CNS Canada — An upward revision to Canada’s 2015-16 canola crop was widely anticipated in the industry, but Statistics Canada’s latest survey results have surpassed even the most optimistic forecasts — and will lead to major adjustments in the country’s supply/demand balance sheet. StatsCan on Friday pegged the year’s canola production at 17.2 million tonnes, […] Read more
Huge Canadian canola crop beats expectations
Bigger crops anticipated ahead of StatsCan report
CNS Canada –– Canada’s harvest ended up better than expected in 2015-16, with upward revisions expected for the country’s wheat and canola production when Statistics Canada releases its latest survey data Friday. “It turns out that the crop didn’t suffer as much in Alberta and Saskatchewan,” said Jerry Klassen, manager of the Canadian office for […] Read more
Dreyfus family members reported asking to be bought out
London | Reuters –– Members of the founding family of Louis Dreyfus Commodities have asked the majority shareholder of the commodities trader to buy out most of their stake, Britain’s Financial Times newspaper reported Sunday. Quoting sources familiar with the situation, the newspaper said the family members had informed Margarita Louis-Dreyfus of their intention to […] Read more
Low ocean freight rates likely to stick around
CNS Canada –– Ocean freight rates are at some of their lowest levels ever and will likely stay that way for at least the next two years, according to an industry analyst. “We’re near hitting bottom, but just because we hit bottom it doesn’t mean we won’t scrape along it for awhile,” said Jay O’Neil, […] Read more
A crop year that doesn’t look better in the rear-view mirror
Yields could have been worse and quality is pretty good, but this is a year distinctly lacking in high points
Reading Time: 3 minutes Harvest 2015 is, finally, a wrap and the storyline is pretty much the same across most of the province — yields are poor but not as bad as feared, and quality is surprisingly good. The final crop report from Alberta Agriculture and Forestry says yield estimates are higher than first forecast earlier in the summer. […] Read more
Slimmer harvest yields faster deliveries from railways
CNS Canada –– A year ago, Western Canada’s shortline railways were struggling to meet commitments, but this year’s smaller grain production has reduced the stress on rail transporters. “There’s no shortage of cars, and there’s no problems in shipping,” said Sheldon Affleck, president of Regina-based shortline Big Sky Rail. A year ago, rail companies struggled […] Read more
Canpotex sees terminal expansion decision late next year
Winnipeg | Reuters — The new chief executive of Canpotex expects the Canadian potash trader to decide around late 2016 where to expand West Coast terminal capacity, a move that could give it a faster route to Chinese buyers in a highly competitive market. Options include building a $775 million terminal at Prince Rupert, B.C., […] Read more
Baltic Dry Index hits record low
The Baltic Dry Index fell to its lowest levels ever on Friday, which bodes well for the competitiveness of Canadian grain exports. The BDI, a gauge of global ocean freight prices, was quoted Friday at 498 points — the first time the index dipped below 500 since records began in 1985. The index was trading […] Read more
Stronger demand for minor feeds reflected in oats futures
CNS Canada — Oats futures at the Chicago Board of Trade have been creeping higher, which a U.S.-based analyst attributes to increasing demand for minor feed grains. Data from Canada and the U.S. project oat yields to increase from last year, which are capping gains, but at the same time, the demand picture has improved. […] Read more
Running rights on table in CP bid for Norfolk Southern
Canadian Pacific Railway (CP) says it hopes to unclog one of the most infamous rail traffic bottlenecks in the U.S. with a bid to buy railway Norfolk Southern. Confirming a recent news report on its plans, CP announced Tuesday it has sent an offer letter to Virginia-based NS. The Calgary company didn’t disclose any financial […] Read more
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