MarketsFarm — Wheat and corn on the Chicago Board of Trade are likely to fall back in the coming weeks, according to Terry Reilly, senior agricultural specialist for Marex in Chicago. Soybeans, meanwhile, could go either way, he said, depending on the severity of upcoming weather conditions. Reilly commented that the December Chicago wheat contract
CBOT weekly outlook: Wheat, corn likely to trend downward
Weather to steer soybean values
Feed weekly outlook: Influx of cheaper U.S. corn pushing down prices
Weaker Chicago corn prices led to a 50-cent/bu. drop in Alberta feed barley, wheat
MarketsFarm – Feed grain prices took a tumble this week in Alberta, said Susanne Leclerc of Market Master Ltd. in Edmonton. “It’s kind of shocking. I know we had some harvest start in the southern part [of the province]. It seems to have really affected prices. Of course, corn got cheap with the futures dropping
Canola markets in wait-and-see mode
Production will likely fall below expectations
Canola prices spent the last full week of July vacillating between increases and decreases as the market shifted into a wait-and-see mode on this year’s crop on the Canadian Prairies. There’s zero doubt the 2023-24 canola harvest won’t make the 18.8 million tonnes projected by Agriculture and Agri-food Canada. Drought and excessive heat across most
Manitoba’s crops continue to hold up
Hay yields generally below average; pasture conditions were deteriorating due to dryness
MarketsFarm – Timely rains in Manitoba have kept the province’s crops in relatively good shape, according to the latest crop report. Manitoba Agriculture said precipitation as of Aug. 1 amounted to as much as 73 millimeters around Zhoda in the southeast to 13 mm at The Pas in the north. Although several locales throughout the
Pulse weekly outlook: lentils poised to go either way pricewise
Everything is dependent on the yields come harvest says analyst
MarketsFarm – Before the harvest of lentils gets underway across the Canadian Prairies, there has been some speculation as to which way prices could go, according to Levon Sargsyan of Johnston’s Grain. “Of the two stories I’m getting, one is from farmers, and one is from buyers, and of course there’s bias,” Sargsyan commented. “[The
Strike’s impact on grain movement yet to come
Port workers union, employers reached a tentative agreement Monday morning but backlog likely to linger
MarketsFarm, Reuters – Despite grain movement at Canada’s West Coast ports not being really affected by the British Columbia port workers strike in July, there’s a good chance for issues to arise in the coming months, according to Mark Hemmes, president of Quorum Corp. “The volume of grain that moved in the last three weeks
Prairie cash wheat: durum soars as red spring falls back
Steep increases following Russian attacks on Ukrainian ports were gone by mid-week
MarketsFarm – There were sharp increases in durum across Western Canada for the week ended July 27, while spring wheat incurred small to moderate declines. There were gains in Minneapolis spring wheat, while Kansas City and Chicago winter wheat contracts slipped back. At the beginning of the week there were steep increases for wheat as
Slaughter prices steady to lower in lone sale
Manitoba’s cattle sector is still in its summer slog, with low volumes headed to the ring
Summer is the slow season for Manitoba’s cattle industry and only one auction facility was open during the week of July 14-20. The Grunthal Livestock Auction Mart Ltd. hosted its sale July 18 with 63 head, including only nine feeder cattle. “There’s almost no feeder cattle moving at this time of year. Most markets are
ICE weekly outlook: canola market heading towards choppy waters
Markets will pause to see how the crops finish developing: analyst
Marketsfarm – While the recent gains in canola on the Intercontinental Exchange were likely generated by the spreaders, the market will probably become choppy, according to Ken Ball, trader with PI Financial in Winnipeg, Man. “Spreaders for the last few days have been selling canola and buying soyoil,” Ball suggested in a July 26 interview,
Pulse weekly outlook: recent rains could stabilize crops
Prices for pulses across Western Canada have been steady
Marketsfarm – Despite the rain the Canadian Prairies received since July 17, MarketsFarm Pro analyst Mike Jubinville pointed out that the major pulse crop areas got very little. While any precipitation has been beneficial to this year’s crops struggling with dry conditions, Jubinville said, it won’t help that much. “In terms of advancing pea and
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