MarketsFarm — ICE Futures canola contracts climbed to fresh contract highs during the first week of April, but ran into profit-taking resistance and could be due for more losses as the market looks overpriced. “We’re starting to see canola give back some of the extra premium it’s been putting on,” said Ken Ball of PI […] Read more
ICE weekly outlook: Overvalued canola market due for correction
USDA reports offer new oilseed insights from India, Japan
MarketsFarm — The Foreign Agricultural Service of the U.S. Department of Agriculture (USDA) released its weekly Global Agricultural Information Network (GAIN) reports on Wednesday, including new information regarding oilseeds in India and Japan. Oilseed production in India is projected to increase by one per cent at 42.1 million tonnes in 2022-23, according to FAS New […] Read more
Australian canola production heading downward, but still sizeable
New second-biggest harvest expected, USDA predicts
MarketsFarm — Despite canola production in Australia being set to drop 26 per cent in 2022-23, the country’s farmers are still projected to harvest the second largest crop, according to the U.S. Department of Agriculture’s attaché in Canberra. In the attaché’s report, released Monday, canola production for the coming crop year was projected to be […] Read more
Canola exports turn tiny as Canada running out
MarketsFarm — There was a tremendous drop in canola exports from Canada during week 34 of the 2021-22 marketing year, according to the Canadian Grain Commission. The commission’s report issued Thursday showed a mere 800 tonnes of canola were shipped overseas. The week before, 128,300 tonnes were outbound. “We’re really getting close to running out,” […] Read more
Premiums soar after crop insurer hit by $2.7-billion loss
Higher crop prices are driving a big part of the 37 per cent (or higher) hike, but drought hit hard, too
Reading Time: 4 minutes The cost of annual crop insurance is soaring by an average of more than 37 per cent this year — and many farmers could be facing an even higher bill. “An average 1,500-acre Alberta farm growing a mixture of crops will see increased premium costs of approximately 54 per cent for annual insurance and hail […] Read more
ICE weekly outlook: Canola in its own world, analyst says
MarketsFarm — To market analyst Wayne Palmer of Exceed Grain, canola “has been in a world of its own for about the last month,” and he expects that will remain the case for some time. Canola, he explained, has generally done the opposite of the Chicago soy complex — which the Canadian oilseed normally follows. […] Read more
Seedpod weevil numbers down in 2021
Reading Time: < 1 minute Cabbage seedpod weevil numbers in 2021 were lower than normal for the fourth year in a row, but canola growers in southern and south-central Alberta should still be on guard. A survey of 225 fields last summer (when canola was at 20 to 25 per cent flower) found that even in the south, numbers were […] Read more
Saskatchewan budget aims to spur ag investment
Potash, crude oil resource revenues help cut deficit
Sweetening existing tax credits on big-ticket investments, and setting up a new Crown corporation to support Indigenous investors, are among the items expected to help encourage new value-added ag projects in Saskatchewan’s latest budget. Provincial Finance Minister Donna Harpauer on Wednesday released her 2022-23 budget with $17.6 billion in expenditures on $17.2 billion in revenues, […] Read more
ICE weekly outlook: Strong canola market to ‘see both sides of rainbow’
MarketsFarm — ICE Futures canola contracts climbed to their highest levels ever during the week ended Wednesday before running into some profit-taking resistance. Its general uptrend remains intact for the time being, but a downturn is also inevitable. The nearby May canola contract hit a session high of $1,177.80 per tonne on Wednesday, before backing […] Read more
Get a tax credit on checkoffs
Reading Time: < 1 minute Crop commissions are reminding growers that they can get a tax credit for their checkoffs. The Scientific Research and Experimental Development Fund (SR&ED) program is based on the percentage of a checkoff that is used for crop research and development — an amount that varies for each crop. For barley, every $100 in 2021 checkoffs […] Read more
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