Regardless of who is making the call, Brazil will have an extremely large soybean crop in 2021. With estimates ranging from 132 million to 135 million tonnes, it will be a record soybean crop, topping the 126 million tonnes produced in 2019-20. Coupled with Argentina on track to reap a very sizable crop of 47
South American soybean crop looms over oilseed markets
Concerns over dry weather south of the equator are no longer a factor
CBOT weekly outlook: Corn is the leader
MarketsFarm — Over the last week at the Chicago Board of Trade (CBOT) corn has been leading soybeans, while wheat has been lacking good exports, according to Ryan Ettner, broker with Allendale Inc. in Fort McHenry, Ill. Ettner said he also expects the situation is very likely to continue, barring any kind of a major
U.S. WASDE points to lower ending stocks, lifts futures
The March contract set a new high based on USDA’s report
Within days before the U.S. Department of Agriculture (USDA) issued its latest supply-and-demand report, there was speculation of further reductions to ending stocks for soybeans, corn and wheat. Such bullish news would see U.S. prices rise and spill over into canola. On Jan. 12 USDA released its world agriculture supply-and-demand estimates (WASDE), which slashed soybean ending stocks
ICE weekly outlook: Potential remains for higher canola prices
MarketsFarm — Canola prices fell back during the course of the last week, but should begin to move higher going into the coming week, according to trader Ken Ball of PI Financial in Winnipeg. Canola likely “reached the top” last week with profit-taking having set in, he said, noting a lot of money pours into
ICE weekly outlook: WASDE spillover boosts canola
Canola may soon become price-sensitive, analyst says
MarketsFarm — Sharp increases in soybean, corn and wheat futures on Tuesday, following the release of the latest supply and demand report from the U.S. Department of Agriculture (USDA), in turn spilled over into canola. The most significant factors in USDA’s world agricultural supply and demand estimates (WASDE) were further reductions to ending stocks for
A difficult year for Manitoba’s cattle industry
COVID backlogs and market pivots were all just part of the challenge
It would be something of an understatement to say the Manitoba cattle industry faced a tough year in 2020 due to the COVID-19 pandemic, according to a pair of industry experts. “Prices were volatile and then very flat in the second half of the year,” commented Brian Perillat, manager and senior analyst for CanFax. He
Feed weekly outlook: Barley, wheat prices very likely to increase
Increases seen tied to rising U.S. corn
MarketsFarm — Two Alberta traders believe strong feed grain prices will continue to push higher over the next week of January, with much of the upswing tied to the rise in corn prices in the U.S. “As corn edges higher, becoming the preferred direct replacement to barley, your barley floor comes up and wheat starts
Dryness looms over South American crops
Dry conditions in several parts of Brazil and Argentina are likely to continue, according to meteorologist Drew Lerner of World Weather Inc. in Overland Park, Kan. Dry conditions in October and November hampered seeding progress of soybeans, especially in Brazil, according to reports. However, by the end of planting farmers had largely caught up. In
Manitoba fall cattle run comes to an end
Local beef plants showed some demand for slaughter cattle
The fall run in the Manitoba cattle industry largely wrapped up on the week ended Dec. 17. As that large influx of cattle came to an end for 2020, prices for feeders were down a few cents per pound and those for slaughter were up a few cents, according to Harold Unrau, manager of the
ICE weekly outlook: Canola, soybeans – keep an eye on South America
MarketsFarm – After canola incurred six consecutive sessions of gains in which new contract highs were reached, the Canadian oilseed took a bit of tumble on the Intercontinental Exchange. Such is a sample of the volatility in the market during the holidays. Keith Ferley, a trader with RBC Dominion Securities in Winnipeg, Man., suggested there
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