High Grain Prices Won’t Last Forever

High grain prices make farmers happy, but they make market analyst Chuck Penner nervous. It’s not that Penner, with LeftField Commodity Research, doesn’t like high prices. His apprehension comes from knowing sometime those prices will fall. When prices last spiked in 2007-08 at close to these levels, they went a bit higher and then fell

Mexico Corn Crop Hit By Frost

State agriculture officials said early estimates show 100 per cent of Sinaloa’s five-million- tonne corn crop was damaged by recent frosts, representing 20 per cent of Mexico’s national harvest. The federal Agriculture Ministry said it was still evaluating damages and it is too early to give an exact forecast of losses. An emergency replanting program


Canola Futures Slip Despite Industry’s Efforts

Canola futures on the ICE Futures Canada trading platform experienced a setback during the week ended Feb. 11 as the taking of profits and overbought market conditions encouraged selling. The price setback seen in Chicago Board of Trade (CBOT) soybean and soyoil futures also sparked some of the downward price action seen in canola. Support

In Brief… – for Feb. 10, 2011

Demand exceeds production:Global soyoil consumption is likely to rise above production in the current season with Chinese and European demand remaining strong, Hamburg-based oilseeds analysts Oil Worldforecast Feb. 2.Oil World forecasts global Oct. 2010-Sept. 2011 soyoil production at 41.91 million tonnes, below estimated consumption of 41.98 million tonnes. “World consumption of soyoil continues to grow


StatsCan Canola Data Shows Less Supply, More Demand

Canola futures on the ICE Futures Canada trading platform posted some significant advances during the week ended Feb. 4, with new contract highs established in a number of months. Strong domestic processor demand for canola, along with continued strong export interest, helped to stimulate some of the strength. Adding to the upward price momentum were

Canada Crop Stockpiles Shrink After Smaller Crops

Stockpiles of wheat and canola in Canada, a leading exporter, shrank slightly more than expected at Dec. 31 from a year earlier due to smaller crops, Statistics Canada said Feb. 4, underscoring tight global supplies that have pushed up food prices and sparked protests. Stocks of all wheat in grain bins and country elevators were


Food Costs At Records, UN Warns Of Volatile Era

Record-high global food prices showed no sign of relenting following a rash of catastrophic weather, highlighted by a major U.S. snowstorm and a cyclone in Australia, which could put yet more pressure on prices and spark further unrest around the world. The closely watched UN Food and Agriculture Organization Food Price Index touched its highest

Wheat Growing Makes Comeback In Minnesota

Fields of barley, oats, rye, triticale, and winter and spring wheat could be seen from Rochester to Grand Forks until the early 1990s, when they all but disappeared from southern and central Minnesota. What once was old is new again. In the past six to seven years, the University of Minnesota has heard an increasing


More Canola Acres Expected

Agriculture and Agri- Food Canada is expecting the area seeded by Canadian farmers to canola in the spring of 2011 will be up from the level seen at the same time in 2010, according to its first acreage outlook released Jan. 28. The market analysis branch of Agriculture Canada cautioned, however, that the actual area

Wheat Deficit, Corn Surplus Seen In 2011-12

Global wheat production should rebound in 2011- 12 but still fail to match demand, leading to a further drawdown in stocks and rising prices, Societé Generale analyst Emmanuel Jayet said in a report Feb. 7. “The continuing trend of decreasing global stocks, the possible failure of the U.S. harvest, the poor crop prospects of the