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A corn crop in the RM of St. Andrews on July 5, 2018. Current indicators suggest a rebound for corn futures off recent lows.
Grain Markets, Markets

Corn market cracks, but ready to pop

Current low prices may deter some U.S. farmers from planting corn

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Corn appeared to crack under pressure on the Chicago Board of Trade as February came to a close. Having traded between US$6.70-$6.90 per bushel for much of February, collapses in wheat and soy prices, lacklustre U.S. exports and the U.S. Department of Agriculture’s bearish new-crop projections last month placed the May corn contract at a
Grains export push to boost dry bulk shipping market
Markets, News

Grains export push to boost dry bulk shipping market

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Reuters – Bumper soybean harvests in Brazil and unsold grain stocks in the United States are set to boost dry bulk shipping rates as buyers including China restock after supply shocks last year, leading freight operators have said. The dry bulk shipping market has been hit in recent months by slow activity, partly driven by
Cars are buried on Hennepin Avenue in Minneapolis on Feb. 23 by a winter storm that crossed the U.S. northern Plains and Midwest and brought needed precipitation to some winter wheat-growing areas.
Grain Markets, Markets

Price trenches remain despite weather, projected plantings

Most traders expect the Black Sea Grain Initiative to be extended

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North American grain and oilseed markets were up and down during the last full week of February, holding relatively rangebound overall. News of a frost in Argentina sent soybean, corn and canola values climbing higher on Feb. 21, as crop estimates out of the drought-stricken country continue to be revised lower. However, the immediate bullish reaction quickly subsided, and most
“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
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
Farmers should beware industry efforts to further erode the Canada Grain Act’s mandate to assure quality in the producer interest.
Op/Ed, Opinion

Opinion: Grain quality and the producer interest

The CGC’s historical role has slipped, and that’s a problem

By ,
The Canada Grain Act has a dual mandate: to regulate and safeguard the handling and quality of Canadian grain, and to do so in the interests of grain producers. Most farmers are aware of the Act’s provisions that defend their interests at primary elevators – independent arbitration of disputes and producer payment protection, for example
Destroyed grain storage in the village of Kamianka, Kharkiv, liberated from Russian invaders by Ukrainian forces in October 2022. Three very separate, unique and low probability events caused grain prices to rise this time around: pandemic, drought and war.
News

When markets burst, it’s never pretty

We’ve seen plenty of price surges followed by collapses. Are commodities next?

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Over the past few years, if not decades, there’s been a lot of volatility in markets and economies worldwide. You can start 30 years ago with the Asian currency crisis, Russian debt default and Long-Term Capital Management hedge fund collapse in the late 1990s as examples of explosive events in financial markets. Then, as we
A worker watches harvested soybeans 
being loaded off a field 
at Firmat in Argentina’s Santa Fe province in 2021. Recent but variable rains have eased drought concerns for Argentina’s recently planted soy crops.
News

Canola market’s lower end tested

China’s demand outlook remains a question mark

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The lower edge of the well-established trading range for the ICE Futures canola market was tested during the last full week of January, but support was uncovered to the downside and values are rangebound for now. The nearby March contract traded as low as $791 per tonne on Jan. 25 but managed to claw back

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