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(Dave Bedard photo)
Crops, Markets, Weather

Canola declines, durum drops in new StatsCan estimates

Soybean, oats estimates raised

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MarketsFarm — There were very few surprises in Statistics Canada’s latest principal field crop production estimates released Friday — the first in 2021-22 to use a survey of producers. Nevertheless, they quantified just how severe last summer’s drought was in Western Canada. Canola production for the 2021-22 marketing year was estimated to be 12.595 million
Photo: daoleduc/iStock/Getty Images Plus
Markets, Other

Canada economy seen weaker than expected as supply chain woes weigh

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Ottawa | Reuters – The Canadian economy most likely underperformed expectations in the third quarter amid ongoing supply chain woes and a brutal drought, official data suggested on Friday, prompting analysts to forecast the Bank of Canada could move slower on rate hikes. The economy expanded by 0.4 percent in August, missing estimates, and looked
A rapeseed field at Adlersberg near Munich on May 11, 2003. European rapeseed futures have recently touched contract highs, to the further benefit of ICE canola values.
Grain Markets, Markets

Canola futures to resume rising

Fundamentals support a continued climb following a setback last week

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After several days of gains, ICE Futures canola took an inevitable double-digit step back on Oct. 21. Despite the extremely tight supply situation in Canada, canola was bound to take a breather, as profit-taking was thought to have driven down prices on that Thursday. However, it’s unlikely the Canadian oilseed will continue to push lower.
Market undercurrents in the food sector may be harder to pick up now than five or 10 years ago.
Comment, Op/Ed, Other

Comment: Lowballing food inflation

Evidence is mounting that StatCan may not be reflecting reality

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If you think food prices are increasing at a much faster pace than what Statistics Canada is suggesting, you are likely not imagining it. For a few years now, many Canadians suspected that the federal agency was either underestimating our food inflation rate, or that there was some sort of lag between what was going
Crop production in Manitoba will be down in 2021 due to extreme heat and dry growing conditions, but Statistics Canada’s latest estimates offer some hope for higher-than-expected yields.
News, Other

Manitoba yields down, but still ahead of Saskatchewan, Alberta

StatsCan cut Manitoba yield estimates for most crops in its Sept. 14 report, but raised soybeans and corn yields

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Statistics Canada’s latest estimate of Manitoba crop yields are down for most crops, with two main exceptions: soybeans and grain corn. As in its previous report, StatsCan expects most Manitoba crops will yield better than those in Saskatchewan and Alberta. Still, while some experts say these latest yield estimates are likely closer to reality than
One Canada Square (tower at centre) houses the London head office of the International Grains Council. (Iliffd/iStock/Getty Images)
Crops, Markets

Grains council tweaks numbers in latest supply and demand data

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MarketsFarm — The International Grains Council (IGC) released its monthly supply and demand report Thursday, projecting a six million-tonne increase in total global grain production at 2.289 billion tonnes in 2021-22. That change consisted of a seven million-tonne increase in global corn production, offset by a one million-tonne decrease in world wheat output. Soybean production
(Vonkara1/E+/Getty Images)
Crops, Markets

Interview: Counting crops in advance

Reviewing the latest from StatsCan and USDA

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Statistics Canada on Tuesday released new model-based estimates for the country’s principal field crops, projecting “substantial” yield declines for most of the major crops grown in Canada, due mainly to drought conditions across much of Western Canada during much of the growing season. The previous Friday, the U.S. Department of Agriculture released its latest world
ICE November 2021 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Crops, Markets

ICE weekly outlook: Canola remains rangebound

Trade predicts even smaller production

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MarketsFarm — At least for the foreseeable future, ICE Futures canola is likely to remain rangebound, according to analyst David Derwin of PI Financial in Winnipeg. The November canola contract has support at $850 per tonne and when it bumps up to around $900 it’s quickly pulled back, he said. “Sideways is not very exciting,
CBOT December 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)
Crops, Markets

U.S. grains: Wheat firms on global supply cuts

Corn inches higher as U.S. crop ratings decline

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Chicago | Reuters — Chicago wheat futures firmed two per cent on Tuesday, strengthened by global supply concerns amid strong demand, while a weaker U.S. dollar supported U.S. trade. Corn inched higher after a weekly decline in U.S crop conditions reported by the U.S. Agriculture Department (USDA). Soybeans traded both sides of even before easing
File photo of a pea crop south of Ethelton, Sask. on Aug. 1, 2019. (Dave Bedard photo)
Crops, Markets, Pulses, Weather

Pulse weekly outlook: Small Canadian crops lead to marketing shift

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MarketsFarm — Canadian pulse markets could see a ‘radical shift’ in the current crop year as drought conditions led to sharp reductions in pea and lentil production. Statistics Canada’s September principal field crop estimates, released Tuesday, and the previous report on Aug. 30 were determined by yield models using satellite imagery. MarketsFarm Pro analyst Mike

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