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


Corn and soy could be in short supply, according to a recent USDA report.

U.S. farmers to plant less corn, soybeans than expected

USDA report sparks futures rise as market reacts to news

Estimates by the U.S. Department of Agriculture (USDA) for corn and soybean plantings at the end of March missed analyst expectations, sending futures prices for both commodities up sharply. Smaller-than-expected acreage for the two main cash crops in the United States will likely increase concerns about global food and animal feed supplies after importers and domestic

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

With the Phase 1 deal in effect and trade relations patched up for the time being, it will certainly raise red flags if China does not start ramping up U.S. soybean purchases in a few months.

Further swine fever outbreaks threaten slow growth in China’s soy demand

Market watchers now worry the disease’s latest impact could be worse than it appears

China is taking in record amounts of soybeans from the U.S. and Brazil as its hog population recovers from a deadly disease that began nearly three years ago, but import expansion into the next marketing year might be minimal. Additionally, China continues to report new outbreaks of African swine fever (ASF). Many market watchers are


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

(Dave Bedard photo)

USDA plans more pandemic programs for disadvantaged farmers

Review found disparities in farm aid distribution

Chicago | Reuters — The U.S. Department of Agriculture said on Wednesday it will dedicate at least US$6 billion to help smaller-scale and socially disadvantaged farmers who were hurt by the pandemic, along with producers of organic food and other specialty crops. The agency said it would also increase by approximately $5.6 billion payments made


Brazil to reap record corn harvest but second crop worries linger

Brazil to reap record corn harvest but second crop worries linger

Reuters – Brazilian farmers will harvest a record corn crop even as growers plant their second corn crop outside the ideal window, Paulo Molinari, an analyst with Safras & Mercado, said in a recent presentation. Total corn production in the 2020-21 cycle is estimated at 113.5 million tonnes, up six per cent from the previous

Argentine farm heartland set for more high temperatures, limited rain

Reuters – Argentina’s central farming region is suffering through high temperatures and little rain, the Buenos Aires grains exchange said ahead of an anticipated cut to its estimates of soybean and corn harvest due to drought. The agricultural heartland of the South American country has suffered a drought for months. Although early-year rains brought partial