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
CBOT weekly outlook: It still comes down to South America
Continent's soy situation conflicting
MarketsFarm — Although the U.S. Department of Agriculture (USDA) is set to issue its next supply and demand estimates on March 8, what’s going on in South America continues to dominate the Chicago Board of Trade (CBOT), according to Andrew Mages of Progressive Ag in Fargo, N.D. “Typically it’s not the most important report because […] Read more
Crop, livestock prices offset reduced marketings in 2022
StatCan data on farm cash receipts tracks recovery off 2021 drought
New full-year data on Canada’s farm cash receipts in calendar 2022 show how increased commodity prices last year more than offset the drop in quantities sold. Statistics Canada on Tuesday released figures showing Canadian farm cash receipts in 2022 at $94.9 billion, up 14.1 per cent from 2021, including crop receipts of $53.9 billion (also […] Read more
Revisions possible for Argentina corn, wheat carryouts
USDA attache has eyes on drought conditions
MarketsFarm — There should be changes to 2022-23 Argentina corn and wheat endings stocks, according to the U.S. Department of Agriculture’s (USDA) attaché in Buenos Aires. The Global Agricultural Information Network (GAIN) report cited a sharp increase in the carryover for corn and a smaller bump up when it came to wheat. The effects of […] Read more
Insurer moves to monthly drought coverage payouts
AFSC also cancelling pasture coverage program that relied on satellite imagery
Reading Time: < 1 minute Producers can expect several changes to Agriculture Financial Services Corporation’s insurance products for 2023. The changes include a move to monthly payments for Moisture Deficiency Insurance, an increase in the reseeding benefit compensation rate, the addition of a bear predation pilot project (for hives and bees) to the Wildlife Damage Compensation Program, increased coverage for […] Read more
U.S. grains: Soybean futures climb as soymeal soars
Chicago corn retreats, wheat inches higher
Chicago | Reuters — U.S. soybean futures rose on Thursday as uncertainty about crop prospects in Argentina lifted soymeal futures to life-of-contract highs, traders said. Corn futures fell on technical selling and a bounce in the U.S. dollar, which tends to make U.S. grains less competitive globally, although U.S. corn export sales in the latest […] Read more
U.S. beef cow herd falls to lowest level since 1962, USDA says
Last year saw record cull, Rabobank reports
Chicago | Reuters — The U.S. beef cow herd dropped to its lowest level since 1962, U.S. Department of Agriculture data showed on Tuesday, after a severe drought raised costs for livestock feed. Ranchers increasingly sent cows to slaughter last year, instead of keeping them to reproduce, as dry weather reduced the amount of pasture […] Read more
Saskatchewan holds Crown grazing rents at last year’s levels
Also, leaseholders on drought-downgraded land eligible for rate cut
Cattle producers leasing Crown land for grazing in Saskatchewan won’t see a rate hike this year and may be eligible for a significant rate cut. The provincial government announced Wednesday it has frozen the rates charged to producers who lease Crown grazing land in 2023 at their 2022 level. The freeze will apply to all […] Read more
U.S. grains: Soy, corn slide on forecasts for much-needed Argentine rains
New survey calls for expanded U.S. wheat acres
Chicago | Reuters — U.S. soybean futures fell on Thursday, retreating from seven-month highs set a day earlier as forecasts for beneficial rains in drought-hit Argentina sparked a round of selling, analysts said. Corn futures also declined on the outlook for Argentine weather along with wheat futures. Chicago Board of Trade March soybeans settled down […] Read more
Storms to bring rain to parched Argentine fields next week, grains exchange says
Drought has limited soy, corn planting
Reuters — A storm front should bring moderate to abundant rainfall across most of Argentina’s key agricultural area over the next week, the Buenos Aires grains exchange said on Thursday, which could help farmers plant their fields after a historic drought. Lack of rainfall in Argentina, the world’s largest exporter of soybean oil and meal […] Read more
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