GFM Network News


Much of the Prairie region is heading into seeding experiencing varying levels of drought, which may be a factor guiding new-crop values in coming months.

Old-crop canola trends upward through volatility

Traders’ attention is now focused on the new crop – and its potential limitations

A ‘casino,’ a ‘craps table’ or just plain ‘crazy’ were some of the words traders and analysts used to try to explain activity in the ICE Futures canola market during the first full week of April. Futures saw some wild price swings on an hour-by-hour basis during the week ended April 9, but the general



“The forecast shows dryness returning, which should be well timed for the harvest... ” – Isaac Hankes, Refinitiv.

Coming dry spell in Argentina, after March rains, seen helping harvest

After a prolonged dry period, rains came, but now they’ve broken

Reuters – Rains that have pelted Argentina’s Farm Belt since mid-March halted the deterioration of corn and soy yields, and a coming dry spell will help kick off harvesting of the country’s two main cash crops, climatologists said March 31. The South American grains powerhouse is the world’s No. 3 corn exporter and top supplier

Canola moved upwards in lockstep with soy futures after a surprising planting projections survey.

Up limit spike points to more acres needed

A key USDA report shocked the market and resulted in prices moving upward

Shock and awe rocked the markets on March 31 after the United States Department of Agriculture (USDA) issued its prospective plantings report. The first survey-based projections for 2021 caught the markets largely off guard that Wednesday, which sent prices to their daily limit in several commodities. That not only included the soy complex and corn



Mexico will miss corn output forecast, farmers’ group says

Mexico will miss corn output forecast, farmers’ group says

A direct cash payment program for farmers is panned as insufficient

Reuters – Mexican corn production is likely to total no more than 24 million tonnes this year, significantly less than the government’s forecast, the head of one of the country’s largest corn farmer associations said in an interview. Juan Pablo Rojas told Reuters that the official estimate of nearly 27 million tonnes by the Agriculture

Crops like soybeans, corn and oats are all showing good margins and will compete with canola for acres in Manitoba.

Canola looks pretty profitable, but so do a lot of other crops

Examining Manitoba's break-even yield risk ratio

Before you think we’ll see canola seeded from fence post to fence post this year, it’s good to look at some numbers. And while canola gets a lot of news coverage because of its futures market, the good news this year is that most other crops are showing high prices as well. However, while these

Canada needs a large canola crop this year to restock tight supplies, which doesn’t change the fact that the crop remains expensive to grow.

Canola traders’ attention now turns toward new crop

Upcoming U.S. data could provide some direction in the near term

It’s very hard to know what’s going on,” one trader said of the volatile ICE Futures canola market during the last full trading week of March, as prices were all over the place and a number of rumours circulated in the market. The nearby May contract traded within a $50-per-tonne range during the week, with


The canola market is weighing the notion that commercial traders, by means of high prices, have bought as much from farmers as they possibly can.

It wasn’t a great week for prices, especially old-crop canola

Other edible oils also ate their share of losses during the week

Rather than getting any St. Patrick’s Day luck, ICE canola futures took more of a hit from the Ides of March. Profit-taking was the main feature for the week ending March 18, which drove a knife into prices that had recently hit record highs. After trading above $800 per tonne to start the week, May