MarketsFarm — The last vessel of the shipping season will depart the Port of Thunder Bay on Friday. Grain handling volumes were down on the year, but increases in other categories helped limit the overall reduction in movement through the northern Lake Superior port. The 2021 navigation season will come to a close with the […] Read more
Thunder Bay shipping season wraps up
Colder-than-normal Prairie winter forecast
MarketsFarm — Colder-than-normal temperatures are in the long-range forecast across Western Canada over the next three months, while much of Eastern Canada should be warmer. The latest seasonal forecast from Environment Canada, released Friday, calls for a 50 to 90 per cent chance of below-normal temperatures from January through March for the four western provinces. […] Read more
Record amount of grain moved, CN goes over revenue limit
The Canadian Transportation Agency (CTA) recently ruled that Canadian National Railway exceeded its maximum grain revenue entitlements for the 2020/21 crop year. Meanwhile, the CTA stated that Canadian Pacific was under its entitlement. The CTA’s report stated that CN’s revenue from transporting Western Canadian grain was nearly C$1.045 billion and was C$2.4 million over its […] Read more
Canadian canola oil content well below average
Canada’s hot and dry growing season in 2021 cut into the oil content of the country’s canola crop, with preliminary data pointing to the second-lowest oil content of the past two decades. Preliminary sample data compiled by the Canadian Grain Commission shows average oil content for number one quality canola in 2021/22 at 41.9 per […] Read more
ICE canola futures’ daily limit expanded to $60
MarketsFarm — The daily price limit (DPL) for canola futures contracts on the ICE Futures platform will rise to $60 per tonne starting Nov. 1, the exchange announced Tuesday. The DPL determines how much a contract can move in a given session above or below the previous settlement. The new level compares with the current […] Read more
Tight U.S. soybean, corn stocks still beat expectations
MarketsFarm — Soybean and corn ending stocks in the U.S. may have been down sharply from the previous year, but still came in above trade expectations in the U.S. Department of Agriculture’s quarterly stocks report. That data in turn weighed on futures prices at the Chicago Board of Trade. Soybean stocks in the country as […] Read more
Thunder Bay reports rare inbound grain shipment
MarketsFarm — Grain movement at the Port of Thunder Bay included a rare inbound cargo of feed wheat, according to the port’s latest monthly report. A 12,000-tonne shipment of feed wheat was delivered to Richardson’s Current River elevator from the company’s facility in Hamilton, Ont. The wheat was said to be destined for Manitoba feedlots, […] Read more
Drought conditions improve in May for some of Prairies, not all
MarketsFarm — Significant precipitation through May relieved drought conditions across parts of the Prairies, while other areas remained significantly dry, according to the latest assessment from the Canadian Drought Monitor as of May 31. This precipitation improved soil moisture conditions for the short-term, decreasing the area of moderate (D1) and severe drought (D2) in central […] Read more
IGC expects larger world grain crop but tighter stocks
MarketsFarm — World grain production is forecast to hit a new record in 2021-22, but increasing demand should still cause ending stocks to tighten to their lowest level in seven years, according to updated projections from the International Grains Council. Total grain production — which includes wheat, corn and other coarse grains — is forecast […] Read more
USDA expects record world wheat crop in 2021-22
MarketsFarm — The latest U.S. forecast puts world wheat production at a new record in 2021-22, with bigger crops in a number of countries more than offsetting expected decreases in Canada and Australia. According to the first outlook for the marketing year from the U.S. Department of Agriculture, total world wheat production for 2021-22 is […] Read more
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