Ahead of the monthly report from the United States Department of Agriculture on Jan. 12, Allendale Inc. president Steve Georgy said he’s not expecting any major surprises for U.S. corn, soybeans or wheat at this point in the 2023/24 marketing year.
CBOT weekly outlook: Big surprises unlikely in S/D report
Watch out for which side of two billion bushels U.S. corn carryout lands, analyst says
Volatile oil market most likely to improve says analyst
Israel-Gaza war, Red Sea attacks having less impact than expected
As the global oil market continued to ready itself for 2024, one analyst stated it’s more likely prices will increase than to drop further. Phil Flynn of the Price Futures Group in Chicago said one’s outlook on crude oil is predicated on their economic view.
USDA Brazil attaché cuts soybean projections for 2023/24
Several firms have dropped Brazil soybean projections on seeding delays, weather
With Brazil having faced opposing weather extremes, there’s little surprise the United States Department of Agriculture attaché cut their soybean production estimate for 2023/24. The Brasilia desk reduced its call from a record 162 million tonnes to 158.5 million in its latest report.
Terrific prices, optimism but several ongoing issues for cattle markets through 2023
Aging producer population, drought and inflation reduce cattle numbers
Record prices were a tremendous boon to the Manitoba cattle industry in 2023, but the sector continued to struggle with significant problems during the year, according to Manitoba Beef Producers general manager Carson Callum. “I think the high prices were one of the big things leading to optimism within the sector,” he said. “There’s been
Feed weekly outlook: Several factors weighing on prices
Warm weather means less feed needed, easier movement says analyst
Feed grain prices across the Canadian Prairies are expected to continue falling back for the next few months due to a number of reasons, according to Evan Peterson of JGL Commodities in Saskatoon, Sask.
Most lentil prices at year highs as 2023 closes
Little movement among Western lentils as New Year dawns
With the New Year, there was scarce price movement among the lentils in Western Canada, according to Prairie Ag Hotwire. A number of lentil varieties saw the upper end of their price range hit highs as 2023 drew to a close.
ICE weekly outlook: No reason for strong rally in canola
Canola likely to pull back once trading gets back into full swing in New Year
There were strong gains for canola on the Intercontinental Exchange on Dec. 27, as trading resumed after being closed for Christmas and Boxing Day. However, the gain will likely not be the prelude to a major upswing in the oilseed’s prices. Rather, canola is likely to pull back once trading gets back into full swing after the New Year, according to analyst Bruce Burnett of MarketsFarm.
Most of Manitoba drier than normal heading into winter
Dry summer and fall leaves soil moisture low and fall precipitation hasn’t been enough
MarketsFarm – Manitoba received normal to below normal precipitation during November and most of the province’s agricultural areas are faced with drier than normal conditions. That’s according to the fall conditions report issued by Manitoba Infrastructure and Transportation on Dec. 14. Much of November’s snow melted and added some moisture to the soil, stated the
CBOT weekly outlook: U.S. wheat remains rangebound
U.S. wheat prices essentially bottomed out during late November; recovered somewhat in December
United States wheat prices have been in something of a quandary lately, with any hope of higher prices curtailed by the need to remain competitive with cheaper Russian wheat, according to Tom Lilja of Progressive Ag in Fargo, North Dakota.
Prairie cash wheat: Most Western Canadian cash prices drop
Surge in Canadian dollar weighed on Prairie cash prices
Wheat prices across the Canadian Prairies fell back for Canadian Western Red Spring Wheat and Canada Prairie Red Spring Wheat, while those for Canadian Western Amber Durum were mixed.
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