MarketsFarm — Statistics Canada (StatCan) reported that 2022 had the smallest domestic canola crush for a calendar year since 2017. As well, 2022 marked the smallest canola oil production in five years and the least amount of canola meal produced in four years. The sharp reduction of canola being crushed was due to the 2021 […] Read more
Canola crush of 2022 smallest in five years
Meanwhile, soybean crush rose on the year
Argentina soybean crop smaller than expected, USDA attaché says
MarketsFarm — Argentina’s 2022-23 soybean crop is likely much smaller than official projections as high temperatures and a lack of moisture cut into yields, according to an update from the U.S. Department of Agriculture’s Buenos Aires attaché. The USDA post from the South American country pegged the soybean crop at only 36 million tonnes, which […] Read more
Imperial Oil clears Edmonton renewable diesel plant for construction
Quick decision motivated in part by need for feedstocks such as canola oil, company says
Reuters — Imperial Oil on Thursday announced approval for an investment of $720 million to build Canada’s largest renewable diesel facility at its Strathcona refinery near Edmonton. The Calgary-based company said the facility will produce 20,000 barrels per day of renewable diesel and is expected to start production in 2025. Imperial expects regulatory approval for […] Read more
Worst drought in decades sees Argentina exchange slash soy, corn forecasts
Buenos Aires | Reuters — Argentina’s Rosario Grains exchange sharply cut its forecast for the 2022-23 soybean harvest to 37 million tonnes from a previous forecast of 49 million, it said on Wednesday, as the country faces its worst drought in 60 years. The exchange also slashed its 2022-23 corn harvest estimate to around 45 […] Read more
Pulse weekly outlook: 2022 a ‘good year’ for Manitoba pulses, soy
MarketsFarm — Despite a rough start to southern Manitoba’s growing season, Manitoba Pulse and Soybean Growers executive director Daryl Domitruk was content with how 2022 came to pass. “For pulses and soybeans, it was generally a good year as a result of some very good yields in soybeans and some quite good yields in dry […] Read more
CBOT weekly outlook: Soy futures find support, but upside limited
Corn activity mainly bearish
MarketsFarm — Solid export demand, a short squeeze by fund traders and production uncertainty in South America have all propped up Chicago soybean futures over the past week, with more gains possible ahead of the year-end before correcting lower, according to an analyst. With the South American harvest still some time away, “you might have […] Read more
Argentine growers who hold soybeans face higher financing costs
Buenos Aires | Reuters — Argentine soy farmers who hold onto stock of more than five per cent of their production will face an elevated financing cost above the normal benchmark rate, the South American country’s central bank said on Thursday, part of a wider push to encourage sales. The central bank said soy farmers […] Read more
StatCan trims Canadian corn, soy acreage estimates
Grain corn acreage still expected up from 2021 level
New Statistics Canada projections show the country’s grain corn and soybean growers have slightly curbed their enthusiasm for those crops compared to their intentions earlier in the year. StatCan on Tuesday released the results of its 2022 June field crop survey, conducted between May 13 and June 12, projecting Canadian corn area at 3.633 million […] Read more
U.S. soybean acres come in below expectations
MarketsFarm – Farmers in the United States seeded fewer soybean acres than original intentions and slightly more corn, according to updated acreage estimates from the U.S. Department of Agriculture, released June 30. Total soybean area in the country for the 2022 growing season was pegged at 88.30 million acres by the government agency. That compares […] Read more
Pulse weekly outlook: Wet weather delays southern Manitoba seeding
Soybeans could take yield hit if planted in June
MarketsFarm — Another blast of heavy precipitation across southern Manitoba, the third in as many weeks, has already delayed seeding for pulses, according to a production specialist. Laura Schmidt, a production specialist for Manitoba Pulse and Soybean Growers, said the 40 to 50 millimetres of rain across the region on April 29-30 all but guaranteed […] Read more
Cyber-Savvy Farmer
