MarketsFarm — Early indications point to a much larger spring wheat crop in the United States in 2022 compared to the drought-stricken 2021 crop despite the late seeding, according to the latest production estimates from the U.S. Department of Agriculture. In USDA’s first official production estimates of the growing season breaking out the different wheat
Larger spring wheat crop expected in U.S.
USDA expects reduced total worldwide wheat crop
Pulse weekly outlook: Pea bids slip as new crop looms
MarketsFarm — Top-end yellow and green pea bids in Western Canada have come down over the past month, as old-crop activity slows down and attention turns to the new crop. While tight supplies after the 2021 drought did not leave too many unpriced peas in the countryside, some farmers likely still waited too late and
Baltic Dry Index at three-month lows
Demand for ocean freight seen backing off
MarketsFarm — Ocean freight rates have come under pressure over the past month as demand for freight backs away, which could be seen as a sign of the slowing global economy. The Baltic Dry Index (BDI), which is a major indicator of shipping rates, settled at 2,081 points on Monday, up 14 points from Friday’s
Canola funds’ position shifts to net short
MarketsFarm — Speculative fund money in ICE Futures canola shifted to a net short position for the first time in two years, according to the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in at 677 contracts
ICE weekly outlook: Canola selloff shows signs of slowing
MarketsFarm — ICE Futures canola contracts fell to their lowest levels in five months in early July, but may be finally finding some support as the selloff shows signs of running out of steam. The most-active November contract dipped below the $800 per tonne level on Tuesday and Wednesday — but ended above that psychological
ICE weekly outlook: Falling canola futures snowballing lower
MarketsFarm — ICE Futures canola contracts fell hard during the week ended Wednesday, with little indication of how much more room to the downside there could be. “Once the snowball starts rolling, it just rolls,” analyst Mike Jubinville of MarketsFarm said, adding there were no dynamic changes to the generally supportive canola fundamentals — but
AAFC ups wheat production, usage numbers; stocks steady
MarketsFarm — Projected ending stocks of Canada’s major crops were left relatively unchanged in the latest supply/demand estimates from Agriculture and Agri-Food Canada, released Monday, although there were some revisions to the wheat production and usage numbers. The government agency raised its forecast for total Canadian wheat production in 2022-23 to 33.092 million tonnes, up
Prairie cash wheat: Bids firm as loonie falls
MarketsFarm — Spring wheat bids in Western Canada moved higher during the week ended Thursday, as heavy losses in the Canadian dollar more than countered the bearish influence of weakening U.S. futures. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $4.50-$7.40 per tonne during the week ended Thursday,
Canola net long position smallest in 10 months
MarketsFarm — The net long position held by fund traders in the ICE Futures canola market continued to dwindle in the latest Commitment of Traders (CoT) report compiled by the U.S. Commodity Futures Trading Commission (CFTC), hitting its smallest level since August 2021. The net managed money long position in ICE Futures canola came in
Feed weekly outlook: Rains boost Prairie grain prospects
MarketsFarm — Heavy rains in Alberta and western Saskatchewan over the past week should give grain crops a good start to the growing season — and put some pressure on the feed grain market, which remains at historically high prices after last year’s drought. The rain “will kick the production can a fairly good ways
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