MarketsFarm — Total 2023-24 winter crop production in Australia, at an estimated 45.2 million tonnes, is expected to be 34 per cent off the record highs hit last year but slightly above the June forecast as upward revisions to canola and barley counter a downward revision to the wheat number, according to the latest crop […] Read more
Australian crop estimates adjusted slightly lower
Crop seen down 34 per cent from last year
U.S. grains: Wheat up off three-month low as Australian crop declines
U.S. corn, soy crop ratings fall more than expected
Chicago | Reuters — Chicago Board of Trade wheat futures edged higher on Tuesday, after hitting a three-month low, amid short covering and concerns about dry weather threatening production in export hubs including Australia. Corn futures also rose, while the soybean market eased as traders awaited the start of U.S. harvesting. After the markets closed, […] Read more
Drought hits southern ranchers hard
As grazing co-ops cut stocking rates and water levels drop, tough decisions are being made
Reading Time: 3 minutes With scarce water, big heat and short grass, the 2023 southern Alberta grazing season has been a slow-rolling disaster. On July 12, for the second time in 20 years, the Special Areas Board declared a state of agricultural disaster for Special Areas 2, 3 and 4 due to prolonged drought. The Special Areas cover five […] Read more
Feed weekly outlook: Feed barley, wheat prices coming down
Feedlots' use of U.S. corn adds pressure
MarketsFarm — Despite a hot and dry summer across much of the Prairies, prices for feed barley and feed wheat have fallen off over the past month. The high-delivered bid for Alberta feed barley was $8.06 per bushel, $1.42 less than one month ago, according to Prairie Ag Hotwire. Those in Saskatchewan and Manitoba were […] Read more
U.S. grains: Soybeans dip, despite exports
Damage to Canada's durum could impact pasta prices
Chicago | Reuters — Chicago soybean prices fell for a second session on Wednesday, despite recent export activity, with analysts pointing to traders squaring positions heading into the end of the month. Wheat traded higher, supported by global demand and concerns about Canada’s crop. Corn was near even as traders wait for the harvest to […] Read more
Pulse weekly outlook: Lentils, peas show large declines in StatCan report
Chickpea, soy production expected up on the year
MarketsFarm — Statistics Canada (StatCan) showed a mostly tightened outlook for Canadian pulses in its first model-based supply/demand estimates for the 2023-24 marketing year. StatCan on Tuesday released those projections, which largely presented a reduction in yields due to ongoing dry conditions on the Prairies. As of July 31, Canadian dry field pea output was […] Read more
Canada to harvest less wheat than expected due to drought
Canola, barley, oats output also projected lower
Winnipeg | Reuters — Canadian farmers will harvest less wheat than expected after dry conditions in parts of the Prairie provinces shrunk yields, a government report showed on Tuesday. Drought is expected to send global wheat stockpiles for major exporters to the lowest levels in more than a decade, a Reuters analysis has shown. Canada […] Read more
Weather woes, Russia upend outlook for global wheat suppliers
Stockpile levels expected to reach at least a 16-year low in 2023-24
Reading Time: 4 minutes Drought is expected to send global wheat stockpiles for major exporters to the lowest levels in more than a decade, a Reuters analysis shows. The decline is coming as top supplier Russia intensifies its conflict with Ukraine and creates more uncertainty for importers. Farms in areas of North and South America, Europe and Australia are […] Read more
Panama Canal’s drought-induced bottleneck eases
Some vessels detour; transits per day still reduced
Panama City | Reuters — A backlog of vessels waiting to pass the Panama Canal due to drought-related restrictions has eased in recent days after the waterway’s authority authorized more non-booked ships to pass and as others are choosing alternate routes to avoid the delays. The Panama Canal Authority last week opened two additional slots […] Read more
Saskatchewan front-loads AgriRecovery funding
Joint federal-provincial program development still underway
The Saskatchewan government says it will put up to $70 million toward “immediate measures” to support livestock producers, ahead of an expected federal-provincial AgriRecovery program for that purpose. Application forms are expected to be available via Saskatchewan Crop Insurance Corp. (SCIC) “in the coming days” for funding “to help offset extraordinary costs of feeding livestock […] Read more