MarketsFarm — The prospect of rain over drought-stricken southern Alberta, with Calgary and Lethbridge possibly seeing at least 30 millimetres from June 4 to 7, would seem to be a godsend for growers. However, recent history suggests the moisture may not matter in the long term, according to Mike Fleischhauer of Eagle Commodities Ltd. at […] Read more
Feed weekly outlook: Rains forecast for southern Alberta
Prairie cash wheat: Talk of Black Sea corridor weighs on week’s bids
MarketsFarm — The prospect of Russia allowing food shipments to leave Ukraine — albeit with a few concessions — was the key factor in declining bids for western Canadian wheat during the week ended Thursday. Russian Deputy Foreign Minister Andrei Rudenko on Wednesday said his country is ready to provide a humanitarian corridor in the […] Read more
Feed weekly outlook: Feedlots shopping for new-crop barley
MarketsFarm — While corn imported from the U.S. was the grain of choice for Alberta feedlots for the past few months, feed barley has slowly become more in demand. Erin Harakal, trade manager for Agfinity Inc. at Stony Plain, Alta., explained that some feedlots were already having their cattle feed on grass as summer approaches. […] Read more
Feed weekly outlook: Wheat far more expensive
MarketsFarm — The price for feed wheat is exorbitantly much higher than for barley or corn, according to Jim Beusekom of Market Place Commodities in Lethbridge. While price reports into that area’s feedlot alley put feed barley at $465 per tonne and corn at $480, wheat is about $600, he said. Feed wheat “is trending […] Read more
India bans wheat exports as heat wave hurts crop, domestic prices soar
Ban could push global wheat prices to new peaks
Mumbai | Reuters — India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high. The government said it would still allow exports backed by already issued letters of credit and to countries that request supplies […] Read more
Prairie cash wheat: Bids climb higher
MarketsFarm — A rally in U.S. wheat futures together with a downturn in the Canadian dollar combined to take Prairie wheat bids sharply higher during the second week of May. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $40.80-$45 per tonne during the week ended May 12, according […] Read more
Feed weekly outlook: Market watching new-crop weather
MarketsFarm — With excessive moisture in the eastern Prairies and persistent drought in southern Alberta, uncertainty over new-crop grain production is keeping some caution in the feed market. The spot market is relatively steady as the market waits for a better picture on this year’s growing conditions. “A lot of the feedlots have all the […] Read more
India sells record 1.4 million tonnes of wheat in April
Sales surge on unavailability of Black Sea supplies
New Delhi | Reuters — India exported a record 1.4 million tonnes of wheat in April, four trade sources said, providing some relief to grain markets as buyers scramble for alternatives to Black Sea supplies hit hard by the war in Ukraine. April is the first month of the fiscal year. India, the world’s second […] Read more
Feed weekly outlook: Corn trading higher than barley
Seeding begins in Alberta
MarketsFarm — Imported corn from the U.S. is still the grain of choice for feedlots in southern Alberta, despite the fact feed barley is at a slightly lower price right now. Corn traded on Wednesday at around $480 per tonne ($12.19 per bushel) in Lethbridge, said Jim Beusekom, president of Market Place Commodities in Lethbridge. […] Read more
CBOT weekly outlook: U.S. spring wheat seeding near standstill
MarketsFarm — A succession of weather events has pretty much brought spring planting in North Dakota and Minnesota to a standstill, according to analyst Tom Lilja of Progressive Ag at Fargo, N.D. The weekly crop progress report from the U.S. Department of Agriculture (USDA) estimated nationwide planting of spring wheat at 19 per cent complete […] Read more
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