MarketsFarm — The latest U.S. forecast puts world wheat production at a new record in 2021-22, with bigger crops in a number of countries more than offsetting expected decreases in Canada and Australia. According to the first outlook for the marketing year from the U.S. Department of Agriculture, total world wheat production for 2021-22 is […] Read more
USDA expects record world wheat crop in 2021-22
CBOT weekly outlook: Tight old-crop supplies keep soy, corn strong
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade posted solid gains during the week ended Wednesday, with the widening inverted spread between old-crop contracts and new-crop months a feature. “Commercials are buying any dips they can,” Sean Lusk of Walsh Trading said of the market. With the nearby months trading at […] Read more
Long-range forecast points to cool, wet spring for northern Prairies
MarketsFarm — Central and northern agricultural regions of Saskatchewan and Alberta are forecast to see cooler-than-normal temperatures with above-average precipitation over the next three months, according the latest long-range outlook from Environment Canada. The department’s latest seasonal weather maps, dated Sunday, show a 40-50 per cent chance of above-normal precipitation across most of the northern […] Read more
Prairies can expect far better harvest weather this fall
MarketsFarm — Prairie farmers are likely going have good weather over the next few weeks, according to Scott Kehler of Weatherlogics. “We got a pretty significant warm-up across most of the Prairies through to the end of September. It should be fairly warm and not too much in the way of precipitation,” he said. “At […] Read more
Global grain production to increase, IGC predicts
MarketsFarm — The International Grains Council (IGC) issued projections Thursday calling for a slight increase in total global grain production for the current marketing year and for 2020-21. The U.K.-based council forecast world production at 2.175 billion tonnes, which would be an increase of three million tonnes from its February report. The IGC said that’s […] Read more
Chances of flooding in Manitoba depend on weather
MarketsFarm — Manitoba has issued its spring thaw forecast of 2020 — with high water levels coming for the Red River. That’s due to significant soil moisture levels left over from the fall and above-normal snow levels in the river’s U.S. watershed. “Our focus is currently on the Red River, where we are expecting a […] Read more
Average Prairie heat, more rain in summer forecast
MarketsFarm — Canada’s Prairies should see higher-than-normal precipitation and generally average temperatures during the 2020 growing season, according to a forecast from Scott Kehler of Weatherlogics. Speaking Thursday at CropConnect in Winnipeg, Kehler said “there’s not really a strong pattern one way or the other” when it comes to the temperature outlook. The Weatherlogics forecast […] Read more
CN strike to weigh on railway’s 2019 profit
Reuters — Canadian National Railway on Tuesday cut its adjusted profit growth target for 2019, citing shipment delays from the country’s largest rail strike in a decade that ended last week. Shares in CN, which counts billionaire Bill Gates’ investment firm as its biggest shareholder, fell almost two per cent in morning trading in both […] Read more
Near-normal monsoon expected in India
MarketsFarm — Monsoon rains in India are expected to be near normal in 2019, according to the first long-range forecast of the year from the India Meteorological Department. The southwest monsoon typically runs from June through September. It provides crucial moisture for the country’s agriculture sector, as it accounts for roughly 70 per cent of […] Read more
Canola prices vulnerable after StatsCan report
CNS Canada — The latest acreage report from Statistics Canada failed to surprise most investors in the market, but still could leave canola futures looking overpriced, according to a trader. “It certainly is a negative number,” said Ken Ball of PI Financial in Winnipeg, referring to the agency’s estimate for canola. StatsCan’s report on Friday […] Read more
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