The index that determines how much Prairie grain handling revenue Canada’s big two railways get to keep will be raised in the coming crop year, mainly on way-higher-than-expected fuel costs. The Canadian Transportation Agency (CTA) on Thursday announced the volume-related composite price index (VRCPI) for Canadian National Railway (CN) for 2023-24 will be 1.8295, up […] Read more
‘Unexpectedly high’ fuel costs lift railways’ revenue index
VRCPIs for CN, CP increased for 2023-24
U.S. grains: Chicago wheat, corn hit fresh lows
Export competition, China cancellations drag on futures
Mexico City | Reuters — Chicago wheat futures fell for a seventh straight session on Thursday and touched a 21-month low on export competition while corn hit a nine-month low, walloped by cancellations of U.S. corn sales to China. The most-active wheat contract on the Chicago Board of Trade (CBOT) dropped 12-3/4 cents to settle […] Read more
Buy or rent? Land rent-to-price ratio can help farmers decide
FCC sees current ratios on farmland as (roughly) stable
Higher interest rates don’t seem to be affecting the ratio between land values and land rental costs — at least, not yet. Farm Credit Canada’s latest analysis of farmland rental prices says they’re roughly maintaining their traditional linkage, says J.P Gervais, the organization’s chief economist. “We were curious to see whether that would bring up […] Read more
Feed weekly outlook: Grain area to increase this year
Oats area expected to be reduced
MarketsFarm — Early signs point to increased Canadian feed grain production in 2023-24, with record corn acreage intentions and increases in both barley and wheat area on the year, according to the latest estimates from Statistics Canada. Planted corn area in the country is forecast at 3.725 million acres in 2023, which would be up […] Read more
European Commission to ban Ukrainian grain exports to Romania
Talks ongoing with Ukraine's other neighbours
Bucharest | Reuters — The European Commission will ban Ukrainian grain and oilseeds exports to Romania until June 5, Romanian Agriculture Minister Petre Daea said on Wednesday. Romania has stopped short of enforcing a ban, whereas Poland, Hungary, Bulgaria and Slovakia took unilateral steps to protect local markets from a flow of Ukrainian farm products. […] Read more
Russian envoy says no breakthrough on grain deal
Ukraine says Moscow blocking ships
Geneva | Reuters — Russia’s envoy to the United Nations in Geneva on Wednesday said “no real progress” had been achieved in resolving issues raised by Moscow over the Black Sea grain deal, which is set to expire next month. Separately, Ukraine accused Russia of blocking the passage of four grain ships from its Black […] Read more
U.S. grains: Chicago wheat closes down as global supplies look strong
Market monitoring Plains rain relief, Black Sea grain talks
Mexico City | Reuters — Chicago grains and soybean futures closed lower to mixed on Wednesday, as traders eyed sluggish demand and upcoming U.S. export sales data. Wheat fell on news of ample short-term global supplies, despite the risk that an agreement allowing exports from war-torn Ukraine may end next month. Canadian farmers intend to […] Read more
StatCan expects more wheat, canola acres in 2023
Corn, soy, barley acres also expected up
MarketsFarm — Canadian farmers intend to plant more wheat and canola in 2023, with soybeans, corn and barley area also forecast to expand, according to Statistics Canada’s projections for field crop area. The increases in those crops will come at the expense of oats, lentils and peas, with intended summerfallow area down to its smallest […] Read more
U.S. grains: Chicago grains flat or down with weather, Black Sea in focus
Large Russian supplies temper fears over Black Sea deal collapse
Mexico City | Reuters — Chicago grain futures closed flat or lower on Tuesday, with wheat hitting a 21-month low, as markets were weighed down by a dip in stocks and crude oil and clear forecasts for U.S. planting weather, traders said. Corn closed slightly up as the market weighed increasing export competition from Brazil, […] Read more
Analysts expect additional acres for canola, wheat
StatCan estimates due out Wednesday
MarketsFarm — If traders and analysts are correct with their estimates, there will be slightly more wheat and canola acres seeded in Canada this year compared to 2022. Statistics Canada (StatCan) will release its first survey-based acreage estimates for the 2023-24 marketing year on April 26. Other than drier and cooler conditions in southern Manitoba, […] Read more