Crops
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade have seen some wide price moves over the first trading week of July, as a surprisingly bullish acreage report at the end of June was quickly superseded by the weather. “Right now it’s weather; the weather has trumped the bullishness of the June […] Read more
CBOT weekly outlook: U.S. Midwest weather in focus for soy, corn
U.S. grains: Soy futures rebound on declining crop condition
Forecast rain has eased U.S. corn yield fears
Chicago | Reuters — Chicago Board of Trade soybean futures rose on Wednesday, recouping a portion of heavy losses from a day earlier, as a lower-than-expected U.S. crop rating tempered hopes that rain will improve field conditions. Rains from Friday into next week will offer timely moisture for corn that will be in the key […] Read more
Hot weather cuts into Canadian mustard crop
Price increases already noted
MarketsFarm — Canada is looking at another small mustard crop in 2021, which should keep prices well supported for any unpriced crop, as recent heat stress cut into yields. “That was a very rough week,” said Walter Dyck, the Alberta-based general manager with Wisconsin mustard-processor Olds Products, on the late June/early July heat wave that […] Read more
Pulse weekly outlook: Saskatchewan crops fight off record heat
MarketsFarm — The “heat dome” which enveloped Western Canada last week delivered a blow to Saskatchewan’s pulse crops. Thirty-four temperature records were shattered on Friday, including those at Regina, Prince Albert, Swift Current, Weyburn and Yorkton. Saskatoon and Lucky Lake, northeast of Swift Current, were the province’s hot spots that day at 40 C. Nine […] Read more
U.S. grains: Corn limit down as crop weather improves
Market retreats from rallies last week
Chicago | Reuters — Chicago Board of Trade corn futures sank by the daily limit on Tuesday as forecasts for cooler, wetter U.S. weather eased concerns about unfavourable crop conditions. Prices pulled back after climbing 12 per cent last week on lower-than-anticipated U.S. plantings estimates from the Department of Agriculture. The estimates made the market […] Read more
Prairie cash wheat: Spring wheat bids spike
Durum bids up moderately
MarketsFarm — Wheat bids in Western Canada for the week ended Thursday spiked sharply for Canada Western Red Spring (CWRS) and Canada Prairie Spring Red (CPSR) wheats, while gains for Canada Western Amber Durum (CWAD) were much more subdued. Steep increases in U.S. wheat markets supported values — as did the Canadian dollar, by losing […] Read more
P+H to replace eastern Saskatchewan elevator
New facility, loop track to be on line in mid-2022
Agrifood company Parrish and Heimbecker (P+H) plans to build a new and leaner grain elevator at Yorkton, Sask. to replace its 41-year-old facility there. The privately-held Winnipeg grain firm said Wednesday it has already started work on the new build, which it expects to have ready to receive grain in June next year. The existing […] Read more
Syngenta’s Shanghai IPO to fund growth, acquisitions
Hong Kong/Zurich | Reuters — Syngenta Group will use the proceeds from its US$10 billion initial public offering (IPO) to fund internal growth and an acquisition spree to snare more of the $100 billion market for seeds and sprays, the agrichemical giant said on Friday. The company’s prospectus to list on Shanghai’s Nasdaq-style STAR Market […] Read more
U.S. court tosses Trump-era rule expanding ethanol sales
New York | Reuters –– A federal appeals court on Friday struck down a U.S. rule put in place under former president Donald Trump to expand sales of corn-based ethanol, drawing ire from farm and biofuel groups that vowed to work to ensure that such sales continue. The U.S. Court of Appeals for the District […] Read more
Feed weekly outlook: Prices dip in Alberta, steady to higher elsewhere
MarketsFarm — Prices for feed barley and wheat in Alberta pulled back a little this week — and it wasn’t because the province has generally received more rain than the other two Prairie provinces. “There hasn’t been the demand as we typically have at this time of year,” Erin Harakal, senior trader with Agfinity in […] Read more