As farmers in the United States get ready to plant their crops in 2024, there has been speculation of how much corn and soybeans they will plant.
CBOT weekly outlook: Pointing towards more soybean acres in 2024/25
Southern U.S. cotton crop could cap soybean acres
Canadian potato output rises in 2023
Alberta vaults to first place in provincial potato production
At 32.063 million hundredweight of potatoes this year, Alberta vaulted from third to first place as it improved on the previous year’s crop of 26.813 million. Manitoba moved into second spot from third with its harvest of 29.760 million cwt. following last year’s 26.139 million. Prince Edward Island saw its output reduced in 2023 to 25.813 million cwt. from 27.789 million. In 2023, the trio combined for 68 per cent of Canada’s total potato harvest of 128,801 million cwt.
Pulse weekly outlook: AAFC forecasts larger dry pea, lentil crops
Dry pea prices have seen gains over the week; lentils steady to higher
Agriculture and Agri-Food Canada forecasted increases in the production of dry peas and lentils for the 2024/25 crop year compared to those in 2023/24. AAFC issued its first supply and demand report for the calendar year on Jan. 22, which included the department’s preliminary estimates for the coming crop year. The data was not based on farmer surveys or satellite models.
ICE weekly outlook: Virtually no upside for canola
Forthcoming South American soybean harvest a bearish influence
With 2024 well underway, canola has very little reason to get excited, according to analyst Wayne Palmer of Exceed Grain in Winnipeg.
Prairie wheat weekly outlook: Narrow price movements for wheat, durum
The Canadian dollar lost three tenths over the week
Wheat prices across the Canadian Prairies were narrowly mixed for Canadian Western Red Spring Wheat and Canada Prairie Red Spring Wheat, while those for Canadian Western Amber Durum eased back by small amounts.
IGC raises wheat, corn, cuts soybeans
IGC upped projected total grain ending stocks to 590.2 million tonnes
As the world’s supply of grain for 2023/24 was increased to 2.307 billion tonnes, the International Grain Council bumped its projections for wheat and corn, while trimming those for soybeans.
More record cattle prices likely on horizon
If heifer retention rises, prices will continue to ascend
Manitoba’s eight cattle auctions and numerous others across Canada witnessed record high prices this past fall, and even stronger prices could be the big story in 2024, according to Brenna Grant, executive director of CanFax. “I think it would be no surprise that, with a smaller North American cattle herd, that the fundamentals remain strong,
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
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.
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.