MarketsFarm — A roller-coaster type of week for grain markets, fuelled by the ongoing conflict between Ukraine and Russia, ended with slightly higher bids for western Canadian wheat for the week ended Thursday. As optimism grew over the renewal of Russia’s agreement to allow Ukrainian grain shipments on the Black Sea, wheat futures on the […] Read more
Prairie cash wheat: Bids steady following Ukraine volatility
U.S. wheat futures up on week
Cold, snowy start seen to Prairies’ winter
MarketsFarm — Although the official calendar start to winter isn’t until Dec. 21, conditions on the Canadian Prairies are now winter-like, according to Weatherlogics chief scientist Scott Kehler. “For the month of November, it looks like we’re off to a cold start for most of the Prairies. The western Prairies… had quite a significant winter […] Read more
Ukraine keeps 2023 winter wheat sowing area forecast unchanged despite delays
Kyiv | Reuters – Ukraine is keeping its forecast of the winter wheat sowing area for the 2023 harvest unchanged at 3.8 million hectares despite a delay caused by unfavourable weather, deputy agriculture minister Taras Vysotskiy told Reuters on Tuesday. Ukraine sowed more than 6 million hectares of winter wheat for the 2022 harvest, but […] Read more
Prairie cash wheat: Bids dip with U.S. futures
Loonie down 0.4 U.S. cent on the week
MarketsFarm — Spring wheat bids in Western Canada moved lower during the week ended Thursday, as losses in U.S. futures and a firmer tone in the Canadian dollar weighed on values. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down $2-$4.50 per tonne during the week, according to price quotes […] Read more
U.S. winter wheat growers seed into dust as Plains drought persists
Chicago | Reuters — With seeding roughly halfway complete, the 2023 U.S. hard red winter wheat crop is already being hobbled by drought in the heart of the southern Plains, wheat experts said. Seeding plans may be scaled back in the U.S. breadbasket despite historically high prices for this time of year, reflecting rising global […] Read more
Prairie cash wheat: Prices swing higher on U.S. gains
Canadian dollar down on week
MarketsFarm — Wheat prices on the Canadian Prairies were higher for the week ended Thursday. As Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats had modest upticks, Canada Western Amber Durum (CWAD) incurred double-digit increases. Gains in the U.S. wheat complex provided support, with a weaker Canadian dollar also underpinning values. […] Read more
Alberta harvest on the verge of completion
MarketsFarm – Combining in Alberta is almost finished with the latest crop report indicating it’s at 96.3 per cent complete. The province’s Agriculture, Forestry and Rural Economic Development (AFRED) department noted that as of Oct. 4, the harvesting of all crops advanced nine points from the previous week due to dry weather. Of the 11 […] Read more
Prairie cash wheat: Weaker loonie underpins bids
U.S. wheat futures down on week
MarketsFarm — Spring wheat bids in Western Canada strengthened during the week ended Thursday, as sharp declines in the Canadian dollar boosted basis levels and more than made up for the bearish influence of softening U.S. futures. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $4.10-$5.40 per tonne […] Read more
Prairie cash wheat: External factors raise bids
U.S. wheat futures gain on the week
MarketsFarm — Despite the usual harvest pressures, western Canadian wheat bids jumped during the week ended Thursday, largely due to geopolitical and macroeconomic factors. The U.S. Federal Reserve on Wednesday again raised its key interest rate to combat rising inflation — this time a 75 basis point increase, to 3.25 per cent. The rate hike […] Read more
Prairie cash wheat: Bids move higher
U.S. wheat futures gain on week
MarketsFarm — Spring wheat bids in Western Canada strengthened during the week ended Thursday, as gains in U.S. futures and weakness in the Canadian dollar provided support. The advances came despite seasonal harvest pressure and an upward revision to Statistics Canada’s production estimate for the country’s spring wheat crop. Average Canada Western Red Spring (CWRS, […] Read more
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