GFM Network News


“The way forward has been deeply clouded by the second wave and renewed restrictions, so growth will cool considerably in Q4.” – Doug Porter, chief economist, BMO Capital Markets.

Canada economy grew through September, but way forward ‘clouded’

As the pandemic’s second wave arrives uncertainty abounds

The Canadian economy grew in both August and September, with the August gain slightly above expectations, but a rise in COVID-19 infections, along with targeted restrictions to curb the virus, are expected to put a lid on economic activity into the fall. Canada’s real GDP rose 1.2 per cent in August, ahead of analyst estimates

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


Canary seed supplies tighten

'Hidden' stocks of product seen shrinking

MarketsFarm — Canary seed stocks are presently tight for two reasons: unreported inventories have been used up, and poor yields from this year’s crop. David Nobbs of Purely Canada Foods in Saskatoon explained there was a “hidden inventory over the last four to five years,” never reported to Statistics Canada, that was used to meet

We are just coming out of an era in which we have been bent on buying the cheapest food products.

Comment: Higher grocery bills a fact of life

Many grocery categories have seen price increases at a rate much higher than general inflation

Every month, Statistics Canada reminds us that life is getting more expensive. But for food, the situation has been unique over the last few decades. Based on numbers released recently, the price of a typical grocery basket has increased by about 240 per cent since 2000. Some will think that such a percentage is expected,

Canadian corn, soybean stocks increase

MarketsFarm — New stats show larger soybeans and corn stocks in Canada as of July 31 when compared to the same time last year. Statistics Canada issued its updated report on stocks of grain and oilseeds on Tuesday morning. The federal agency said combined farm and commercial stocks of corn rose by over 29 per


AAFC lowers wheat carryout estimate, raises canola

MarketsFarm — Updated supply and demand estimates from Agriculture and Agri-Food Canada call for tighter wheat carryout for the 2020-21 crop year than previous forecast — and more canola. Tursday’s report provides the first adjusted balance sheet estimates from the government agency that account for the latest production numbers from Statistics Canada released earlier in

China’s interest in buying soybeans, particularly from Brazil and the U.S., has recently helped push soy futures above US$10 and in turn lifted ICE November canola.

China’s demand for soybeans bodes well for canola values

Provinces’ estimates suggest lower canola yields than what satellites are seeing

ICE Futures canola contracts continued their month-long climb during the week ended Sept. 18, hitting their strongest levels in two years. The November contract moved above $530 per tonne during the week, marking the first time the front-month contract had settled above that point since June 2018. The contract has risen by nearly $50 per

Pulse weekly outlook: Chickpea production expected up in 2021

MarketsFarm — Following an expected 11.4 per cent drop in Saskatchewan’s chickpea harvest this year, provincial pulse specialist Dale Risula is expecting an increase in 2021. In Statistics Canada’s most recent field crop report, issued last week, chickpea production in Saskatchewan was estimated to have dropped from 224,600 tonnes in 2019 to 199,010 tonnes this



StatsCan adjusts expected corn, soy harvests upward

Satellite models predict higher yields on fewer acres

Statistics Canada’s latest batch of satellite-modelled crop data includes slightly raised expectations for Canadian corn and soybean harvests this fall. StatsCan on Monday released model-based principal field crop estimates for the period ending Aug. 31, suggesting higher soy and corn numbers than seen in its Production of principal field crops report released Aug. 31, which