Chicago | Reuters — U.S. corn futures hit their highest levels in nearly two months and soybeans hit a one-month high on Thursday as forecasts for continued dry weather in portions of the Midwest crop belt raised concerns about yield prospects, analysts said. Chicago Board of Trade (CBOT) wheat futures surged about five per cent […] Read more
U.S. grains: Corn, soy futures soar on dry weather worries
Prairie Forecast: Alberta low looks to dominate
Forecast issued June 14, covering June 14-21
So far, the weather models have been doing a good job with the medium-range forecasts, only falling off late in the forecast period. Of course, in the summer, short-range forecasts can be difficult, especially when it comes to just when and where thunderstorms will develop. I always find it interesting that a forecast could be […] Read more
U.S. grains: Corn, soy, wheat futures sag on demand worries
U.S. winter wheat harvest adds seasonal pressure
Chicago | Reuters — U.S. corn futures and nearby soybean futures fell on Wednesday, backing down from multi-week highs, as traders weighed fears of flagging demand for grains and other commodities against worries about dry Midwest weather curbing crop prospects, traders said. Wheat futures sagged on profit-taking after a four-session advance and seasonal pressure from […] Read more
Ukraine’s farm output could take 20 years to recover, study suggests
Some crop sectors may recover more quickly
Kyiv | Reuters — Ukraine’s agricultural sector could take 20 years or more in parts to recover from the ravages of Russia’s full-scale invasion, according to a Kyiv-based research centre. Ukraine is a major global grower and exporter of wheat, corn, sunflower and sunflower oil, but its production has fallen sharply since the war start […] Read more
U.S. grains: Soybeans reach one-month high on weather woes
Wheat up, corn mixed
Chicago | Reuters –– U.S. soybean futures hit a one-month high on Tuesday on worries about dry conditions in the Midwest hurting crop prospects and spillover strength from crude oil, traders said. Corn futures were mostly higher on the Midwest weather jitters, but the nearby July contract fell on profit-taking and worries about demand for […] Read more
Bunge, Viterra confirm marriage plans
Firms to merge under Bunge banner
The grain handler built out from the foundations of the former Prairie pools is set to be absorbed into one of the world’s biggest grain trading firms in a cash-and-stock deal. After the news leaked out last month, Rotterdam-based Viterra confirmed Tuesday morning it’s “concluded an agreement” to merge into Bunge — the St. Louis-based […] Read more
Drought expands across Canadian Prairies
Dry conditions push eastward in Manitoba
MarketsFarm — Warm and dry conditions across much of the Prairies in May caused drought conditions to worsen, especially in Alberta, according to the latest Drought Monitor report from Agriculture and Agri-Food Canada. As of May 31, an estimated 79 per cent of the Prairie region was classified as abnormally dry (D0) or in moderate […] Read more
U.S. grains: Corn climbs on dry conditions
Wheat follows corn higher, soybeans mixed
Chicago | Reuters — U.S. corn futures rose to a nearly two-month high on Monday as traders fretted about disappointing weekend rains and dry conditions stressing crops in portions of the Midwest crop belt, analysts said. Wheat futures followed, finding additional support from rising tensions in the Black Sea region. Soybean futures settled mixed, with […] Read more
Prairie cash wheat: Hard red spring wheat bids rise
MGEX wheat rally offsets rising loonie
MarketsFarm — Spring wheat bids in Western Canada were mostly higher during the week ended Thursday, as a rally in Minneapolis spring wheat futures countered the bearish influence of a rising Canadian dollar. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $8.80-$10.70 per tonne across the Prairies, according […] Read more
Calgary-area MLA named Alberta’s new ag minister
RJ Sigurdson to handle ag file, Horner moves to finance
The Alberta government’s caucus lead on emergency medical services (EMS) reform has been promoted to handle the agriculture file in a post-election cabinet shuffle. RJ Sigurdson, MLA for the constituency of Highwood, just south of Calgary, was sworn in Friday by Lt.-Gov. Salma Lakhani as Alberta’s new minister of agriculture and irrigation, replacing Nate Horner. […] Read more