 2 pretty much right back where they started. The July contract closed on Apr. 25 at $636.90 per tonne, fell back, and then worked back to the same price. It was a very similar story for the new crop November contract, from $653.70/tonne
Feed Grain Weekly: A bearish market, especially in southern Alberta
Sufficient supplies of domestic barley and wheat along with the ongoing influx of corn from United States, have continued to keep a lid on feed grain prices on the Canadian Prairies. That’s especially so in southern Alberta, according to Darcy Haley, vice-president of Ag Value Brokers in Lethbridge.
Manitoba seeding progress made, but behind average pace
Planting progress in Manitoba advanced a little bit during the week ended May 7, with four per cent of the province’s crops in the ground. With the bulk of the seeding in the central region, that’s up two points from the previous week but five behind the five-year average.
Most Canadian grain stocks tighter than a year ago
For many of Canada’s major crops, their holdings came in lower than a year ago, as Statistics Canada released its stocks of principal field crops as of March 31 report. There were declines in all wheat, durum, oats, corn, lentils and peas, but there were increases for barley and canola while soybeans were relatively steady.
Kazakhstan wheat crop set to rebound in 2024/25
Wheat production in the central Asia country of Kazakhstan is expected to bounce back in 2024/25 according to the United States Department of Agriculture attaché in the capital of Astana.
Weather forecaster tweaks outlook for Prairies, Midwest
As Drew Lerner stood by his weather outlook for the strong likelihood of below normal rainfall and above normal temperatures this summer for the Canadian Prairies, along with the United States Midwest and Plains, he has now slightly moderated that long range forecast. About a month ago, the president of World Weather Inc. in Overland
Is the strong cattle market sustainable?
If a correction comes, overextended producers could be hit hard
The Manitoba cattle market remains strong but the sustainability of current high prices is a question. “I talked with some local abattoirs and they say they really can’t compete with some of the bigger operations in the cities doing things cheaper or on a higher volume,” said Tyler Slawinski, auctioneer at the Gladstone and Ashern
Attaché projects small increases in Argentina soybeans
Soybean production in Argentina has been projected to increase slightly in 2024/25, according to the United States Department of Agriculture attaché in Buenos Aires.
ICE Canada Weekly: Almost no chance of bullish path for canola
There are simply too many bearish factors that continue to weigh on canola values, leaving the oilseed unable make any sort of turnaround in early May, according to Tony Tryhuk of RBC Dominion Securities in Winnipeg.
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