Shock and awe rocked the markets on March 31 after the United States Department of Agriculture (USDA) issued its prospective plantings report. The first survey-based projections for 2021 caught the markets largely off guard that Wednesday, which sent prices to their daily limit in several commodities. That not only included the soy complex and corn
Up limit spike points to more acres needed
A key USDA report shocked the market and resulted in prices moving upward
Flax area seen expanding on strongest prices ever
MarketsFarm — To MarketsFarm Pro analyst Mike Jubinville, there’s no doubt that flaxseed acres in Canada will increase in 2021. In Agriculture and Agri-Food Canada’s (AAFC) March supply and demand estimates, the department projected flax acres to jump 22 per cent in 2021-22 at about 1.14 million, up from nearly 931,600 seeded in the previous
Pulse weekly outlook: Lentil values mainly steady
'There’s no fire in the lentil belly, that’s for sure'
MarketsFarm — There hasn’t been much change in lentil prices over the last week and at least one marketer expects there likely won’t be any when it comes to the amount of lentils that Canadian farmers plant in 2021. “[Lentil prices] are just softer than what they were. There’s no fire in the lentil belly,
ICE weekly outlook: USDA reports could spur record canola acres
MarketsFarm — After May and July canola contracts took hefty hits over the past the week, they skyrocketed to close out the calendar month following a pair of reports from the U.S. Department of Agriculture (USDA). The department on Wednesday issued its first survey-based prospective planting report for 2021, which called for increased acres for
Prairie cash wheat: Bids mixed with falling futures, weaker loonie
MarketsFarm — Bids in Western Canada were mixed this week for Canada Western Red Spring (CWRS) wheat and steady to lower for Canada Prairie Spring Red (CPSR) and durum (CWAD). Lower prices in U.S. wheat markets weighed on values, while a weaker Canadian dollar provided support. Average CWRS (13.5 per cent protein) wheat prices were
Pulse weekly outlook: Roquette pea plant readying for full operation
MarketsFarm — Operations at the Roquette pea processing plant just west of Portage la Prairie, Man. have been underway since the end of 2020, according to Michelle Finley of Roquette Canada. The company is working toward full operation at the world’s largest pea plant by early 2022, she said. “To date we have picked up
It wasn’t a great week for prices, especially old-crop canola
Other edible oils also ate their share of losses during the week
Rather than getting any St. Patrick’s Day luck, ICE canola futures took more of a hit from the Ides of March. Profit-taking was the main feature for the week ending March 18, which drove a knife into prices that had recently hit record highs. After trading above $800 per tonne to start the week, May
ICE weekly outlook: Is a bear market next for canola?
Winnipeg | MarketsFarm — The canola market started to retreat this week as unpriced supplies still in the countryside approach non-existent, according to Wayne Palmer, analyst with Exceed Grain in Winnipeg. For the first half of the week of March 15, canola began to lose strength, particularly in old-crop months. That was highlighted at the
Today’s mantra for canola is simple
South America’s pending soybean crop stands to drag on canola values
When it comes to ICE canola futures, there’s one thing to keep in mind: tight canola supplies. Those shrinking old-crop supplies will continue to support canola and provide a good reason for prices to climb. That was quite evident March 4 when the May canola contract rose by its daily limit of $30 per tonne
Pulse weekly outlook: Pulse Canada CEO retiring
MarketsFarm — After nearly 24 years at the helm of Pulse Canada, Gordon Bacon is retiring as the organization’s chief executive officer. Bacon was Pulse Canada’s first hire and has been its CEO since its inception. “It sounds like a story, but on my first day on the job, I went out and bought a
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