Spring wheat futures at the Minneapolis Grain Exchange (MGEX) posted steady declines over the past month, but have found some support as farmer selling backs away and basis levels improve, said a spring wheat broker who expected prices to rise in the short term. Demand for hard spring wheat has been routine, despite the drop
MGEX spring wheat futures seen heading higher
Soybeans head west
With soybean acres continuing to soar in Manitoba, it appears soybeans are catching on in Saskatchewan too. Actual acreage data is scarce given the crop’s recent expansion into Saskatchewan, but Dale Risula, a crops specialist with Saskatchewan Agriculture, estimated that about 70,000 acres were sown in 2012. “The interest in soybeans seems very strong,” said
Rising hemp acres not keeping up with demand for hemp products
Rising demand and good returns will see more acres devoted to industrial hemp production in Western Canada this spring, industry sources say. Canadian hemp plantings have risen steadily over the past few years, with about 55,000 acres licensed in 2012, according to government data. Due to industrial hemp’s association with its cousin marijuana, farmers need
ICE canola stuck in tug of war
ICE Futures Canada canola contracts moved lower during the week ended Feb. 27, retreating from nearby highs as losses in Chicago soybeans spilled over to weigh on values. However, canola did run into nearby support and remains range-bound overall, according to an analyst. Canola has been stuck in a broad range over the past month,
Grainworld: Feed barley pricing window expected at harvest
Canada’s barley growers should be able to see a small window of pricing opportunity at harvest when new-crop production is available and the U.S. corn crop is still in the field. Charlie Pearson, a crops market analyst with Alberta Agriculture and Rural Development in Edmonton, noted that harvest window when speaking here Monday at the
Grainworld: Malt barley faces competition from GM crops
It’s expected more and more malt barley in Western Canada will be grown solely on a contracted basis going forward, as increasing competition from easier to grow genetically modified crops will cause producers to turn away from malt barley. That’s according to Patrick Rowan, senior manager of Canadian barley operations with BARI-Canada Inc., in a
Grainworld: Best wheat futures markets for Canada debated
After decades of marketing wheat through the Canadian Wheat Board’s single desk, the western Canadian grain sector is still working out the best way to hedge the commodity, seven months into the new open market. Representatives of the CME Group, Minneapolis Grain Exchange (MGEX) and ICE Futures Canada were all on hand here Monday at
Grainworld: Wheat more than just wheat
High protein levels might not necessarily mean high prices for wheat growers in Western Canada, as many markets don’t pay a premium for protein, speakers said here Monday at the annual Wild Oats Grainworld conference, highlighting the shifting market realities now that the Canadian Wheat Board no longer retains its single desk for selling the
Grainworld: Canada’s canola acres shifting into wheat
Canadian farmers will be seeding more spring wheat and less canola in 2013, Brenda Tjaden Lepp, chief analyst with FarmLink Marketing Solutions, said here Monday in a presentation at the annual Wild Oats Grainworld conference. Factoring in relative returns, rotational issues, and what she was hearing from clients, Tjaden Lepp forecast spring wheat area in
Expect canola to give back some acres this spring
ICE Futures Canada canola contracts moved off their recent highs during the week ended Feb. 15, with speculative profit-taking and increased farmer selling — brought on by the previous week’s rally — weighing on values. The market ran into support to the downside and was showing signs of stabilizing ahead of the Louis Riel Day
Cyber-Savvy Farmer
