Growing concerns over dry conditions in North America, as well as parts of Europe, Argentina, Malaysia and elsewhere, led to a spike in oilseed and grain prices. That was particularly felt on June 15 when North American markets spiked upward and saw ICE Futures canola jump more than $20 per tonne for the most heavily-traded
Dryness leads to spike in weather market
Several canola contracts punched up above $700
Pulse weekly outlook: Fewer growers signing up their green lentils
'A lot of interest' seen for red lentils
MarketsFarm — There has been a divergence of prices between green and red lentils so far in 2023, according to Levon Sargsyan of Johnston Grains at Weyburn, Sask. Sargsyan said he hasn’t seen too many acres of green lentils signed up for this year, while it’s the opposite case for the reds. “I’m seeing some
Fewer auctions as end of spring cattle run nears
Smaller numbers make transportation even more of an issue
It was a scant week for cattle auctions in Manitoba as only three of the eight went ahead with sales. For the week of June 2-8, only Grunthal, Ste. Rose and Winnipeg held auctions, with a total of 1,335 feeder and slaughter cattle sold. “It’s that time of year when most guys kick [their cattle]
ICE weekly outlook: Canola will follow soyoil up or down
Prairie weather another guiding factor
MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an
Bison industry expanding, becoming mainstream
Bison meat emerging from 'seasonal' perception
MarketsFarm — The Canadian bison industry has been through some difficult times during the last few years but is now emerging from those doldrums, according to Manitoba Bison Association president Robert Johnson. “Between the two drought years and the COVID-19 pandemic, then high feed prices, probably the last two years have been pretty crappy for
CBOT weekly outlook: Ending stocks of corn, soy predicted to rise
Ending stocks of wheat projected to drop as drought hits Kansas winter wheat
MarketsFarm — Ahead of supply and demand estimates from the U.S. Department of Agriculture due out Friday, analyst Tom Lilja of Progressive Ag in Fargo, N.D. predicted increases in 2023-24 ending stocks for U.S. corn and soybeans and decline for wheat. The average trade guess for wheat going into this month’s report was approximately 570
Extent of Saudi oil production cut unclear
Reported tensions within OPEC limit price gains
MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that move was bullish for the markets, by how much remains to be seen, said Phil Flynn of the Price Futures Group in Chicago. “It’s probably
Rain needed for soybeans, other southern Manitoba crops
Seeded soybeans projected to be up more than 40 million acres from 2022
MarketsFarm – When Toban Dyck started to plant his 600-plus acres of soybeans this year, the soil in the Winkler, Man. area had pretty decent moisture content. But following the combination of hot temperatures and strong winds with little rainfall in May, precipitation is now much needed. “There’s still a little bit of moisture there.
A short but tough week for canola
Another year of tight canola stocks predicted
There wasn’t much to prop up canola values on ICE futures over the shortened week of May 23. As of May 25, the two most actively traded contracts, old-crop July and new-crop November, fell back by $11.20 and $14.40 per tonne respectively. That’s despite the former poking its head above the psychological level of $700/tonne
Insects posing problems in Saskatchewan crops
Grasshopper, flea beetle damage already reported
MarketsFarm – Although it’s still early in the growing season, some insect pests have already posed a threat to crops in Saskatchewan or could do so in the near future, according to James Tansey, provincial specialist for insects/invertebrate pest management. Among the pests he cited were grasshoppers, flea beetles and pea leaf weevils. Tansey said
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