MarketsFarm — Very few major changes were made in the latest edition of the world agriculture supply and demand estimates (WASDE) published Friday by the U.S. Department of Agriculture. For the 2023-24 crop year, USDA pegged total domestic wheat production at 1.665 billion bushels, slightly higher than the 1.659 billion in the department’s May estimates. […] Read more
USDA’s June WASDE report brings few notable changes
Canadian wheat harvest expectation unchanged
U.S. grains: Soybeans up as soyoil touches one-month high
Traders watch U.S. crop weather forecasts
Chicago | Reuters — Chicago Board of Trade soybean futures exceeded a three-week high on Friday as demand from end-users helped push soybean oil above a one-month peak, traders said. Spillover support from soyoil’s rally lifted soybeans while corn futures slumped, traders said. Soyoil has advanced more than 22 per cent since dropping on May […] Read more
Prairie Forecast: Switch in pattern but summer sticking around
Forecast issued June 7, covering June 7-14
The weather models are doing a good job handling all the heat and humidity that has been driving thunderstorms and breaking temperature records across the eastern half of the Prairies over the last week. To the west it has been a little cooler and drier, with not as much instability to deal with, but nonetheless, […] Read more
Philippines to host Canada’s Indo-Pacific ag office
AAFC/CFIA base to be set up in Manila, Bibeau says
Canada’s agriculture department and food safety agency will carry out their part of the federal government’s Indo-Pacific strategy from a new office in Manila, Philippines. Federal Agriculture Minister Marie-Claude Bibeau announced the office’s location Wednesday in Ottawa during a meeting with the Canadian Agri-Food Trade Alliance (CAFTA), which represents Canada’s export-dependent ag commodity groups on […] Read more
U.S. grains: Wheat futures rebound
Corn, soybeans close firm
Chicago | Reuters — U.S. wheat futures rose on Thursday, bouncing back from a sharp sell-off a day earlier on support from technical buying and concerns about supply disruptions stemming from the Russia-Ukraine war, traders said. Corn and soybeans also closed in positive territory, with old-crop contracts supported by expectations that supplies will remain tight […] Read more
International help rolls in to fight unyielding Canadian wildfires
Almost 80 of Quebec's fires currently out of control
Ottawa | Reuters — Allies around the world are promising to boost support for Canada’s fight against hundreds of blazes amid the country’s worst-ever start to wildfire season, which is fueling concerns about the worsening consequences of climate change. Forest fires continued to burn across Canada on Thursday, forcing thousands of people from their homes […] Read more
Feed weekly outlook: Market in a waiting game
U.S. corn, available wheat keep market supplied
MarketsFarm — The feed grain market in Western Canada is holding relatively steady for the time being as both buyers and sellers wait to get a better handle on new-crop production. “It’s a waiting game at this point between the farmer and the feedlot,” said grain merchant Jay Janzen of CorNine Commodities at Lacombe, Alta. […] Read more
Kremlin says ammonia pipeline blast negative for Black Sea grain deal
Russia had sought transit for ammonia via Ukraine
Moscow | Reuters — The Kremlin said on Thursday that there would be a “negative impact” on the fate of a Black Sea grain deal from a blast which damaged a pipeline used to export Russian ammonia via Ukraine that Moscow wants restarted. The Togliatti-Odesa pipeline, which once pumped up to 2.5 million tonnes of […] Read more
Brazil justice grants Congress more time on bill limiting Indigenous rights
Case pits Indigenous against Big Ag
Brasilia | Reuters — A Brazilian Supreme Court justice on Wednesday asked for more time to study a case pitting the country’s Indigenous people against its powerful farm sector, a decision that is likely to give lawmakers more time to pass a measure favouring Big Agriculture. The decision by Justice Andre Mendonca, an Evangelical pastor […] Read more
U.S. grains: Wheat futures snap winning streak
Corn weak, soybeans mixed
Chicago | Reuters — U.S. wheat futures fell on Wednesday, with the most-active Chicago Board of Trade soft red winter wheat contract snapping a five-session rally that had pushed prices to their highest in nearly three weeks, traders said. But concerns about export demand for U.S. supplies pulled wheat prices lower, with high-protein offerings notching […] Read more