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USDA report surprises oilseed market
Grain Markets, Markets

USDA report surprises oilseed market

Traders were expecting a lower yield number and when they didn’t get it, they reacted

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ICE Futures Canada canola contracts may have finally topped out after the USDA’s monthly supply-and-demand report put the entire oilseed sector under pressure. Canola futures began climbing back in the early part of September, eventually rising above the $520-per-tonne mark. However, that changed on Thursday, November 9, when the USDA left its prediction for soybean
Everyone needs to be a trade policy expert
Opinion

Everyone needs to be a trade policy expert

Time for those who have benefited from free trade to stand up for it

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Inattention, indifference and inaction are no longer options for those in agriculture with regard to U.S. foreign policy. Free trade has remained a key, philosophical driver for U.S. feed grains for decades, benefiting corn, barley and sorghum growers — among many other commodities. Now, agriculture must answer the call to defend trade and the rewards
News

C-49 Transportation Modernization Act off to Senate

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Bill C-49, the Grain Modernization Act, has passed third reading in the House of Commons and now goes to the Senate for debate. Farmers and grain companies hope if it becomes law the railways will be obliged to sign level-of-service contracts backed by financial penalties. Read more: Mixed reactions from farm groups to Bill C-49
Hard red spring wheat bids firm on Prairies
Grain Markets, Markets

Hard red spring wheat bids firm on Prairies

Basis levels varied a bit, but in general remained steady within an established range

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Hard red spring wheat bids in Western Canada rose for the week ending Nov. 3, tracking action in the U.S. futures. Depending on the location, average Canada Western Red Spring (13.5 per cent protein CWRS) wheat prices were up C$3 to C$5 per tonne across the Prairie provinces, according to price quotes from a cross-section
Fence and canola crop
Grain Markets, Markets

An up-and-down week for canola prices

Prices hit highs not seen since summer but fell back by the end of the week

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ICE Futures Canada canola futures touched some of their best levels since July during the week ended November 3, but ran into resistance at the highs and were right back where they started by Friday’s close. The January contract hit a session high of $522.50 per tonne on November 2, but was back below the
Aid refusal fuels flames of western alienation
Our History

Aid refusal fuels flames of western alienation

Our History: November 1999

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Farm income, or the lack of it, dominated our pages in the fall of 1999. The November 4 issue reported on angry comments from a group of western farmers who had visited Ottawa to ask for $1.3 billion in aid. They met with Prime Minister Jean Chrétien, Agriculture Minister Lyle Vanclief and other ministers, and
USDA forecast puts soybeans in uncharted territory
Comment/Feedback, Oilseeds

USDA forecast puts soybeans in uncharted territory

Acreage is up but production down in the latest USDA monthly crop production report

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Just when analysts thought they had figured out the pattern in the U.S. Department of Agriculture’s U.S. soybean forecasts, the agency’s latest estimate broke form and created even more uncertainty in the market. In its monthly U.S. crop production report on Oct. 19, USDA increased harvested area of the oilseed by 740,000 acres but lowered
Wheat bids rise across Prairies as loonie dips
Grain Markets, Markets

Wheat bids rise across Prairies as loonie dips

December spring wheat was up 5.75 U.S. cents on the week in Minneapolis

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Hard red spring wheat bids in Western Canada rose for the week ending Oct. 27. A drop in the Canadian dollar and gains in Minneapolis futures propped up prices. Depending on the location, average Canada Western Red Spring (CWRS, 13.5 per cent) wheat prices were up $11-$13 per tonne across the Prairie provinces, according to
U.S. biofuel trade fight benefits canola futures
Grain Markets, Markets

U.S. biofuel trade fight benefits canola futures

ICE Futures Canada pulls the plug on barley and wheat

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ICE Futures Canada canola contracts climbed to their highest levels in more than two months during the week ended Oct. 27, as declines in the Canadian dollar and gains in U.S. soyoil provided double the support. The currency was the biggest driver, falling below 78 U.S. cents for the first time since July. The drop
Is a strong loonie a bad thing for Canadian farmers?
Markets

Is a strong loonie a bad thing for Canadian farmers?

There’s no doubt our currency’s fluctuation has effects, but they’re not always well understood

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From a high of 1.10 to lows of 60 cents per U.S. dollar over the past several decades, the value of the loonie has always had an impact on Canadian farmers. While these fluctuations certainly will influence crop prices we receive here in Canada, what effect does it really have? Is a strong loonie really

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