CNS Canada — The slumping price of oil continues to weigh on the Canadian dollar, while at the same time providing a boost to Canadian grain prices. Out-of-country buyers tend to more attracted to Canadian grain and wheat when the loonie is low, as they can get more product for their money. However, one market […] Read more
Lower loonie helps farmers, but only so much
Team Canada a hit with foreign wheat buyers
Buyers want to know about this year’s crop, talk about what matters most to them, and get to know the farmers who grow the wheat
Reading Time: 4 minutes It was a whirlwind visit — seven Asian nations in just 18 days — and an eye-opener for Willingdon farmer Greg Porozni. “It was a gruelling trip, but it was good,” Porozni said after his recent Team Canada mission. “All we did was travel and present and we kept moving.” The chair of Cereals Canada […] Read more
Devalued Argentine peso seen spurring grain exports
Buenos Aires | Reuters — The currency devaluation set to kick off in Argentina on Thursday is expected to pump millions of tonnes of pent-up grains supply into the international market at a time when the world is already seeing record stockpiles. For the first time since 2011, Argentines have full access to U.S. dollars […] Read more
Baltic Dry Index hits record low
The Baltic Dry Index fell to its lowest levels ever on Friday, which bodes well for the competitiveness of Canadian grain exports. The BDI, a gauge of global ocean freight prices, was quoted Friday at 498 points — the first time the index dipped below 500 since records began in 1985. The index was trading […] Read more
U.S. grains: Wheat eases off four-week high on export slump
Chicago | Reuters — U.S. wheat eased off a four-week high on Thursday amid disappointing export sales and forecasts for more rain relief in dry U.S. growing belts, which offset concerns about adverse harvest weather in Australia and turned traders’ attention back toward large global supplies. The firmer dollar also made U.S. wheat less attractive […] Read more
Russia, Ukraine may cut grain crop forecasts as temperatures rise
Moscow/Kiev | Reuters — Major Black Sea wheat exporters Russia and Ukraine may cut their official 2015 grain crop forecasts as recent hot weather has raised the risks to plants and rains elsewhere have delayed the harvest and dented quality, farmers and officials said. Russia and Ukraine’s agriculture ministries have said if hot weather persists […] Read more
All crops not equal in face of weakening dollar
CNS Canada –– With the Canadian dollar falling to its weakest levels relative to its U.S. counterpart in six years, the general sentiment holds it should be good news for exporters, such as Canadian grain farmers. However, any net benefit may depend on what exactly is being exported and who is doing the buying, according […] Read more
Russia may consider grain export ban, but not yet, deputy PM says
Moscow | Reuters — Russia might consider banning grain exports altogether if informal trade restrictions already in place fail to benefit the economy as hoped, a senior minister said Monday. The bulk of Russia’s grain output is wheat, for which it is expected to be the world’s fourth-largest exporter this year. But in response to […] Read more
Prairie farmers to benefit from lower ocean freight rates
CNS Canada — Western Canada’s grain farmers are expected to benefit from recent lower ocean freight rates as the Baltic Dry Index (BDI), a measurement of such rates, has dropped significantly over the past couple of months. The BDI was quoted Friday at 749 points, up from a low of 709 points seen earlier in […] Read more
Russia seen adding new informal grain export curbs in 2015
Moscow | Reuters — Russia has strengthened informal curbs on grain exports since the start of the year, further complicating trading before the introduction of an export tax, a Russian grain exporters’ lobby said Tuesday in a letter to officials. Russia, expected to be the world’s fourth-largest exporter this year, hopes export curbs will cool […] Read more
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