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“There seems to be an excess on the market, which is weighing on prices and has been over the last couple of months.”
Grain Markets, Markets

Prices have plunged but Canadian flax still too pricey for most

China has been upping its purchases of cheaper Russian flax while Europe is buying from Kazakhstan

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Flax prices have fallen by half from a year ago but are still too high to be competitive on a global level, according to one flax processor. Despite being touted as a heart-healthy food, demand for flax remains “fairly weak,” said Mike Popowich, vice president of TA Foods in Yorkton, Sask. “The price is still
A dried-out corn crop sits next to cotton that was planted into a dried-out cornfield, amid Argentina’s worst drought in 60 years, at Tostado in the country’s northern Santa Fe province, on Feb. 8.
Grain Markets, Markets

Canola, soybean markets await any news

Oilseed values remain within general ranges

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North American grain and oilseed futures were looking for direction in mid-February, with little news to pull values too far one way or the other. ICE Futures canola contracts drifted lower before recovering most of those losses, remaining rangebound overall. Soyoil futures in Chicago find themselves in a downtrend, but meal remains pointed higher and
Grain Markets, News

Ukraine grain exports down 29.2 per cent in 2022/23

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Ukraine grain exports in the 2022/23 season, which runs through to June, are down 29.2 per cent to 28.2 million tonnes so far, due to a smaller harvest and logistical difficulties caused by the Russian invasion, agriculture ministry data showed February 8. The volume included about 10.1 million tonnes of wheat, 16.2 million tonnes of
The MKK1, a Palau-flagged bulker carrying grain under the United Nations’ Black Sea grain initiative, is towed free after running aground in the Bosphorus strait near Istanbul on Jan. 16. The grain initiative is next set to expire in mid-March.
Grain Markets, Markets

Wheat market waits for a lift

Circumstances seem to be setting up for a positive price breakthrough

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There was little to find in terms of surprises within the U.S. Department of Agriculture’s (USDA) monthly supply/demand estimates released on Feb. 8 — and even less so with wheat. Ending stocks for U.S. wheat were projected at 568 million bushels, only one million more than in USDA’s January report and right between the low
Brazil’s soybean crop this year is expected to more than offset any drought-reduced yields in neighbouring Argentina.
Grain Markets, Markets

No breakout for rangebound canola for now

New StatCan and USDA data aren’t expected to offer much impetus

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There is likely nothing substantial over the next few months that could break canola and other vegetable oils out of their rangebound state. Canola, for instance, continued to vacillate between $800 and $850 per tonne during the week ended Feb. 2. In recent weeks the Canadian oilseed has pushed towards $900/tonne, its upper level of
Farmer Ignacio Bastanchuri walks in a parched wheat field at Navarro in Argentina’s Buenos Aires province in December 2022. Several growing regions of the country expect moisture soon, but some predict it will be too late for recently planted soy and corn crops.
Grain Markets, Markets

Soybean prices may remain unsettled

Canola has been relatively immune to soy’s price swings

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After the U.S. Department of Agriculture cut its projections for U.S. soybean production (by 70 million bushels, to 4.276 billion) and carryout (by 10 million bushels, to 210 million) on Jan. 12, the March soybean contract lifted above the US$15 per bushel mark. Only six days later, the psychological $15.50/bu. level proved too much for
USDA building washington
Grain Markets

U.S. data boosts canola to remain rangebound

FUTURES | Bullish soybean data is supportive for canola

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After three days of losses, canola futures on ICE Futures regained some lost ground after a flurry of reports were issued by the U.S. Department of Agriculture on Jan. 12. Canola entered the first full week of trading in 2023 on a high note, having made gains on Jan. 6, but with the Canadian oilseed
a wheat field in Australia
Grain Markets

Australia set for record wheat crop as harvest wraps up

Grain traders down under expect a massive 42 million-tonne wheat crop

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Australia wheat production is expected to be a record 42 million tonnes as results from the final phase of harvest show higher yields in the world’s second-largest exporter of the grain, traders and an analyst said. Higher Australian wheat output comes at a time of stiff competition from the Black Sea region, where all-time high
Canola near Harden in New South Wales, Australia on Sept. 20, 2022. Australia’s latest record-large canola crop is seen as likely to keep international markets well supplied.
Grain Markets, Markets

Canola values remain rangebound

Values are seen as likely to stay in their trench until spring

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The ICE Futures canola market remained firmly ensconced in its well-established sideways trading range as activity slowly picked up to start the New Year. The most active March canola contract has held between $800 and $900 per tonne for six months now, with little on the immediate horizon to suggest an imminent break one way
A canola crop blooms in Manitoba’s Interlake in August 2022. For canola, and many other crops, pretty much anything was going to be an improvement over the drought in 2021.
Grain Markets, Markets

A look back at grain markets in 2022

Manitoba farmers evaded the dry conditions that continue in other parts of the Prairies

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Optimism is the lifeblood of farming, always looking to the coming year with thoughts that it will be better than the one before. For canola and other crops, pretty much anything was going to be a vast improvement over the drought-stricken harvest of last year, and such was the case. Despite harvest 2022 being modestly

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