GFM Network News

India soybean production said to be lower

Production of the 2020-21 kharif (fall harvest) soybean crop in India should be lower, according to a United States Department of Agriculture (USDA) attaché report. The fall is the only time India harvests soybeans. The attachés, Amit Aradhey and Mariano Beillard, proposed several changes to the official USDA numbers from October including a 10.7 per

Employees working at cargo ship Kypros Land which is loading soybeans to China at Tiplam terminal in Santos, Brazil, March 13, 2017.

Canola futures pressured following month of gains

Canola contracts on ICE Futures were due for a pullback during the week ended Nov. 26, after gaining about $50 throughout the month. Canola prices started the week at $584.10 per tonne, with the January contract gaining over $7 per tonne. After making significant gains during November, market participants expected canola to pull back and

A worker inspects soybeans during the soy harvest near the town of Campos Lindos, Brazil February 18, 2018.

U.S. farmers celebrate soy price surge as Brazil misses out

The Latin America powerhouse missed the upward surge by selling earlier to lock in prices

U.S. farmers sold freshly harvested soybeans directly off their combines for a profit as prices rose to a four-year high this autumn, a welcome change from the losses suffered during the U.S.-China trade war. Strong exports to China as the world’s top soybean importer emerged from lockdown helped push the most active soybean futures contract at the Chicago Board of

A Chinese ship is loaded with soybeans at Port of Santos May 19, 2015.

Domestic and export demand support canola

Guided by bullish chart signals, speculators are adding to their long positions

ICE canola futures kept climbing during the week ended Nov. 20, hitting multi-year highs and showing no signs of slowing the uptrend. Aside from a brief blip on the charts in 2017, when the July contract was expiring, the nearby canola market has not traded above $550 per tonne for any extended period of time since 2013. January canola first settled

Unusually warm temperatures for this time in November have kept farmers’ attention off selling their crops, in turn pushing canola prices higher.

Canola gets bounce off soybeans’ gains

Uncertainty also continues over U.S. soybean acreage

ICE Futures canola made significant gains during the week ended Nov. 5, after starting the week in the red. Canola prices started the week at $534.90 per tonne, with the January contract losing over $7 per tonne. However, unseasonably balmy weather and support from comparable vegetable oils gave prices a much-needed boost throughout the week, and the January

Feed weekly outlook: High demand keeps bids strong

MarketsFarm — Feed grain prices in Western Canada have come off of recent highs but remain “higher than what feeders like to see.” That’s according to Brandon Motz of CorNine Commodities ar Lacombe, Alta., who said feed grains are still in a “high-demand market,” with spot prices for feed barley and wheat around $260-$265 per

China is set to have 51 per cent of the world’s wheat in storage by mid-2021.

Comment: Wheat market looks beyond record stocks

U.S. and Russian crop woes are causing wheat prices to rally despite expected stockpiles

Reuters – Chicago-traded wheat futures have rallied to near six-year highs on strong global demand and unfavourable planting conditions in some major exporters, despite the expectation for record-large stockpiles by mid-2021. Most active CBOT wheat hit US$6.38-1/4 per bushel on Oct. 20, the contract’s highest since Dec. 24, 2014. That is consistent with rising international

Despite its continuing challenges in the Chinese market, overall export traffic in Canadian canola is way up from last year at this time.

‘Strange little rally’ benefits Prairie farmers

Canola values got a boost from traders covering their shorts

It’s rather rare to see canola show a good measure of independent strength, but that happened this month. Contracts reached highs that haven’t been seen in a number of years. For example, the price of ICE Futures’ January canola contract had climbed almost $30 per tonne since the end of September alone. That was preceded