The "Off the Beaten Path" demonstration tour presented by BMO at the Ag in Motion farm show July 16-18, highlighted the multi-year research underway by several companies at the 610-acre site, with the improved moisture levels in 2024 helping provide new data for the ongoing projects.
Off the ‘slightly muddier’ beaten path at Discovery Farm
Short position in canola edges lower, while soybeans/corn rise
The managed money short position in canola futures edged lower in the latest data, while bearish bets in soybeans hit their largest level in five years and the net short position in corn set a new record, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
No weather market appearing
While there are challenges out there, so far North American growing conditions aren't sparking concern
Corn keeps markets bearish
The USDA reported sky-high corn plantings this season, surprising the trade
Corn, wheat and soybeans all held near their lowest levels in months, if not years, in the week following Canada Day.
Bovine bird flu reports still at zero in Canada
Results of a national testing program conducted by the Canadian Food Inspection Agency (CFIA) released June 18 showed no evidence of the highly pathogenic avian influenza (HPAI) in the country’s milk supply. "Commercially sold milk and milk products remain safe to consume," said a release from the CFIA and the Public Health Agency of Canada (PHAC). It was also noted that even if traces of the virus were found, the pasteurization process would have rendered them harmless.
Canola markets under pressure
Prairie rains raises optimism for bigger crop, weighs on prices
Right now, notwithstanding a myriad of factors, canola prices on the Intercontinental Exchange, at $620 to $650 per tonne,are at their lowest for this time of year since 2020.
June 12 WASDE report, by the numbers
USDA and StatCan reports can generate market action or shrugs
Highlights of the USDA's June 12 World Agriculture Supply and Demand Estimates included downward revisions to Russian wheat production and Brazil's soybean crop, and an increase in the U.S. wheat production estimate, but it was largely filed under the non-event category.
Outside influences on the grain market
Macroeconomic forces such as interest rates and the Canadian dollar are set to weigh in
Macroeconomic forces are set to weigh in on grain markets.
Improved Canadian pest control product regulations proposed
Proposed amendments to Canada’s pest control product regulations (PCPR) will provide greater transparency while enhancing environmental protection, according to an announcement from Health Canada on June 17.
Sideways trade expected to emerge
There aren’t a lot of market catalysts on the horizon
Export movement remains lacklustre at best, but canola is said to look more attractively priced internationally.
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