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USDA favours corn with 2012 crop insurance price guarantees

Chicago / Reuters / Crop insurance price guarantees for 2012 should encourage U.S. farmers to plant corn over soybeans, according to analysts. The U.S. Department of Agriculture set the guarantees, which act as the floor price for crop insurance policies, at $5.68 per bushel for corn and $12.55 a bushel for soybeans across most of
Cereals, Crops, Grain Markets, News

Which wheat market best?

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The end of the Canadian Wheat Board’s single desk Aug. 1, 2012, will create an increased need for a viable futures market to manage risk and aid in price discovery, said representatives of the Chicago Board of Trade, Minneapolis Grain Exchange, and ICE Futures Canada as they highlighted the benefits of using their respective contracts
Cereals, Crops, Grain Markets, News

Wheat board signs first handling agreement with Cargill

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It took awhile, but the Canadian Wheat Board announced its first handling agreement with a grain company last week and promises more to come. “These are important negotiations so we’re working through them carefully and meticulously,” Dave Simonot, the board’s director of Farm Services told farmers attending the Deerwood Soil and Water Management Association’s annual
Crops, Grain Markets, News

Open interest tiny amid CWB doubts, timing

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After nearly four weeks of trading, open interest is tiny in the new milling wheat, barley and durum futures and options contracts offered by ICE Futures Canada. “I don’t think it’s fair to say we were looking for a lot of liquidity at this point in time with the contracts,” said Brad Vannan, president and
Cereals, Crops, Grain Markets, News, Oilseeds

Expect canola industry to seek even more acres

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ICE Futures Canada canola contracts remained pointed decidedly higher during the week ended Feb. 17, showing no real signs of slowing down. Similar gains in the Chicago soy complex did provide some underlying support to the Canadian futures, but canola was also benefiting from its own bullish fundamental and technical factors. Depending on the chart
Crops, Grain Markets, News

CWB ready to compete and expecting to be profitable

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The Canadian Wheat Board will succeed in an open market, predicts president and CEO Ian White. “I’ve got no doubt we can run a viable business,” White said in an interview in his office last week. “We hope it will be profitable in its first year. That’s what we’re targeting.” The board always said the
Crops, Grain Markets, News, Oilseeds

Analyst says another price surge unlikely

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An economic storm overseas has resulted in a few waves hitting Canadian shores, leaving canola markets slightly dampened by volatility and uncertainty. The European debt crisis, along with a weak American economy, has affected canola markets, ProFarmer Canada’s Mike Jubinville told farmers attending Ag Days. “Certainly this has always been and will continue to be
Cereals, Crops, Grain Markets, News

Checks and balances needed, post-CWB

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With the end of single-desk grain marketing in sight, producers and farm organizations are focusing on filling in the gaps and supporting a stable transition to an open market. “There are more questions than answers,” said Don Dewar, chairman of an ad hoc Keystone Agricultural Producers committee looking at issues grain producers will face in
Crops, Grain Markets, News, Oilseeds

Sunflower prices remain in narrow range

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Flat demand for Canadian sunflower seed, along with tight supplies and reluctant sellers, are keeping western Canadian sunflower bids within a narrow range, according to industry participants. “It’s kind of at a stalemate to a certain degree for prices despite what little sunflower is out there,” said Roger Kissick, sunflower analyst with Linear Grain. Grant

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