MarketsFarm — Last summer’s drought sharply reduced yields of many crops across the Prairies, leaving multiple supply challenges and rising prices in the aftermath. Western Canadian rye, however, was largely left unscathed, which may bode well for the crop heading into 2022. Rye production came in at 473,000 tonnes for 2021-22, according to Statistics Canada […] Read more
Rye in strong position going into 2022
Pulse weekly outlook: Manitoba growers hope timely rains follow snows
High N prices may favour pulse acres
MarketsFarm — As March 1 marked the start of meteorological spring, it feels like anything but that in southern Manitoba. One of the snowiest and coldest winters in years has been a mixed blessing for pulse growers, providing much-needed moisture for fields while also raising flood fears in some areas. Dennis Lange, a pulse specialist […] Read more
Sunflower market seeing broad strength
MarketsFarm — Sunflower seed has found itself caught up with the general strength seen in most agricultural markets, with the Russian invasion of Ukraine adding another layer of uncertainty to the market as the two countries are both major world producers. “We believe sunflowers are a very attractive option going into 2022,” said Robert Deraas, […] Read more
CBOT weekly outlook: Wheat futures in a war trading scenario
MarketsFarm — Russia’s invasion of Ukraine has roiled grain and oilseed markets, with the unprecedented situation likely to lead to volatile and choppy activity in wheat, corn and soybean futures for the time being. Chicago and Kansas City winter wheat contracts have posted the largest gains in response to the conflict, with the closure of […] Read more
ICE weekly outlook: Canola finding plenty of support
MarketsFarm — ICE canola futures climbed to fresh contract highs during the week ended Wednesday, as activity in outside markets and canola’s own tight supply situation provided support. “Outside forces help it, but there are also things unique to the canola market that are supportive,” said David Derwin, commodities investment advisor with PI Financial in […] Read more
Pulse weekly outlook: Four factors to consider before going with peas
MarketsFarm — There are four factors to consider before deciding whether to plant dry peas this spring, according to Darryl Domitruk, executive director of Manitoba Pulse and Soybean Growers at Carman, Man. The first is field selection, as peas need to be planted with less residuals such as nitrates, Domitruk said. “Pulses manufacture their own […] Read more
Rising prices could lead to more mustard acres
MarketsFarm — A further tightening in Canada’s mustard supply is the main culprit in recent price spikes for the seed. Yellow mustard in Western Canada has a high-delivered bid of $1.61/lb., up 10 cents from last month and $1.18 higher than last year, according to Prairie Ag Hotwire data. Over the past month, the high-delivered […] Read more
South American soy, corn crops face major disaster
MarketsFarm — With intense heat and very little rain, soybean and corn crops have been having a very tough time in South America, according Dr. Michael Cordonnier of Soybean and Corn Advisor at Hinsdale, Ill. Be they from private consultancies or government bodies such as the U.S. Department of Agriculture or its Brazilian equivalent CONAB, […] Read more
Corteva CEO bullish on grain, oilseed prices for 2022
Reuters — Corteva expects prices for grains and oilseeds to remain high this year on record demand levels, its CEO said Thursday, following the insecticide and seed company’s upbeat sales outlook a day earlier. Global agriculture demand and prices for crops picked up pace in the fourth quarter of 2021, thanks to economies reopening and […] Read more
CBOT weekly outlook: Soybeans at US$16 possible, trader says
MarketsFarm — Prices for soybeans and corn at the Chicago Board of Trade (CBOT) could push higher in the coming weeks, should South America remain dry, according to Bryan Strommen of Progressive Ag at Fargo, N.D. More and more estimates on soybean production in Brazil have been projecting a much smaller harvest than initially hoped […] Read more
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