Chicago | Reuters — Benchmark U.S. corn futures fell to an 18-month low on Wednesday on news that China cancelled purchases of U.S. corn, and as favourable early-season crop weather bolstered projections for bumper U.S. harvests this year, analysts said. Wheat futures tumbled 3.4 per cent after the Black Sea grain deal, allowing for the […] Read more
U.S. grains: Corn hits 18-month low on crop prospects
Chicago wheat tumbles on Ukraine deal
Prairie Forecast: Above-average temperatures to continue
Covering the period from May 17 to 24, 2023
The upper ridge that has been in place over much of B.C. and Alberta over the last few weeks looks to remain in place, at least for a few more days. There are some indications of a shift in the overall weather pattern towards a warm and wetter setup. As predicted, an area of low […] Read more
Black Sea grain deal extended for two months
Agreement has helped to tackle global food crisis
Ankara/United Nations | Reuters — The Ukraine Black Sea grain deal has been extended for two more months, one day before Russia could have quit the pact over obstacles to its grain and fertilizer exports. Turkish President Tayyip Erdogan announced the extension in a televised speech and it was confirmed by Russia and Ukraine. The […] Read more
U.S. grains: Soy, corn tumble on improving crop prospects, export competition
Chicago wheat futures follow downtrend
Chicago | Reuters — U.S. spot soybean futures fell 2.6 per cent on Tuesday to multi-month lows and corn futures slipped nearly two per cent, pressured by decent U.S. Midwest crop weather and strong competition for global export business, traders said. Wheat followed the lower trend. Chicago Board of Trade July soybeans settled down 36-3/4 […] Read more
Loss of Black Sea grain deal not seen as threat to global supplies, for now
Alternate routes exist but would be more expensive
Geneva | Reuters — The end of the Black Sea grain deal would not pose an immediate threat to the world market as Ukraine would still be able to export supplies, although at such a high cost that production in the war-torn country would likely fall even further. Turkey, Ukraine, Russia and the United Nations […] Read more
Cash advance applications soar along with interest rate
With the interest-free portion being upped to $350,000, producers would save thousands — or even invest it
Reading Time: 5 minutes There’s been a surge in the number of farmers seeking cash advances thanks to soaring interest rates and a big increase in the interest-free portion of the loan. And the deal might even be tempting farmers who don’t need an operating loan. On April 3, the opening day of the 2023 program, the Canadian Canola […] Read more
Go bigger on interswitching pilot, grain groups urge Ottawa
Railways contend the measure creates inefficiencies, but farm groups say the opposite is true
Reading Time: 2 minutes Farm groups from across the country are asking producers to lobby federal ministers and MPs and urge them to super-size a government proposal for what’s called “extended interswitching.” The measure, part of this spring’s federal budget, essentially gives grain shippers a choice in which railway they deal with, as long as the competitor’s line is […] Read more
U.N. efforts to save Black Sea grain deal to continue in coming days
Russia demands include restarting ammonia pipeline
United Nations | Reuters — The U.N. aid chief said on Monday efforts will continue in coming days to extend a deal allowing the safe Black Sea export of Ukraine grain, a pact Russia has threatened to quit effective Thursday over obstacles to its grain and fertilizer exports. The final two ships are due to […] Read more
U.S. grains: Wheat rises four per cent on U.S. crop outlook
Chicago corn, soy futures climb
Chicago | Reuters — U.S. wheat futures rose about four per cent on Monday, supported by a lower-than-expected official forecast of U.S. supply next season and doubts over the renewal of a deal on the shipping corridor from Ukraine before a deadline this week. Corn and soybean futures also advanced, supported by strength in wheat […] Read more
Prairie Forecast Update: Forecast on track
Forecast issued May 14, 2023, covering the half-week stretch from May 14 to 17, 2023
The weather models have been remarkably accurate for this time of the year. The big weather picture remains the same. There is a large, persistent ridge of high pressure over far Western Canada with an equally persistent trough of low pressure over Eastern Canada. This means western regions will continue to see sunny, dry and […] Read more