GFM Network News

Low flax supply doesn’t mean price increase

The latest production estimates in flax are lower than originally projected, but that doesn’t mean the market will see a large increase in value. In its Aug. 24 report, Statistics Canada said there were 365,000 tonnes of flax grown in Canada in 2011 — lower than trade estimates which ranged from 445,000 to 531,000 tonnes. […] Read more

Feed barley expecting harvest pressure

With harvest operations getting ready to being across the Prairies, the price of feed barley has seen a decline of late, and more losses are expected to occur in the next six weeks to two months. Errol Anderson, president of Pro Market Communications in Calgary, said bids are currently bringing around $200 per tonne, but […] Read more

ICE Futures Canada not worried about MGEX plans

The Minneapolis Grain Exchange (MGEX) has announced it will drop the U.S. origin stipulation for wheat delivered against its Hard Red Spring wheat (HRSW) futures contract by May 2013 — which could take business away from the planned spring wheat futures contract on the ICE Futures Canada platform. However, Brad Vannan, president of ICE Futures […] Read more

Canola crush margins rising

Canola crush margins in Canada have steadily increased over the past week, thanks to ongoing demand from domestic processors, as well as a sharp decline in the Canadian dollar. Canola crush margins for the November/October 2011 contract are bringing $97.54 per tonne, $8.90 per tonne higher than just a week ago, according to ICE Futures […] Read more

Flax bids weaken on lower demand

Flax prices in Western Canada have declined over the past month — and given the uncertainty of the global economic situation, that trend may continue into the winter months. Elevator deliveries for flax were bringing as much $13.91 per bushel in Alberta, $13.39 per bushel in Saskatchewan and $13.40 per bushel in Manitoba, according to […] Read more

Chickpeas see gains on global concerns

Poor crops being grown in Australia and Turkey have led to a significant increase in the value of chickpeas in Western Canada. Omer Al-Katib, director of corporate affairs and investor relations with Alliance Grain Traders in Regina, said the two nations have had separate problems this year, which have led to a jump in the […] Read more

Pea prices sharply higher from year ago

The run-up in commodity prices over the last year has not left peas by the wayside, as the value of both yellow and green peas has seen a sharp jump over the last 12 months. According to data from Prairie Ag Hotwire, elevator bids for green peas are bringing as much as $8.75 per bushel, […] Read more

Manitoba to see hot, dry July, forecaster says

Swamped by well-above average rainfall throughout the spring, the wet areas of Manitoba have been able to dry out — for the most part — over the past month or so. Drew Lerner, president of World Weather Inc. in Kansas City, said a drying bias is underway in the keystone province, and it should continue […] Read more

Canada to set new canola oil export record

Canadian canola oil exports are projected to have more than doubled over the past six years, as Canada’s domestic crush has increased, and demand continues to grow. Back in 2004-05, Canada exported 900,000 tonnes of canola oil, while in 2010-11 the country is pegged to export 2.34 million tonnes, which would be a new record. […] Read more

Canola exports to decline as supplies tighten

Canadian exports of canola are projected to decline for a third consecutive year in 2010-11 and a fourth straight year in 2011-12, according to Agriculture and Agri-Food Canada. However, the lower export numbers are not for lack of demand. Canada is forecast to export 7.1 million tonnes of canola seed in 2010-11, and seven million […] Read more