A significant year-over-year increase Canada booked last year in realized net farm income rests mainly on 2019’s status as the country’s first full year in the recreational cannabis market. Statistics Canada on Tuesday released full-year data on farm income, pegging Canada’s realized net farm income for 2019 at $4.9 billion — a 10.4 per cent […] Read more
Legalization lifts Canada’s net farm income in 2019
Livestock receipts up, unsmokeable crop receipts lower
Farmer deliveries well above average in April
MarketsFarm — Farmer deliveries of major grains into the Canadian commercial pipeline were up substantially in April, hitting their third-highest monthly total on record, according to updated data Statistics Canada released Monday. Farmers in April delivered 5.868 million tonnes of major grains, about a million tonnes above the monthly average during the 2019-20 crop-year-to-date, and […] Read more
AAFC tightens canola stocks projections
Corrected, May 25 — MarketsFarm — Canadian canola ending stocks for both the current marketing year and the upcoming 2020-21 season will be tighter than earlier forecasts, according to updated supply/demand estimates from Agriculture and Agri-Food Canada released Friday. The latest data take into account acreage estimates released by Statistics Canada earlier in the month. […] Read more
ICE weekly outlook: Canola nearing resistance
MarketsFarm — ICE Futures canola contracts have trended higher over the past month, but may be nearing the upper end of their nearby range. Solid demand, from both exporters and domestic crushers, has kept canola well supported, while a firmer tone in world energy and vegetable oil markets should also add some upside momentum, according […] Read more
The canola picture is brighter, says crop analyst
More crushing and increased exports to smaller customers are lifting some of the gloom from lost China sales
Reading Time: 2 minutes Canola carry-over is a moving target but the situation has improved considerably, says provincial crop analyst Neil Blue. “The Canada Grain Commission provides weekly updates of bulk crop deliveries, exports and domestic use,” said Blue. “The CGC numbers need to be adjusted to account for on-farm and other feeding. However, for crops like canola, little […] Read more
USDA sets coronavirus aid payments for corn, soy, wheat
Chicago | Reuters — U.S. farmers that grow crops including corn and soybeans will receive coronavirus assistance payments based on either half of their 2019 production or the supplies they had on hand as of Jan. 15, the government said on Tuesday. The coronavirus aid is the latest in a round of government payments that […] Read more
Net short position reduced in canola
MarketsFarm — Rising futures prices saw speculators exiting short positions in canola and adding to a growing net long in soybeans, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in at 38,738 contracts on Tuesday, […] Read more
ICE weekly outlook: Canola steady at midweek
Spring seeding more or less underway
MarketsFarm — After showing considerable strength in prior trading sessions, canola contracts were either side of unchanged at midweek. David Derwin of P.I. Financial in Winnipeg said canola was holding steady in comparison to other vegetable oils. “There’s general weakness in other markets, but canola hasn’t had too much of a move,” he said. Considerable […] Read more
Funds cover canola shorts, but still bearish on corn
MarketsFarm — Speculators reduced their net short position in canola during the first week of May and added to their net long position in soybeans, while placing fresh bearish bets on corn, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position […] Read more
Adjustments likely ahead for StatsCan’s early acreage estimates
Projections still in line with grain trade's expectations
MarketsFarm — The results of the first acreage estimates for 2020 from Statistics Canada come with an asterisk, as the COVID-19 pandemic halted data collection early. Canada’s actual seeded area is expected to see some shifts from the projections released Thursday. “As a result of the timing of the COVID-19 pandemic, these estimates were produced […] Read more
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