MarketsFarm — Western Canadian wheat bids were lower throughout during the week ended Thursday, with Canada Western Red Spring wheat seeing the largest declines. Statistics Canada (StatCan) released its first model-based production estimates for 2023-24 on Tuesday. Based on data compiled up to July 31, StatCan estimated total Canadian wheat production at 29.472 million tonnes, […] Read more
Prairie cash wheat: Bids, futures take tumbles
Canadian dollar sees slight gain on week
Feed weekly outlook: Feed barley, wheat prices coming down
Feedlots' use of U.S. corn adds pressure
MarketsFarm — Despite a hot and dry summer across much of the Prairies, prices for feed barley and feed wheat have fallen off over the past month. The high-delivered bid for Alberta feed barley was $8.06 per bushel, $1.42 less than one month ago, according to Prairie Ag Hotwire. Those in Saskatchewan and Manitoba were […] Read more
CBOT weekly outlook: Corn, wheat lower; soybeans move up
Corn, wheat already face harvest price pressure
MarketsFarm — Corn and wheat futures on the Chicago Board of Trade (CBOT) were on the decline during the week ended Wednesday, but those for soybeans were going in the opposite direction until hitting resistance. The December corn contract ended the week 9.75 cents per bushel lower at $4.8075 per bushel (all figures US$). The […] Read more
Pulse weekly outlook: Lentils, peas show large declines in StatCan report
Chickpea, soy production expected up on the year
MarketsFarm — Statistics Canada (StatCan) showed a mostly tightened outlook for Canadian pulses in its first model-based supply/demand estimates for the 2023-24 marketing year. StatCan on Tuesday released those projections, which largely presented a reduction in yields due to ongoing dry conditions on the Prairies. As of July 31, Canadian dry field pea output was […] Read more
Prairie cash wheat: Bids run mixed to higher
Domestic wheat yields now a question mark
MarketsFarm — Bids for Canada Western Red Spring (CWRS) wheat were mixed for the week ended Aug. 10, while those for Canada Prairie Spring Red (CPSR) and durum were on the rise. Scattered showers brought moisture across the Prairies, but attention has now turned to harvesting a wheat crop greatly affected by hot and dry […] Read more
Little change seen in USDA’s WASDE report
U.S. corn, soy, wheat production figures down from July report
MarketsFarm — August figures from the U.S. Department of Agriculture’s (USDA) world agricultural supply/demand estimates (WASDE) provided very few surprises and not much change after their release Friday. However, crop production and carryout estimates were tightened from those in July. USDA’s 2023-24 corn production estimate declined by 209 million bushels from July to 15.111 billion, […] Read more
Feed weekly outlook: Crop conditions, barley demand lower
Prices expected steady to lower for now
MarketsFarm — As combining operations begin, dryness continues to plague crops in many parts of Saskatchewan. But while crop conditions aren’t as bad as they were during the drought of 2021, according to trader Evan Peterson from JGL Commodities in Saskatoon, crops are still very parched. “Southern and western parts are very, very poor. But […] Read more
CBOT weekly outlook: Few changes expected in coming U.S. reports
Trade's expectations already factored into prices
MarketsFarm — Soybeans may see significant changes in new-crop carryout numbers when the U.S. Department of Agriculture (USDA) releases several key reports Friday, but corn and wheat estimates will likely stay put for the most part, according to one analyst. USDA releases both its crop production report and its monthly world agricultural supply/demand estimates (WASDE) […] Read more
Pulse weekly outlook: Average yields expected for Manitoba crops
Beans, soy may still benefit if rain comes
MarketsFarm — Pulse crops in Manitoba fared well against the elements which included sporadic rainfall and normal to below-normal temperatures for much of the past month. Provincial pulse specialist Dennis Lange in Altona said field peas should begin harvesting operations next week. “As far as pea acres go, we’re looking at about 145,000 acres. That’s […] Read more
Saskatchewan Crop Report: Dryness continues as harvest begins
Since April 1, the entirety of the province received 200 mm or less of rain
MarketsFarm – With the exception of a handful of areas, most of Saskatchewan remained dry for the week ended July 31 as harvest operations began in the province’s southwest and west-central regions. Areas north of Prince Albert and northwest of Kindersley, as well as inside and around Hudson Bay each saw more than 30 millimetres […] Read more
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