MarketsFarm | Rain — specifically, the lack thereof — is quickly becoming the key issue for canola values, according to Ken Ball of PI Financial in Winnipeg. Until now, dry conditions across much of the Prairies have not been much a factor in canola prices, he said. “We’ve got to get some rain in a […] Read more
ICE weekly outlook: Rain needed to bolster canola crop
Pulse weekly outlook: Chickpea acres ‘sharply’ down
MarketsFarm — Despite prices higher than last year’s, Canada’s chickpea acres are expected to decline this year and, in turn, will result in less production in the 2021-22 crop year. High-delivered bids for Kabuli chickpeas, the type most commonly grown in Canada, run from 25 to 35 cents/lb., three to seven cents higher than last […] Read more
U.S. grains: Soy futures top $16 for first time since 2012
Chicago corn, wheat also end higher
Chicago | Reuters — Benchmark U.S. soybean futures jumped above US$16 a bushel on Tuesday for the first time since 2012 as traders focused on tightening feed grain supplies and dry weather in Brazil’s corn belt, traders said. Corn and wheat futures also posted sharp gains, with nearby contracts leading the way up. A weaker […] Read more
U.S. grains: Corn, soy, wheat dip ahead of WASDE
Market eyes U.S. supply-demand reports for price direction
Chicago | Reuters — Chicago corn futures fell on Monday, pausing after rallying to eight-year highs last week, with traders focusing on the U.S. Department of Agriculture’s upcoming world supply-demand (WASDE) report for new price direction. Wheat dipped, supported by beneficial rains across the U.S. Great Plains, while soybeans traded mixed on continued tight supplies. […] Read more
Feed weekly outlook: Drought, demand deplete southern Alberta stocks
MarketsFarm — Prices for feed grains are continuing to go up — and with depleted stocks and dry conditions forecast for the Prairies, they are likely to rise a bit more. “There’s a shortage of corn. Corn’s at over $400 (per tonne) in southern Alberta. You’ve got barley that’s pushing over $340-$350 and that’s a […] Read more
ICE weekly outlook: Canola’s uptrend intact for now
MarketsFarm — The ICE Futures canola market continued its months-long upward trajectory during the week ended Wednesday, hitting fresh contract highs in many months as tight old-crop supplies and weather uncertainty for the new crop kept speculators on the buy side. While selling was starting to come forward to temper gains in the new-crop months, […] Read more
New Nutrien CEO to carry out current strategy
Schmidt to focus on potash price over boosting sales
Winnipeg | Reuters — Canadian fertilizer and farm dealer Nutrien will continue its existing business strategy, including a focus on supporting global potash prices over maximizing sales, new CEO Mayo Schmidt said Tuesday. Surging prices of corn, soybeans and canola have given North American farmers more incentive to spend on fertilizer, lifting crop nutrient prices […] Read more
ICE weekly outlook: Challenging crop year ahead for canola
MarketsFarm — With declines in canola following Statistics Canada’s bullish-leaning projections for acres, it’s becoming more difficult to determine which way prices will trend in coming weeks and months. “Where are prices going to go? In any given year that’s challenging, especially in this year,” said David Derwin, analyst for PI Financial in Winnipeg. “That […] Read more
StatsCan’s projected canola area on low side of expectations
Wheat acres expected lower, barley up
MarketsFarm — As the market grapples with new planting projections from Statistics Canada, one thing was abundantly clear to MarketsFarm Pro analyst Mike Jubinville: this canola forecast isn’t enough to rectify tight ending stocks. In StatsCan’s survey-based principal field crop areas report, released Tuesday, the federal agency pegged canola acres for 2021-22 at 21.53 million, […] Read more
More canola, less wheat expected ahead of StatsCan report
'Returns per acre are just so much stronger'
MarketsFarm — Canadian farmers are seen as likely to plant more canola and barley and less wheat this spring, as market participants await the first survey-based estimates from Statistics Canada on Tuesday to confirm the extent of that shift. “Canola will gain acres and wheat will lose acres,” said MarketsFarm Pro analyst Mike Jubinville, pointing […] Read more